MSMEs
Steps proposed by the government for the MSMEs:
- Amendments will be made to Factor Regulation Act, 2011.
- Amendments to be made to enable NBFCs to extend invoice financing to MSMEs.
- Provision of subordinated debt for MSMEs by Banks which is guaranteed by Credit Guarantee Trust. The debt will count as quasi-equity.
- App-based financing loans will be introduced for MSMEs App-based invoice financing loans product to be launched, to obviate the problem of delayed payments and cash flow mismatches for MSMEs.
Public sector banks (PSBs):
- Robust mechanism is in place to monitor and ensure the health of all scheduled commercial banks and depositors’ money is absolutely safe.
Agriculture
- The government aims to double farmers’ income by 2022
- Help 15 lakh farmers solarize their grid-connected pump sets
- “KisanRail” and “KrishiUdaan” for seamless transport of perishable farm goods
- Increasing coverage of artificial insemination to 70%
- Raise fishery exports to Rs 1 lakh crore by 2024-25
Education
- About 150 higher educational institutions will start apprenticeship embedded courses
- Special bridge courses to improve skill sets of those seeking employment abroad
- Ind-SAT to be conducted in Africa and Asia under study in the India programe
- Allocation of Rs 99,300 crore for the educational sector in 2020-21
- Allocation of Rs 3,000 crore for skill development
Financial sector
- Deposit Insurance Coverage to increase from Rs 1 lakh to Rs 5 lakh per depositor
- Eligibility limit for NBFCs for debt recovery under SARFAESI Act proposed to be reduced to asset size of Rs 100 crore or loan size of Rs 50 lakh
- Separation of NPS Trust for government employees from PFRDAI
- Proposal to sell the balance holding of government in IDBI Bank
Water, Wellness, and Sanitation Goals
- More than 20, 000 empanelled hospitals under PM Jan Arogya Yojana
- “TB Harega Desh Jeetega” campaign launched to end TB by 2025
- Expansion of Jan AushadhiKendra Scheme to all districts by 2024
- Focus on liquid and greywater management along with waste management
+ TAX AMENDMENTS
