Rs 40,000 Crore Additional Spending on MGNREGA to Boost Employment, Says FM Nirmala Sitharaman in Final Tranche of Aatmanirbhar Bharat Economic Package
Finance Minister Nirmala Sitharaman on Sunday addressed the fifth and final tranche on government’s Rs 20 lakh crore package. In a major development, the government will now allocate an additional Rs 40,000 crores to MGNREGS to provide employment boost. This move will help generate nearly 300 crore person days in total and is over and above Rs 61,000 allocated in the budget.
New Delhi, May 17: Union Finance Minister Nirmala Sitharaman on Sunday addressed the fifth and final tranche on government’s Rs 20 lakh crore package. In a major development announced by FM, the government will now allocate an additional Rs 40,000 crores to MGNREGS to provide employment boost. This move will help generate nearly 300 crore person days in total and is over and above Rs 61,000 allocated in the budget. Commercial Mining, FDI Hike in Defence, Space Exploration for Private Sector: What Nirmala Sitharaman Announced in 4th Tranche of Economic Stimulus.
Rs 40,000 crore allocation will "address the need for more work including returning migrant workers in Monsoon season as well. Creating of a larger number of durable and livelihood assets including water conservation assets. Will boost the rural economy through higher production." Nirmala Sitharaman Announces 11 Measures For Agriculture, Animal Husbandry, Fisheries And Beekeeping Under Third Tranche of Aatmanirbhar Bharat Economic Package, Know Details Here.
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On Saturday, the government gave a mega push to boost mining, defence, civil aviation and power distribution sectors. In her media address, the Finance Minister had announced structural reforms under the Rs 20 lakh-crore economic package for the 'self-reliant India' programme. The measures have been announced as part of the Aatmanirbhar Bharat Package announced by Prime Minister Narendra Modi recently.
The government decided to raise the limit for foreign direct investment (FDI) for defence manufacturing from 49 to 74 per cent under the automatic route. Sitharaman said India's robust start-up ecosystem will be linked to the nuclear sector and Technology Development cum Incubation Centres will be set up for fostering synergy between research facilities and tech-entrepreneurs.
(The above story first appeared on LatestLY on May 17, 2020 12:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).