Finance Minister Nirmala Sitharaman announces fifth tranche of government's economic stimulus package.
Finance Minister Nirmala Sitharaman on Sunday announced measures taken by the government to boost economic activity in 7 sectors amid COVID-19 outbreak situation in the country. The seven sectors announced by Sithraman include:
- MNREGA
- Health
- Businesses and COVID
- De-criminalisation of Companies Act
- Education
- Ease of doing business
- Public sector enterprises
Today's announcement by the finance minister are part of the fifth and final tranche of government's Rs 20 lakh crore economic stimulus package to fight coronavirus crisis in the nation.
Among other announcements, Sitharaman said that the government has raised the borrowing limit of states from 3 per cent of Gross State Domestic Product to 5 per cent in 2020-21. This will add an extra availibility of Rs 4.28 lakh crore for the states.
States have so far borrowed only 14 per cent of the limit which is authorised to them. 86 per cent of the limit remains unutilised. Centre has decided to increase borrowing limits of states from 3 per cent to 5 per cent of Gross State Domestic Product (GSDP) for 2020-21, the finance minister announced on Sunday.
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