CURRENT AFFAIRS

Detailed explanation-1: -Unveiling the first set of components of the Rs 20 lakh crore COVID-19 economic stimulus package announced by Prime Minister Narendra Modi, Sitharaman said Rs 90, 000 crore liquidity infusion will be made in electricity distribution companies to help them fight the current financial stress.

Detailed explanation-2: -This will be available to units with upto Rs 25 crore outstanding and turnover of up to Rs 100 crore whose accounts are standard. The units will not have to provide any guarantee or collateral of their own. The amount will be 100% guaranteed by the Government of India providing a total liquidity of Rs.

Detailed explanation-3: -These schemes and programmes inter alia include Prime Minister’s Employment Generation programme (PMEGP), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), Credit Guarantee Scheme for Micro and Small Enterprises, Micro and Small Enterprises - Cluster Development Programme (MSE-CDP), etc.

Detailed explanation-4: -For ABRY, which was launched post the COVID-19 lockdown in 2020, the Budget proposed increasing spending from ₹3, 130 crore in BE 2021-2022 to ₹6, 400 crore in BE 2022-2023. Under the scheme, the government pays the employees’ share of EPF for new employees with a salary of under ₹15, 000 a month.

Detailed explanation-5: -The main purpose of launching this program was to support the country during the pandemic, for which the prime minister announced an economic package worth 20 lakh crore. Atmanirbhar Bharat is based on 5 basic components: economy, demography, system, demand, and infrastructure.