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In the 5th Press Conference on 17 May, 2020 on stimulus package to fight COVID-19 under ‘Aatma Nirbhar Bharat Abhiyaan’, the Union Finance Minister Smt. Nirmala Sitharaman referred to the vision laid out by PM Shri Narendra Modi in his address to the Nation on 12 May, 2020. She said in order to prove the resolve of ‘Aatma Nirbhar Bharat’, land, labour, liquidity and laws have all been emphasized in the Package.
HIGHLIGHTS
- Rs 40,000 crore increase in allocation for MGNREGS to provide employment boost.
- Increased investments in Health and its reforms to prepare India for future pandemics.
- Technology Driven Education with Equity post-COVID.
- Further enhancement of Ease of Doing Business through IBC related measures.
- Decriminalization of Companies Act defaults.
- Ease of Doing Business for Corporates.
- Public Sector Enterprise Policy for a New, Self-reliant India.
- Increase borrowing limits of States from 3% to 5% for 2020-21 only & promoting State level reforms.