Stimulus a game changer for health, education, biz sectors: Shah

By Sarkaritel May 17, 2020 18:26

New Delhi, May 17  Union Home Minister Amit Shah on Sunday called the mega stimulus push announced by Finance Minister Nirmala Sitharaman a game changer in health, education and business sectors.

Expressing his views in a series of tweets, Shah said: “Today’s announcements by the Modi government will go a long way in realizing the idea of ‘Atmanirbhar Bharat’. These steps will prove to be a game changer for health, education & business sectors, which will provide employment to crores of poor. I thank PM Narendra Modi and Finance Minister Nirmala Sitharaman.”

Shah said the additional allocation of Rs 40,000 crore under Mahatma Gandhi National Rural Employment Guarantee scheme (MGNREGS) by the Modi government will not only help in generating employment for the poor and migrant workers but will also help create durable livelihood assets, which will greatly boost rural economy and infrastructure.

He said Prime Minister Modi’s leadership in handling Covid-19 has outshone several developed nations.

The Minister said the Modi government has decided to increase India’s health expenditure to facilitate creation of infectious diseases hospital blocks in every district, strengthening lab networks and surveillance and encouraging research. “I am sure this foresight will take India way ahead in the medical sector,” Shah said.

“The decision on reimagining the Public Sector Enterprise Policy, focus on further improving ease of doing business through IBC-related measures and decriminalisation provisions in the Companies Act reflect PM’s futuristic vision and commitment towards a self-reliant India.”

The government has decided to increase borrowing limit of states, which will give them extra resource of Rs 4.28 lakh crore, Shah said. He mentioned that the centre had previously given Rs 46,038 crore through devolution of taxes in April, revenue deficit grants of Rs 12,390 crore, and State Disaster Relief Funds (SDRF) to the tune of Rs 11,000 crore.

To mitigate the economic fallout of COVID-19 outbreak, Sitharaman on Sunday announced a mega stimulus push for education, health and rural employment along with a roadmap for a massive privatisation and merger drive of public sector undertakings in certain areas. Accordingly, on the final day of detailing the mega Rs 20 lakh-crore economic package under the Centre’s ‘Self-Reliant India Movement’, the minister also eased regulatory norms on insolvency norms and listing norms.

The FM also gave a monetary break-up of all the measures she announced during the last 5-days. These are cumulatively worth Rs 20,97,053 crore announced under the mega stimulus package which also includes RBI measures and steps announced under Pradhan Mantri Garib Kalyana Package (PMGKP).

By Sarkaritel May 17, 2020 18:26