Sitharaman provided the specifics of the Rs 20.97 lakh crore ANBP 1.0

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Sitharaman provided the specifics of the Rs 20.97 lakh crore ANBP 1.0

In order to help recover an economy struck hard by the outbreak of the Covid-19 pandemic, finance minister Nirmala Sitharaman took stock of progress achieved under different schemes under the three Aatmanirbhar Bharat Packages (ANBP).

Following the Prime Minister’s declaration, in a series of press conferences from 13-17 May, Sitharaman provided the specifics of the Rs 20.97 lakh crore ANBP 1.0 It was followed on October 12 by Aatmanirbhar Bharat Kit 2.0 and on November 12, the third tranche.

On Friday, Sitharaman completed a thorough analysis of ANBP over three days with the secretaries of the different ministries and departments concerned, a statement from the finance ministry said on Sunday.
The statement said that banks approved loans worth Rs 2,05,563 crore to approximately 81 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector that was hit by disruptions induced by the coronavirus pandemic, sharing details of the progress achieved by different schemes under the ANBP.

Though Rs 1,58,626 crore was earned by 40 lakh MSME accounts until December 4, Rs 3 lakh crore collateral-free secured a loans-budgetary allocation of Rs 4,000 crore for the First Supplementary Requirement for Grants Scheme for FY 2020-21.

The finance minister revealed last month the Aatmanirbhar Bharat Package 3.0, saying that Rs 2.05 lakh crore was authorized and Rs 1.52 lakh crore was disbursed under ECLGS 1.0.0.
As part of the Aatmanirbhar Bharat Abhiyan 3.0 (announced on November 12), ECLGS Scheme was expanded as of February 29, 2020, by ECLGS 2.0 for the 26 stress and healthcare sectors with pending credit of above Rs 50 crore and up to Rs 500 crore.

Entities with unpaid loans over Rs 50 crore and not exceeding Rs 500 crore as of 29 February 2020, which were less than or equivalent to 30 days past due as of 29 February 2020, are liable under ECLGS 2.0, the ministry said. Loans issued under ECLGS 2.0 would be subject to a five-year tenor and a 12-month principal repayment moratorium.
The entire scheme (ECLGS 1.0 and ECLGS 2.0) valid till March 31, 2021, it said.
Energy, construction, real estate, textiles, pharmaceuticals, logistics, cement, car parts and hotels, restaurants, and tourism were some of the sectors listed by the Kamath Committee for one-time debt restructuring.
In August, the RBI set up a committee led by former ICICI Bank chairman K V Kamath to recommend financial criteria to be taken into account in the resolution plans under the ” Resolution Framework for COVID-19 related Stress ” along with sector-specific benchmark ranges for certain parameters.

The finance ministry said that Rs 775 crore was allocated to the Small Industries Development Bank of India (SIDBI) under the Rs 1,500 crore ‘Interest Subsidy for MUDRA-Shishu Loan’ to discuss the success of other schemes.
Of this sum, Rs 206.73 crore has already been disbursed to Member Lending Institutions (MLIs) as part of the first tranche of the interest subsidy gain immediately issued.

With respect to the Kisan Credit Card (KCC) programme, another tweet said that as of December 4, 2020, it covered 1,69 crore farmers with an approved credit cap of Rs 1,54 lakh crore.
As part of the Aatmanirbhar Bharat Package, the government has declared that through a special saturation push, it will protect 2.5 crore farmers under the KCC scheme with a credit boost of Rs 2 lakh crore.

It also reported that under the revised Partial Credit Guarantee System, public sector banks (PSBs) purchased bonds and commercial papers worth Rs 27,794 crore issued by 67 NBFCs (PCGS).
‘PCGS 2.0-Purchase of Rs 27,794 cr. the portfolio already accepted by banks… Rs 25,000 cr. disbursed by NABARD (as of December 4) from Additional Emergency Working Capital Support for farmers,’ it added.

It also reported that under the revised Partial Credit Guarantee System, public sector banks (PSBs) purchased bonds and commercial papers worth Rs 27,794 crore issued by 67 NBFCs (PCGS).
‘PCGS 2.0-Purchase of Rs 27,794 cr. the portfolio already accepted by banks… Rs 25,000 cr. disbursed by NABARD (as of December 4) from Additional Emergency Working Capital Support for farmers,’ it added.

Between 1 April 2020 and 8 December 2020, the Central Board of Direct Taxes (CBDT) granted refunds of over Rs 1,45,619 crore to more than 89.29 lakh taxpayers. Income Tax refunds of Rs. 43,274 crore were issued in 87,29,626 cases and Rs. 1,02,345 crore corporate tax refunds were issued in 1,99,554 cases, it stated.

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