Under PMGKP, the government distributed cash assistance, free foodgrains and also employment opportunities under MNREGA. The 1.70 lakh crore was aimed at easing economic distress, mainly for poor and underprivileged class.
FM Sitharaman said that lenders must extend support to borrowers as and when the moratorium on loan repayments is lifted, asking them to roll out resolution schemes by September 15, 2020.
The Congress leader asserted that the two options given by the Modi government to the states to bridge the Goods and Services Tax (GST) compensation gap are "unacceptable".
For all those who have no tax liabilities but who have not filed their returns between July 2017-January 2020 there will be zero late fees, Sitharaman said.
Finance minister Nirmala Sitharaman announced the final tranche of mega Covid-19 package on Sunday, with focus on MNREGA, education and health.
"The public expenditure on health will be increased. Investment at grass root levels will be ramped up for health and wellness centres, both in rural and urban areas," she added.
#LIVE: Press Conference by Finance Minister Nirmala Sitharaman https://t.co/RIO05UUzxx — Newsroom Post (@NewsroomPostCom) May 17, 2020
The Finance Minister on Saturday said that the central government will introduce competition, transparency and private sector participation in the coal sector and will do infrastructure development of Rs 50,000 crore.
She also proposed amendments to the Essential Commodities Act to enable better price realisation for farmers and said no stock limit should apply to processors or value chain participants.
This stimulus is the fourth tranche of Rs 20 lakh crore special economic package announced by the Prime Minister to revive the economy battered by the Covid-19 pandemic.