Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / India News / 'Atmanirbhar' stimulus: Employment, income-tax relief for home-buyers, boost for vaccine
  • India

    'Atmanirbhar' stimulus: Employment, income-tax relief for home-buyers, boost for vaccine

    Siddhant Pandey
    Written by
    Siddhant Pandey
    Twitter
    Last updated on Nov 13, 2020, 12:18 am
    'Atmanirbhar' stimulus: Employment, income-tax relief for home-buyers, boost for vaccine
  • Union Finance Minister Nirmala Sitharaman on Thursday announced a fresh economic stimulus to spur economic growth and boost demand.

    The FM said that there are signs of a strong economic recovery in India.

    As part of the government's Atmanirbhar Bharat Abhiyaan 3.0, Sitharaman announced income tax relief for home-buyers, a Rs. 900 crore boost for COVID-19 vaccine R&D, more jobs, etc.

  • In this article
    RBI predicts likelihood of economy returning to growth in Q3 'Economic growth sustainable, not because of pent-up demand' Boost for employment in Atmanirbhar Bharat Abhiyaan 3.0 Atmanirbhar Bharat Rozgar Yojana: Government subsidy on eligible employees' EPF Emergency Credit Line Guarantee Scheme extended till March Boost for Atmanirbhar Manufacturing Production-linked incentives in Champion sectors Rs. 65,000 crore to ensure fertilizers for farmers Income tax relief for home-buyers Rs. 900 crore for COVID-19 vaccine R&D 'Size of stimulus Rs. 2.65 lakh crore'
  • Economic recovery

    RBI predicts likelihood of economy returning to growth in Q3

    RBI predicts likelihood of economy returning to growth in Q3
  • Addressing a press conference, Sitharaman noted that the Reserve Bank of India (RBI) has predicted a strong likelihood of the Indian economy returning to positive growth in the third quarter of the fiscal year 2020-21, ahead by a quarter of the earlier forecast.

    She also highlighted that active COVID-19 infections in India have declined from 10 lakh in mid-September to 4.89 lakh cases currently.

  • Economic recovery

    'Economic growth sustainable, not because of pent-up demand'

  • Sitharaman said, "The markets are at a record high. Record market capitalization is happening. Net investment FPIs are positive. And the reserves of foreign exchange, like never before, are at $560 billion."

    The FM added that prominent economists suggest the economic rebound is not just due to pent-up demand. "It's a sustainable, strong economic growth," she added.

  • New announcements

    Boost for employment in Atmanirbhar Bharat Abhiyaan 3.0

    Boost for employment in Atmanirbhar Bharat Abhiyaan 3.0
  • Sitharaman announced a fresh scheme—Atmanirbhar Bharat Rozgar Yojana—to incentivize the creation of new employment.

    New employees recruited by EPFO-registered organizations, earning under Rs. 15,000/month, will benefit from this scheme for two years. A new employee is someone who has never been registered under the EPFO before, or had lost their job between March 1, 2020-September 30, 2020, and was re-employed after October 1, 2020.

  • Information

    Atmanirbhar Bharat Rozgar Yojana: Government subsidy on eligible employees' EPF

  • Under the scheme, the Centre will pay an eligible employee's EPF contribution of 12%, if their establishment employs more than 1,000 people. For establishments employing under 1,000 people, the Centre will pay an employee's EPF contribution of 24%.

  • New announcements

    Emergency Credit Line Guarantee Scheme extended till March

  • Further, the existing Rs. 3 lakh crore Emergency Credit Line Guarantee Scheme—a fully guaranteed and collateral-free scheme—has been extended till March 31.

    Sitharaman announced the launch of ECLGS 2.0 for 26 sectors stressed due to COVID-19 with the aim of helping entities sustain employment and meet liabilities.

    Entities will get additional credit up to 20% of outstanding credit; the tenure will be five years.

  • New announcements

    Boost for Atmanirbhar Manufacturing Production-linked incentives in Champion sectors

  • Additionally, Rs. 1.46 lakh crore boost for Atmanirbhar Manufacturing Production-linked incentives for 10 Champion sectors was announced. The move is aimed at boosting the competitiveness of domestic manufacturing and employment.

    Rs. 18,000 crore additional outlay will be provided over the budget estimates for Pradhan Mantri Awas Yojna in urban areas. The government is aiming to create 78 lakh additional jobs with the move.

  • New announcements

    Rs. 65,000 crore to ensure fertilizers for farmers

    Rs. 65,000 crore to ensure fertilizers for farmers
  • The government will provide Rs. 6,000 crore of Equity to Debt Platform of NIIF (National Infrastructure & Investment Fund) where private equity participation will also come in.

    Rs. 65,000 crore will be directed toward ensuring the adequate availability of fertilizers to farmers.

    To boost rural employment, an additional outlay of Rs. 10,000 crore will be provided for PM Garib Kalyan Rozgar Yojana.

  • New announcements

    Income tax relief for home-buyers

  • For primary residential real estate sales, valued up to Rs. 2 crore, the Centre has raised the relief on the difference between circle rate and agreement value to 20% from 10%.

    Consequential relief up to 20% shall also be allowed to buyers of these units.

    The income tax relief is only meant for first-time buyers and will be available till June 30, 2021.

  • New announcements

    Rs. 900 crore for COVID-19 vaccine R&D

    Rs. 900 crore for COVID-19 vaccine R&D
  • Rs. 900 crore will be provided for COVID Suraksha Mission for research and development of the Indian COVID vaccine.

    Rs. 3,000 crore 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, etc.

    Rs. 10,200 crore additional budget outlay will be provided toward capital and industrial expenditure.

  • Quote

    'Size of stimulus Rs. 2.65 lakh crore'

  • Sitharaman said, "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 crore, 15% of the national GDP as stimulus takeaway."

  • Finance Ministry
  • Nirmala Sitharaman
  • Reserve Bank Of India
  • RBI
  • Coronavirus
  •  
Latest News
  • NewsBytes Briefing: Investigation uncovers Facebook's pro ISIS move, and more
    NewsBytes Briefing: Investigation uncovers Facebook's pro ISIS move, and more
    Science
  • PUBG: New State announced for iOS, Android; Unavailable in India
    PUBG: New State announced for iOS, Android; Unavailable in India
    Science
  • Indian versions of 'Suits', 'House', 'Monk', 'SNL' are being planned
    Indian versions of 'Suits', 'House', 'Monk', 'SNL' are being planned
    Entertainment
  • Google integrates lightweight HTML5 games into Chrome browser on Android
    Google integrates lightweight HTML5 games into Chrome browser on Android
    Science
  • Sony announces next-generation PSVR headset for the PlayStation 5
    Sony announces next-generation PSVR headset for the PlayStation 5
    Science
Related Timelines
  • Sitharaman unveils details of PM Garib Kalyan Rojgar Abhiyaan
    Sitharaman unveils details of PM Garib Kalyan Rojgar Abhiyaan
    India
  • Sitharaman fifth tranche announcements: All sectors open to private firms
    Sitharaman fifth tranche announcements: All sectors open to private firms
    India
  • Structural reforms in 8 sectors; coal won't be government monopoly
    Structural reforms in 8 sectors; coal won't be government monopoly
    India
  • Day 3: Nirmala Sitharaman announces stimulus for agriculture, allied activities
    Day 3: Nirmala Sitharaman announces stimulus for agriculture, allied activities
    India
Trending Topics
ISRO Vaccine Farmers Protest
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love India news?

Subscribe to stay updated.

India Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News Narendra Modi Facebook YouTube Hollywood News WhatsApp Bollywood News ISRO Rahul Gandhi Yoga
Honda Batman Football News BMW Vaccine Reliance Jio OPPO Amazon Food News, Healthy Recipes Royal Challengers Bangalore
Toyota Fashion Tips Farmers Protest Mercedes Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics
Avengers Neha Kakkar Premier League Big Bang Theory
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021