Aatma Nirbhar Bharat Abhiyaan or Self-Reliant India Movement

Published on May 14, 2020
Current Context: Aatma Nirbhar Bharat Abhiyaan or Self-Reliant India Movement is an economic package launched by Union Minister of Finance & Corporate Affairs Nirmala Sitharaman.
Aatma Nirbhar Bharat Abhiyaan or Self-Reliant India Movement
  • The package is launched with an aim to support the Indian economy in the pandemic situation of COVID-19 and to fight against it.
  • The announcement of this Abhiyan was made by PM Narendra Modi. While addressing this Abhiyan, he announced a special economic and comprehensive package of Rs.20 lakh crores, equivalent to 10% of India's GDP, for relief and credit support related to businesses, especially to MSME sector to support Indian Economy to fight against COVID-19 pandemic. The details and several measures of the package were announced by Finance Minister.
  • Rs.3 lakh crore as emergency Working Capital Facility has been allocated to businesses and MSMEs which will be availed till 31st Oct 2020 and Rs.20,000 crore Subordinate Debt has been allotted for stressed MSMEs.
  • Whereas, the MSME which is having potential and is viable are allotted with Rs.50,000 crore equity through MSME Fund of Funds.
  • A new definition for MSME was announced in the package:(a) Micro Enterprises:- Investment up to Rs 1 crore and turnover of up to Rs 5 crore. (b) Small Enterprises:- Investment up to Rs 10 crore and turnover of up to Rs 50 crore. (c) Medium Enterprises:- Investment up to Rs 20 crore and turnover of up to Rs 100 crore.
  • Rs.90,000 crore has been allotted to power distribution companies.
  • The package also included data for Extending the Employees Provident Fund Support for business and organized workers for another 3 months for salary months of June, July, and August 2020.
  • Rs.30,000 crore Special Liquidity Scheme was announced for NBFC/HFC/MFIs.
  • Partial credit guarantee Scheme 2.0 was announced for Liabilities of Non-Banking Financial Company (NBFCs)/Micro Finance Institutions (MFIs) which included support of Rs.45,000 crore.
  • Reduction in Rates of 'Tax Deduction at Source' and 'Tax Collected at Source' by 25% for the remaining period of FY 20-21.

Question:

Q.1 The Government has announced how much emergency liquidity fund for the power distribution firms, as a part of the Aatma Nirbhar Economic Package?
a. Rs. 90,000 crore
b. Rs.70,000 crore
c. Rs. 80,000 crore
d. Rs.50,000 crore

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