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Friday, November 10, 2023

Finance Minister’s another PC on Relief Package, know – which Sector got what this time?

Finance Minister Nirmala Sitharaman is once again holding a press conference on Saturday. This is the fourth consecutive day when Nirmala Sitharaman held a press conference regarding the relief package. The last press conference associated with this package has been held on Sunday i.e. tomorrow at 11 am.

In the fourth press conference on Saturday, the Finance Minister upgraded industrial infrastructure, coal, minerals, defense production, airspace management, airports, MROs (maintenance, repair-overhaul), power distribution companies in UTs, space sector and nuclear power sectors. Announced reforms in

– The Finance Minister said that private companies will be given a chance in the space sector. Private companies will also be able to use ISRO facilities.

– The Finance Minister said that reforms related to nuclear energy will be worked out. In the field of cancer, India sent medicines to the world. There will be further progress in this. To increase the production of medical equipment, companies will be formed through PPP mode and this will strengthen the service of humanity.

– The Finance Minister said that PPP policy for medical isotopes will produce. Storage will be increased through radiation technology. The agriculture sector will benefit from this. The youth of India have illuminated the name of the country in the world. Startups in this sector will be pushed forward.

– The Finance Minister said that power companies will be privatized in Union Territories. This will boost power generation. Prepaid electricity meters will be installed for the convenience of consumers. 8100 crore rupees have been announced for social infrastructure. Subsidy in the power sector will be given through DBT.

Civil Aviation Sector

The Finance Minister said that 3 major steps have been taken for the Civil Aviation Sector. Measures are being taken to save time and fuel. This work will be done within two months. This will save about Rs 1,000 crore. 6 more airports will be auctioned. The Airport Authority of India will do this work. In this way, the auction of 12 airports will be completed.

In total 12 airports will invest 13 thousand crores. Please tell that the auction of 6 airports is already in process. Not only this, the preparation of 6 airport auctions for the third phase is going on. There will be an effort to develop an MRO in India for maintenance and repair.

Defense Sector

Finance Minister said that there will be defense production. The government will notify such weapons, commodities, spares in which imports will be banned and their indigenous supplies will be made. The government will also bring a separate budget. FDI limit in defense production has been increased from 49 percent to 74 percent. Ordnance factories will be corporatised.

Coal-Mineral Sector

The Finance Minister said that there will be improvement in the mineral sector also. There will be a seamless process from exploration to production. There will be a joint auction. In addition, the definition of captive and non-captive mines will change. A mineral index will be created.

– The Finance Minister said that we come to the world’s largest coal storage countries but still cannot exploit the capacity. Changes will be made in this so that the open auction will take place. This will lead to private sector entry. The country’s economy will get a boost. About 50 blocks will be put up for auction. The mines of Coal India Limited will also be given to the private sector. There is no major eligibility condition. Commercial entry in the coal sector will lead to more mining and government monopoly will end ..

– The Finance Minister said that Make in India has changed the thinking of people for policy reform and fast track investment. It has become the foundation of self-sufficient India. We have to make our products reliable so that the whole world believes.

– The Finance Minister said that India will be made an attractive investment center.

– The Finance Minister said that today’s announcement will be linked to structural reform.

– The Finance Minister said that PM Modi has an excellent record for reforms. Today direct transfer is giving benefits to people. Tax has become easier with GST.

What did you get on friday

This press conference of Nirmala Sitharaman was entirely farmer-centric. During this, 11 announcements were made for the agriculture sector. In this, 8 decisions were related to agriculture and infra, while 3 decisions are about governance and reform. The government has announced to give one lakh crore rupees for agricultural infrastructure. During this time an important decision was taken regarding the change in the Essential Commodities Act 1955. Now grains, oilseeds, onions, potatoes, etc. will be freed from this act.

What did you get on thursday

In Thursday’s press conference, Nirmala Sitharaman made 9 big announcements related to street-street traders, small farmers and migrant workers. During this, he said that a special loan of Rs 10 thousand will be given for 50 lakh street-trawlers. Similarly, the rebate on Shishu loan, deadline of credit linked subsidy scheme has been extended.

Read this – 30 thousand crore relief package, will small farmers get benefit?

Apart from this, big announcements were made for urban homeless, such as cheap houses, rental houses, three-times meals, and Kisan Credit Cards. According to Finance Minister Nirmala Sitharaman, 2.5 crore farmers will get loans up to Rs 2 lakh crore on credit cards. Apart from this, One Nation, One Card scheme will be implemented across the country by March 2021.

What was announced on Wednesday

A package of about 6 lakh crores was announced on Wednesday. A large part of this package has been given to Micro, Small and Medium Businesses (MSME). At the same time, the government has also changed the definition of micro, small and medium businesses. 30,000 crore cash facility has been given to non-banking financial companies, housing finance companies, MFIs. Similarly, electricity distribution companies owe Rs 94,000 crore and they have been given bail out of 90,000 crore.

Middle class relief

In the press conference on Wednesday, Nirmala Sitharaman gave a big relief to the middle class on the tax front. The TDS rate has been reduced by 25 percent. At the same time, the government has increased the deadline for filing all income tax returns for the financial year 2019-20 from 31 July 2020 and 31 October 2020 to 30 November 2020.

Apart from this, the deadline of ‘Dispute to Confidence Scheme’ brought for settlement of tax related disputes has been extended till 31 December 2020. The government has reduced the PF contribution of all employers and employees under the Employees Provident Fund Organization (EPFO) by 2-2 per cent respectively.

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