2nd August 2021

Confidant Classes

Competitors' very first choice

Home | NEWS Summary | Final Press Conference on Economic Package

Final Press Conference on Economic Package

With a combination of various reforms, fiscal and liquidity measures, Finance Minister today completed the announcement of the final stage of Rs. The 20 lakh crore economic package previously announced by Prime Minister Narendra Modi. To improve the livelihoods of the poor, the Modi government has today increased the MGNREGA budget increased by additional Rs. Rs 40 billion. Sitharaman also announced that public sector companies or PSUs will leave non-strategic areas and that private companies will be able to enter all sectors.The Minister of Finance also detailed the distribution of rupees. Package of 20 lakh crore including liquidity measures of Rs. 8 lakh crore announced earlier the RBI, as well as Prime Minister Gareeb Kalyan Yojana.


  • Centre has decided to accede to the request and increased borrowing limits of states from 3% to 5% for 2020-21.
  • States have so far borrowed only 14% of the limit authorised but 86% of the authorised borrowing remains unutilised.
  • Revenue deficit grants to states worth Rs. 12,390 crore given on time in April and May, despite Centre’s stressed resources.
  • Devolution of taxes worth Rs. 46,038 crore in April was given fully as if Budget estimates were valid, even though actual revenue shows unprecedented decline from Budget estimates.
  • New policy to broadly categorise strategic sectors Public sector enterprise policy.
  • All sectors will be open to private sectors also while PSUs will play an important role in defined areas.
  • Lower penalties for all defaults for small companies, one-person companies, producer companies and start-ups.
  • Companies listing only NCDs on stock exchange will not be regarded as listed companies.
  • Direct listing of securities in foreign jurisdictions permitted.
  • The amendments in Companies Act will de-clog criminal courts and NCLT.
  • Decriminalisation of Companies Act violations involving minor technical and procedural defaults, majority of compoundable offences sections to be shifted to internal adjudication mechanism.
  • Minimum threshold to initiate insolvency proceedings raised to Rs. 1 crore from Rs. 1 lakh. This will largely insulate MSMEs.
  • No fresh insolvency proceedings upto 1 year, Debts related to Covid shall be excluded from IBC.
  • Top 100 universities will be permitted to automatically start online courses by May 30 this year.
  • Extensive use of radio, community radio and podcasts One TV channel will be earmarked for every class from 1 to 12.
  • Online education during Covid; Provision for live telecast of interactive channels with experts through Skype.
  • Health and wellness centres in urban and rural areas will be increased, Public health expenditure will be increased, The central govt has already announced Rs. 15,000 crore healthcare funds to fight Covid-19.
  • Govt to allocate additional Rs.  40,000 crore for MGNREGA to provide employment boost. It will help generate 300 crore person days in total.
  • 12 lakh EPFO subscribers withdrew Rs. 6,060 crore under the Covid pandemic withdrawal.
  • Jan Dhan account: 20 crore women got more than Rs. 10,000 crores.
  • PM Gareeb Kalyan Package Yojana: Direct benefit transfer has reached 8.9 crore farmers. Amount disbursed Rs. 16,394 crores.
  • The definition of “covid-related debt” will be announced soon in a notification,
  • RBI measures of Rs. 801,603 included in Rs. 20 lakh crore economic package.
  • Total stimulus package is worth Rs. 20,97,053 crore, Fourth and fifth tranche is worth Rs. 48,100 crore,
  • Stimulus measures announced in third part worth Rs. 1.5 lakh crore Second tranche was worth Rs. 310,000 crore,
  • Economic package tranche 1 was worth Rs. 594,500 crore Stimulus measures from earlier announcements was worth Rs. 192,800 crore,
  • Revenue loss due to tax concession is Rs. 7,800 crore This will give states extra resources of Rs. 4.28 lakh crore.

Judiciary FAQ’s Download

Read More

Daily NEWS Summary | 01-08-2021

Tokyo Olympics Sindhu wins bronze in singles badminton as India enters men’s hockey semifinals after 49 years Daily NEWS Summary…
Read More

Daily NEWS Summary | 31-07-2021

Jaish militants killed during rally Daily NEWS Summary | 31-07-2021; Saturday morning brought news of two militants killed during a…
Read More

Daily NEWS Summary | 30-07-2021

College Cut-off will skyrocket, 70,004 CBSE class 12 students exceed 95% Daily NEWS Summary | 30-07-2021; The number of Central…
Read More

Careers after Class 12th | Commerce

Careers after the 12th are the most important decisions in life. There are many career options available after Class 12…
Read More

Daily NEWS Summary | 29-07-2021

Supreme Court urged to take cognizance of alleged murder of Jharkhand Additional District Judge Daily NEWS Summary | 29-07-2021; The…
Read More

The National Institutes Of Food Technology, Entrepreneurship And Management Bill, 2021

Parliament has passed National Institutes of Food Technology, Entrepreneurship and Management Bill 2021, with this NIFTEM in Haryana and the…
Read More

Daily NEWS Summary | 28-07-2021

Parliamentary panel not authorized to discuss Pegasus Daily NEWS Summary | 28-07-2021; In total failure, the Standing Committee on Information…
Read More

Daily NEWS Summary | 27-07-2021

Basavaraj Bommai will be the new Chief Minister of Karnataka Daily NEWS Summary | 27-07-2021; Basavaraj Bommai, 61, was elected…
Read More

Daily NEWS Summary | 26-07-2021

Yediyurappa announces his resignation as Chief Minister of Karnataka Daily NEWS Summary | 26-07-2021; B S Yediyurappa announced his resignation…
Read More

Daily NEWS Summary | 25-07-2021

Pegasus issue: Rajya Sabha MP moves SC in court-supervised investigation Daily NEWS Summary | 25-07-2021; John Brittas, a member of…
Read More

AatmNirbhar Bharat amazon BHARAT BIOTECH CBSE corona vaccination CORONA VACCINE Coronavirus Covaxin covaxine COVID COVID19 COVID 19 Covid update Covid updates covishield DAILY NEWS SUMMARY Donald trump DRDO Facebook farmers protest GST ICMR indian economy INDO-CHINA BORDER DISPUTE Indo-China border disputes INDO-CHINA CONFLICT JOE BIDEN LAC lockdown Mamata Banerjee Mann ki baat MPC NARENDRA MODI PRASHANT BHUSHAN RAHUL GANDHI RAJASTHAN POLITICAL CRISIS RAJSTHAN POLITICAL CRISIS RBI RIL Sputnik V Supreme Court supreme court of india twitter WHO कोरोना वायरस


Enjoy this? Please spread the word :)