FM Sitharaman launches EPFO linked Atmanirbhar Bharat Rozgar Yojana

New Delhi: Due to the Corona epidemic, the country's economic situation is getting significantly negative. In such a situation, the Modi government at the center can announce another relief package of around Rs 1.5 lakh crore to bring the economy back on track.

In this regard, Finance Minister Nirmala Sitharaman was scheduled to address a press conference at 12.30 pm today. It is expected that a relief package may be announced.

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Guaranteed credit for entities in 26 stressed sectors identified by Kamath Committee plus health care sector with credit outstanding of above Rs 50 cr & up to Rs 500 cr as of 20.2.2020. Those up to Rs 50 cr previously covered under existing scheme.

Central Govt to provide subsidy for 2 years in respect of new eligible employees engaged on or after 01.10.2020 for establishments employing upto 1000 employees & more than 1000 employees.

Rs 2.05 lakh crore sanctioned to 61 lakh borrowers under ECLGS, Rs 1.52 lakh cr disbursed. PSBs have approved portfolio purchase of Rs 26,889 cr. Also, Rs 7227 cr disbursed under Special Liquidity Scheme for NBFC/HFC

Establishments employing upto 1000 people: Employee's contributions (12% of wages) & employer's (12% of wages) totaling 24% of wages.

More than 1000 employees: Only employee's EPF contributions (12% of EPF wages)

1.57 lakh farmer credit cards issued so far

One country on a ration card, Minister of State for Finance Anurag Thakur said that now any person from India can take ration anywhere.

There will be emphasis on employment generation in the road package.

-Investment is continuously increasing.

Finance Minister Nirmala Sitharaman said that recent figures indicate an improvement in the economy.

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He said that several figures like GST collection have come out better and the Reserve Bank has indicated that the economy can achieve positive GDP growth in the third quarter itself.

He said that the freight traffic in the railways has gone up by 20%, bank loan disbursement has increased by 5%. The stock market is at a record high.

-FPI's net investment has also been positive. Foreign exchange reserves have also reached a record of $ 560 billion.

Diwali bonanza from Modi Govt

Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and other top officials will finalize the package on Thursday. The package may focus on job creation and providing relief to the troubled sector. This can prove to be quite beneficial for the package. Although complete information about this package has not been found, but it has been said that its purpose will be to provide relief to the troubled sector. Also, there will be emphasis on employment generation.

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