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Govt to allocate additional Rs 40,000 crore under MGNREGS: FM

New Delhi: In order to provide a fillip to employment, Finance Minister Nirmala Sitharaman on Sunday announced an additional allocation of Rs 40,000 crore under MGNREGS.

Addressing a press conference here along with MoS Finance Anurag Thakur, to announce the fifth and final tranche of announcements as part of the Prime minister Narendra Modi’s Rs 20 lakh crore package to help realise the vision of ‘Aatmanirbhar Bharat’, Ms Sitharaman said that to prepare the country for any future pandemics, Government will increase Public Expenditure on Health and invest in grass-root health institutions.
She said PM eVIDYA – a programme for multi-mode access to digital/online education will be launched immediately and top 100 universities will be permitted to automatically start online courses by 30th May.

‘With an eye on further enhancement of Ease of Doing Business, Government announces suspension of fresh initiation of insolvency proceedings up to one year; decides to exclude COVID-19 related debt from the definition of “default” under IBC,’ she said.

The Union Finance Minister said a new ‘Aatmanirbhar Bharat’ will stand on a new Public Sector Enterprise Policy.

‘In strategic sectors, at least one enterprise will remain in the public sector but the private sector will also be allowed. In other sectors, PSEs will be privatised,’ she said.

She further said that the Centre has decided to accede to the request by States for a special increase in borrowing. Borrowing limits of States is being raised from 3 per cent to 5 per cent, for 2020-21 only, she said.
The Union Finance Minister said to promote State-level reforms, part of the borrowing will be linked to specific reforms like increasing job creation through investment and promoting urban development, health and sanitation.

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