Finance Minister N Sitharaman is addressing Press Conference at National Media centre.
Union Finance Minister Nirmala Sitharaman said that the Reserve Bank of India (RBI) has predicted a strong likelihood of the Indian economy returning to positive growth in Q3:2020-21.
The size of the stimulus being provided by the government, as part of the 12 announcements made today under Aatmanirbhar Bharat 3.0, amounts to Rs 2.65 lakh crores. 15% of national GDP as stimulus takeaway: FM Nirmala Sitharaman
# Rs 900 crores provided for COVID Suraksha Mission for research and development of the Indian COVID vaccine to the Department of Biotechnology: Finance Minister Nirmala Sitharaman
# Rs 10,200 crore additional budget outlay will be provided towards Capital and industrial expenditure: MoS Finance Anurag Thakur
# To ensure social distancing, there were 7 people on a counting desk this time as compared to the normal number of 14 with an additional 33,000 polling booths: Sunil Arora, Chief Election Commissioner, on a question of allegations of ‘slow counting’
# Rs 3,000 crores will be released to EXIM Bank for promotion of project exports through Lines of Credit under IDEAS Scheme. Supported projects cover Railways, power, transmission, road and transport, auto and auto components, sugar projects etc: FM Nirmala Sitharaman
# An additional outlay of Rs 10,000 crores will be provided for PM Garib Kalyan Rozgar Yojana in the current financial year, to boost rural employment: FM Sitharaman
# So, by 2025 they will have to fund projects to the extent of Rs 1,10,000 Crores. We are creating this avenue for them to do it even through Debt Market: Finance Minister Nirmala Sitharaman
# We are now giving Rs 6000 Crores of Equity to Debt Platform of NIIF (National Infrastructure & Investment Fund) where private equity participation will also come in. NIIF itself has invested Rs 2000 Crores: Finance Minister Nirmala Sitharaman
# Rs 65,000 crores being given to ensure adequate availability of fertilisers to farmers to enable timely availability of fertilisers in the upcoming crop season: MoS Finance Anurag Thakur
# For primary residential real estate sales, relief on the difference between circle rate & agreement value up to 20% vs 10% earlier. We expect clearance of inventories through this step: FM Nirmala Sitharaman
