Union Finance Minister Nirmala Sitharaman, in a press conference on Sunday, said that the focus of the fifth and final tranche of economic package will be on reforms.
She said the package would focus on seven steps that are being taken by the government with regard to reforms in MGNREGS, healthcare and education, businesses, de-criminalisation of the Companies Act, ease of doing business, public sector undertakings, and resources related to State government.
The Union Minister had earlier made four announcements on the Aatmanirbhar Bharat Abhiyan stimulus package on Wednesday, Thursday, Friday, and Saturday. The Hindu’s Deputy Editor Priscilla Jebaraj is reporting on today’s press conference from Delhi.
Read the Part 5 of the economic package in detail here.
Here are the updates:
12.55 pm
Is it not dramebaazi to sit with migrants on the road?: FM reacts to Congress criticism
Responding to Congress’ criticism on migrant workers being forced to walk to their hometowns, Finance Minister Nirmala Sitharaman said that the State and central governments need to work together on this.
Congress-led State governments should ask the Centre for more trains, she said.
“Don’t waste their time sitting with them on the roads, she says. Is it not dramebaazi to sit with migrants on the road? Let us deal with migrants more responsibly rather than doing politics,” she said in an apparent dig at Rahul Gandhi, who was photographed talking to migrant workers at Delhi’s Sukhdev Vihar area.
12.40 pm
The Finance Minister said that the break-up of the total stimulus amounts to ₹20.97 lakh crore, and is as follows.
Stimulus from earlier measures:
Revenue lost due to taxes since March 22: ₹7,800 crore
Pradhan Mantri Garib Kalyan Yojana: ₹1.7 lakh crore
Health: ₹15,000 crore
RBI measures: ₹8.01 lakh crore
The break-up of announcements made during all five tranches are as follows:
Tranche 1: ₹5.94 lakh crore
Tranche 2: ₹3.1 lakh crore
Tranche 3: ₹1.5 lakh crore
Tranche 4&5: ₹48,100 crore
12.30 pm
12 lakh EPFO members withdraw ₹3,360 crore retirement savings during lockdown: FM
Finance Minister Nirmala Sitharaman said around 12 lakh members of the Employees’ Provident Fund Organisation (EPFO) withdrew ₹3,360 crore retirement savings during the coronavirus-induced lockdown.
The EPFO, under the Union labour and employment ministry, has settled a total of 12 lakh claims under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) package.
Ms. Sitharaman also told that 2.2 crore building and construction workers got ₹3,950 crore under the PMGKY to sustain in lockdown.
12.25 pm
States’ borrowing limits raised
The States’ borrowing limits are to be raised from 3% to 5% of State GDP, announced the Finance Minister. This means an extra ₹4.28 lakh crore will be made available to the States, she said.
This increase of borrowing limits from 3% to 5% of GDP was done on the request of State governments. However, FM noted that States have so far only borrowed 14% of their already authorised limit, which was based on 3% of their GDP.
Increase in limits conditional
This increase in b