© The Indian Express Pvt Ltd
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Journalism of Courage
FM Nirmala Sitharaman announces the Pradhan Mantri Garib Kalyan Yojana
Size of the package:
Rs 1.7 lakh crore, or 0.85% of GDP
* Front-loading of PM Kisan funds: Rs 17,380 crore
* Building and Other Construction Workers Welfare Cess Fund: Rs 31,000 crore
* District Mineral Foundation Funds: Rs 35,925 crore
Additional fiscal cost: Rs 85,695 crore (0.43% of GDP)
Liquidity injection by Reserve Bank of India
Size : Rs 3.74 lakh cr (1.8% of GDP)
* Targeted Long-Term Repo Operations (TLTRO): Rs 1,00,000 crore
* CRR cut by 100 basis points to 3%: Rs 1,37,000 crore
* Accommodation under Marginal Standing Facility hiked from 2% of SLR to 3%: Rs 1,37,000 crore
Fiscal cost: 0
Liquidity injection by the RBI
Size: 0.5% of GDP
* TLTRO 2.0: Rs 50,000 crore
* Refinance of Sidbi, Nabard and NHB: Rs 50,000 crore
Fiscal cost: 0
Special Liquidity Facility for MFs: Rs 50,000 crore
Size: 0.25% of GDP
Fiscal cost to Central Govt: 0
PM Narendra Modi announces Rs 20 lakh crore AtmaNirbhar package, says size is 10% of GDP, including announcements made by RBI and FM earlier
Size: Rs 5.94 lakh crore (2.97% of GDP)
* Collateral free automatic loans to MSMEs, 100% credit guarantee cover to banks, NBFCs: Rs 3 lakh crore
* Subordinate debt to stressed MSMEs: Rs 20,000 crore
* Equity infusion for MSMEs: Rs 50,000 crore
* EPF support for 3 months: Rs 2,500 crore
* EPF contribution reduced for 3 months: Rs 6,750 crore
* Liquidity scheme for NBFCs/ HFCs/ MFIs: Rs 30,000 crore
* Partial Credit Guarantee Scheme 2.0 for NBFCs, first 20% loss borne by govt: Rs 45,000 crore
* Liquidity injection by REC and PFC: Rs 90,000 crore
* 25% reduction in TDS/TCS rate: Rs 50,000 crore
Fiscal Cost: Rs 25,500 crore (0.13% of GDP)
Size: Rs 3.10 lakh crore (1.55% of GDP)
* Free food grain supply to migrants for 2 mths: Rs 3,500 crore
* Interest subvention of 2% for prompt-payees of Mudra-Shishu loans: Rs 1,500 crore
* Special liquidity scheme to provide ` 10,000 working capital to 50 lakh street vendors: Rs 5,000 crore
* Credit-linked subsidy scheme for middle income families (Rs 6-18 lakh a year)
* Additional emergency working capital funding for farmers through Nabard: Rs 30,000 crore
* Concessional credit to 2.5 crore farmers through Kisan Credit Cards: Rs 2 lakh crore
Fiscal cost: Rs 5,000 crore (0.025% of GDP)
Size: Rs 1.5 lakh crore (0.75% of GDP)
* Financing facility for agri infra projects: Rs 1,00,000 crore
* Scheme for formalisation of Micro Food Enterprises: Rs 10,000 crore
* Funding for fishermen: `20,000 crore
* Animal Husbandry Infrastructure Development Fund to be set up: Rs 15,000 crore
Policy reforms:
* Essential Commodities Act to be amended to “deregulate” agricultural foodstuffs and allow clamping of stock limits on these only under “very exceptional circumstances”
* Formulation of a central law that will not bind farmers to sell crop only to licensed traders in the APMC (Agricultural Produce Market Committee) mandis
Fiscal cost: Rs 30,000 crore (0.15% of GDP)
Size: Rs 8,100 crore (0.04% of GDP)
* Defence FDI hiked to 74% from 49%
* Viability gap funding (VGP) for social infrastructure
Fiscal cost: Rs 8,100 crore VGP (0.04% of GDP)
* New policy for public sector enterprises, strategic sectors to be notified in which there will be at least one, but not more than four, PSEs in addition to private players
* Limit of state borrowings increased to 5% from 3% of GSDP
* MGNREGA gets additional Rs 40,000 crore
Fiscal cost: Rs 40,000 crore (0.2% of GDP)
