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Atmanirbhar Bharat progress report: Rs 1.18 lakh crore given to businesses, Rs 25,000 crore to farmers

The Rs 20 lakh crore Atmanirbhar Bharat package was announced by Prime Minister Narendra Modi earlier this year

twitter-logoBusinessToday.In | September 13, 2020 | Updated 16:52 IST
Atmanirbhar Bharat progress report: Rs 1.18 lakh crore given to businesses, Rs 25,000 crore to farmers
The government said that Rs 25,000 crore has been disbursed to farmers

The Finance Ministry on Sunday shared a report on progress made by various schemes under Atmanirbhar Bharat package. The Rs 20 lakh crore Atmanirbhar Bharat package was announced by Prime Minister Narendra Modi earlier this year to help economy in fight against COVID-19 pandemic.

The government said that Rs 25,000 crore has been disbursed to farmers under the Rs 30,000 crore additional emergency working capital funding through National Bank for Agriculture and Rural Development (NABARD) as on August 28. The balance amount of Rs 5,000 crore under Special Liquidity Facility (SLF) has been allocated to NABARD by RBI for smaller NBFCs and NBFCs and MFIs. NABARD is finalising operational guidelines to implement it soon, the Ministry of Finance said in an official release.

The ministry further said that the banks have approved purchase of a portfolio of Rs 25,055.5 crore and they are currently in the process of approval for additional Rs 4,367 crore, as of August 20, under the Rs 45,000 crore Partial Credit Guarantee Scheme 2.0 for NBFCs, HFCs and MFIs.

Rs 30,000 crore Special Liquidity Scheme for NBFCs, HFCs, MFIs has also progressed well, the ministry added. As of September 11, thirty seven proposals of an amount of Rs 10,590 crore have been approved. The ministry said that six applications seeking financing of Rs 783.5 crore are under process.

Sharing details about the Rs 3 lakh crore collateral free Emergency Credit Line Guarantee Scheme for businesses including MSMEs, the government said that as on September 10 public sector banks and 23 private sector banks along with NBFCs have sanctioned Rs 1,63,226.49 crore to 42,01,576 borrowers. Rs 1,18,138.64 crore have been disbursed to 25,01,999 borrowers, it added.

On income tax refunds, the ministry said that refunds of more than Rs 1,01,308 crore have been issued to more than 27.55 lakh taxpayers between April 1 and September 8. The refunds of Rs 30,768 crore have been issued in 25,83,507 cases and corporate tax refunds of Rs 70,540 crore have been issued in 1,71,155 cases. "All corporate tax refunds up to Rs 50 crore have been issued in all cases, wherever due. Other Refunds are under process," it said.

Also read: Why Modi govt's Atmanirbhar Bharat Abhiyan would fail

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