Finance Minister Nirmala Sitharaman announced the break-up of the ₹20 lakh crore economic package, starting Wednesday, May 13. The fund distribution of “Atma Nirbhar Bharat” Economic package was divided into five tranches. The press conferences were an extension of Prime Minister Modi’s speech on Tuesday about increasing self-reliance.
Here is an overview of the Finance Minister’s Press Conference:
Tranche one of the economic package was announced on Wednesday, May 13. The total package announced was worth ₹5.94 lakh crore with the main focus topics being Micro, Small, Medium Economies (MSMEs), Non-Banking Financial Companies (NBFCs), and Housing Finance Companies (HFCs).
It had the following breakdown:
The definition of MSMEs has also been changed to include turnover costs and eliminate the distinction between manufacturing and services enterprises.
As per the new definition:
Micro Industries: will include an investment of over ₹1 crore and a turn over of more than ₹5 crore;
Small Industries: consist of investment of more than ₹10 crore and turnover of over ₹50 crore;
Medium Industries: consist of investment of ₹20 crore or higher and a turnover of ₹100 crore and more.
The distribution of funds was as follows:
Tranche Three (announced on Friday, May 15) consisted of funds worth ₹1.5 lakh crore with special attention to the animal husbandry sector.
Fund breakdown is as follows:
The Pradhan Mantri Matsya Sampada Yojana was launched for “integrated, sustainable, inclusive development of marine and inland fisheries to plug critical gaps in the fisheries value chain.”
With a worth of ₹48,100 crore focussing on structural reforms. The final funds were distributed as follows:
Validity Gap Funding: ₹8,100 crore
Additional MGNREGs: ₹40,000 crore
RBI measures: ₹8,01,603 crore
This is a simple breakdown of the Atma Nirbhar Bharat Economic Package.
The source of this data can be found here.