Finance Minister Nirmala Sitharaman took stock of progress made below varied schemes below the three Aatmanirbhar Bharat Packages (ANBP) to assist revive economic system hit exhausting by the outbreak of COVID-19 pandemic.
Following announcement by the Prime Minister, Sitharaman offered the small print of the Rs 20 trillion ANBP 1.Zero in a collection of press conferences from May 13-17. It was adopted by AatmaNirbhar Bharat Package deal 2.Zero on October 12 and the third tranche on November 12.
Sitharaman on Friday concluded a complete evaluation of ANBP with the Secretaries of assorted Ministries and Departments involved over three days, the Finance Ministry assertion stated on Sunday.
Sharing particulars of the progress made by varied schemes below the ANBP, the assertion stated, banks have sanctioned loans worth Rs 2,05,563 crore to about 81 lakh accounts below the Rs 3-trillion Emergency Credit score Line Assure Scheme (ECLGS) for the MSME sector that was impacted by disruptions brought on as a result of coronavirus pandemic.
Whereas 40 lakh MSME accounts have acquired Rs 1,58,626 crore until December 4, Rs Three trillion collateral-free assured loans budgetary provision of Rs 4,000 crore made for the Scheme in First Supplementary Demand for Grants for FY 2020-21.
Saying Aatmanirbhar Bharat Package deal 3.Zero final month, the Finance Minister had stated that Rs 2.05 trillion sanctioned and Rs 1.52 trillion disbursed below ECLGS 1.0.
As a part of the Aatmanirbhar Bharat Abhiyan 3.0 (introduced on November 12), ECLGS Scheme has been prolonged by ECLGS 2.Zero for the 26 stress sectors and well being care sector with credit score excellent of above Rs 50 crore and as much as Rs 500 crore as on February 29, 2020.
Underneath ECLGS 2.0, entities with excellent credit score above Rs 50 crore and never exceeding Rs 500 crore as on February 29, 2020, which had been lower than or equal to 30 days late as on February 29, 2020 are eligible, the ministry stated.
The loans supplied below ECLGS 2.Zero may have a five-year tenor, with a 12-month moratorium on compensation of principal.
All the scheme (ECLGS 1.Zero and ECLGS 2.0) legitimate until March 31, 2021, it stated.
A few of the sectors recognized by the Kamath Committee for one-time debt restructuring included energy, building, actual property, textiles, prescription drugs, logistics, cement, auto parts and lodge, eating places and tourism.
The RBI had in August arrange the committee headed by former ICICI Bank chairman Okay V Kamath for suggesting monetary parameters to be factored within the decision plans below the ”Decision Framework for COVID-19 associated Stress” together with sector particular benchmark ranges for such parameters.
Speaking about progress of different schemes, the finance ministry stated Rs 775 crore have been launched to Small Industries Growth Bank of India (SIDBI) below the Rs 1,500 crore ‘Curiosity Subvention for MUDRA-Shishu loan’.
Of this, Rs 206.73 crore already disbursed to Member Lending Establishments (MLIs) as a part of the primary tranche for quick launch of curiosity subvention profit.
With regard to the Kisan Credit score Card (KCC) scheme, one other tweet stated, it has coated 1.69 crore farmers with sanctioned credit score restrict of Rs 1.54 trillion as on December 4, 2020.
As a part of the Aatmanirbhar Bharat Package deal, the federal government has introduced to cowl 2.5 crore farmers below the KCC scheme with a credit score increase of Rs 2 trillion by a particular saturation drive.
It additional stated that public sector banks (PSBs) have bought bonds and business papers worth Rs 27,794 crore issued by 67 NBFCs below the revamped Partial Credit score Assure Scheme (PCGS).
“PCGS 2.0-Buy of portfolio of Rs 27,794 cr already accepted by banks…Rs 25,000 cr. disbursed from Extra Emergency Working Capital Funding for farmers by NA(BA)RD (as on December 4),” it stated.
New entrance loaded refinance facility of Rs 30,000 crore sanctioned by Nationwide Bank for Agriculture and Rural Growth (Nabard) throughout COVID-19 to Regional Rural Banks and Cooperative Banks. That is over and above Rs 90,000 crore to be supplied by NA(BA)RD by the conventional refinance route throughout this 12 months.
“Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1,45,619 crore to greater than 89.29 lakh taxpayers between 1st April 2020 and eighth December 2020. Earnings Tax refunds of Rs. 43,274 crore have been issued in 87,29,626 instances & company tax refunds of Rs. 1,02,345 crore have been issued in 1,99,554 instances,” it stated.