105 Union Budget 2021-22 Provisions implemented by Government

1. Incentives for Start-ups

Eligibility for claiming tax holiday extended for start-ups incorporated till 31.03.22. Threshold limit for eligible start-ups was earlier raised to Rs 100cr. from Rs 25cr. The capital gain exemption for investment in start-ups extended by 1 year till 31.03.22.

Announcement – “In order to incentivise start-ups in the country, / propose to extend the eligibility for claiming tax holiday for start-ups by one more year – till 31s1 March, 2022. Further, in order to incentivise funding of the start-ups, / propose to extend the capital gains exemption for investment in start-ups by one more year – till 31st March, 2022.”

Progress So Far

-To incentivise start-ups in the country, eligibility for claiming tax holiday for start-ups has been extended for start-ups incorporated till 31st March 2022. The threshold limit for eligible start-ups was earlier raised to Rs.100 crore from Rs.25 crore.

-To incentivise funding of the start-ups, the capital gains exemption for investment in start-ups has also been extended by 1 more year till 31st March 2022.

2. Relaxation for NRI’s

Announcement – When Non-Resident Indians return to India, they have issues with respect to their accrued incomes in their foreign retirement accounts. This is usually due to a mismatch in taxation periods. They also face difficulties in getting credit for Indian taxes in foreign jurisdictions. I propose to notify rules for removing their hardship of double taxation.”

Progress so Far: Finance Act, 2021 has inserted specific section 89A in the Income-tax Act, 1961 to provide relief to NRI taxpayers who have an issue with respect to their accrued incomes in their foreign retirement accounts due to mismatch in taxation period.

3. No ITR for Specified Senior Citizens

A new section 194P inserted in Income-tax Act,1961 provides that senior citizens above the age of 75 years, having only pension & interest income from accounts maintained with bank in which they receive pension will be exempted from filing ITR.

Announcement – Now in the 75th year of Independence of our country, when we continue our endeavour with renewed vigour, we shall reduce compliance burden on our senior citizens who are 75 years of age and above. For senior citizens who only have pension and interest income, I propose exemption from filing their income tax returns. The paying bank will deduct the necessary tax on their income.

Progress so Far: Through Finance Act, 2021 a new section 194P was inserted in the Income-tax Act, 1961 which provides that senior citizens above the age of 75 years, having only pension & interest income from accounts maintained with bank in which they receive pension will be exempted from filing Income Tax Returns.

4. Reduction in Time for Income Tax proceedings

Time limit to re-open IT assessment cases reduced to 3 years from 6 years. The assessment can be re-opened up to 10 years, only when there is evidence of concealment of income Rs. 50 lakh or more in a year with the approval of Pr. CCIT.

Announcement – I therefore propose to reduce this time-limit for re-opening of assessment to 3 years from the present 6 years. In serious tax evasion cases too, only where there is evidence of concealment of income of f50 lakh or more in a year, can the assessment be re-opened up to 10 years. Even this reopening can be done only after the approval of the Principal Chief Commissioner, the highest level of the Income Tax Department.

Progress so Far:

• Finance Act, 2021 has reduced the time limit for re-opening of assessment to 3 years from the earlier 6 years.
• Beyond the period of 3 years, cases can be re-opened to 10 years with the approval of the Principal Chief Commissioner of Income Tax only where there is evidence of concealment of income of Rs. 50 lakh or more in a year.

5. Pre-filling of Income Tax Returns

Announcement – In order to ease compliance for the taxpayer, details of salary income, ta payments, TDS, etc. already come pre-filled in income ta returns. To further ease filing of returns, details of capital gains from listed securities, dividend income, and interest from banks, post office, etc. will also be pre-filled.

Progress so Far:

• To make tax compliance more convenient, pre-filled Income Tax Returns (ITR) have been provided to individual taxpayers.
• It intends to make filing of IT returns easier.
• Initial pre-filled data includes salary income.
• Scope of information for pre-filling is being expanded to include interest, dividend etc.

6. Faceless Appeals

Faceless Appeals provide many benefits to taxpayers like random allocation of cases, facility to reply to notice electronically, no visits required to IT Office & no physical interface with the Dept. This has brought Ease of Tax Compliance for taxpayers.

Announcement – In order to take the reforms initiated by the Department to the next level and to eliminate human interface, I propose to amend the Income Tax Act so as to enable faceless appeal on the lines of Faceless Assessment.

Progress so Far:

Benefits

• No visits to Income Tax Office required
• No physical interface with the department required
• Reply to notice electronically
• Speedy completion of appeals
• Ease of compliance

7. Faceless Assessment Scheme

Faceless assessment Scheme provides for a team-based assessment with dynamic jurisdiction and no human interface. It is major tax reform based on the key principles of efficiency, transparency and accountability.

Faceless Appeals provide for a more efficient & transparent tax administration & enhanced taxpayer service. By 27.12.21, 62,604 appeals disposed in a faceless manner by NFAC.

ITD has effectively leveraged technology for easing tax compliance for taxpayers.

Announcement – In order to impart greater efficiency, transparency and accountability to the assessment process, a new faceless assessment scheme has already been introduced.

Progress so Far:

• In order to dispose appeals in a faceless manner so as to impart greater efficiency, transparency and accountability in the appeal proceedings, a National Faceless Appeal Centre was set up.
• As of 27th December 2021, 62,604 appeals have been disposed off by the National Faceless Appeal Centre in a faceless manner wherein there has been no physical interface with the Department.

Benefits

• No human interface
• Expeditious disposal of cases
• Ease of compliance for taxpayers
• Transparency and efficiency
• Functional specialisation
• Improvement in quality of assessments

8. Faceless Assessment Scheme

As of 28th December, 2021, under peer-reviewed #FacelessAssessment, assessment orders passed in 2,09,235 cases. There was no physical interface between ITD & taxpayers.

Outreach programmes augmented for taxpayer rights & obligations. (2/2)

Announcement-  In order to impart greater efficiency, transparency and accountability to the assessment process, a new faceless assessment scheme has already been introduced.”

Progress so Far:

• As of 28th December 2021, peer-reviewed assessment orders in 2,09,235 cases have been passed through team-based decision making. These cases were completed with no physical interface between the Income Tax Department and the Taxpayers.
• In order to improve compliance, outreach programs are being augmented to make the taxpayers aware of their rights and obligatiol under faceless assessment scheme.

9. Affordable Rental Housing 

To promote the supply of Affordable Rental Housing for migrant workers, 100% tax exemption will be available for notified Affordable Rental Housing Projects.

Announcement- We are committed to promote supply of Affordable Rental Housing for migrant workers. For this, I propose to allow tax exemption for notified Affordable Rental Housing Projects.

Progress so Far:

• To promote the supply of Affordable Rental Housing for migrant workers, 100% tax exemption will be available for notified Affordable Rental Housing Projects.

10. housing for All 

To keep up the supply of affordable houses, tax holiday for affordable housing projects extended for projects approved till 31.03.2022. Additional deduction of Rs. 1.5 lakh available for purchase of a house extended till 31.03.2022.

Announcement-  This Government sees ‘Housing for All’ and affordable housing as priority areas. In the July 2019 Budget, I provided an additional deduction of interest,amounting to Rs.1.5 Lakh, for loan taken to purchase an affordable house. I propose to extend the eligibility of this deduction by one more year, to 31st march 2022. The additional deduction of Rs. 1.5 Lakh shall therefore be available for loans taken up till 31st march 2022, for the purchase of an affordable house. 

Progress so Far:

• To keep up the supply of affordable houses, tax holiday for affordable housing projects has been extended for projects approved till 31st March, 2022 by Finance Act, 2021.
• Additional deduction of Rs.1.5 lakh available for purchase of a house extended till 31st March, 2022.

11. Boosting Investment in infrastructure

To ensure that various Sovereign Wealth Funds (SWFs) & Pension Funds (PFs) invest in India, Finance Act 2021 relaxed some of the conditions relating to prohibition on private funding, restriction on commercial activities & direct investment in infrastructure.

“In the last budget, for attracting foreign investment in the infrastructure sector, we had granted 100% tax exemption, subject to certain conditions, to foreign Sovereign Wealth Funds and Pension Funds, on their income from investment in Indian infrastructure. We have noticed that few of such Funds are facing difficulties in meeting some of these conditions. In order to ensure that a large number of Funds invest in India, I propose to relax some of these conditions relating to prohibition on private funding, restriction on commercial activities, and direct investment in infrastructure.”

• To incentivise the investment by the foreign Sovereign Wealth Funds (SWFs) and Pension Funds (PFs) in the infrastructure sector, the Government through Finance Act, 2021 has relaxed some of the conditions relating to prohibition on private funding, restriction on commercial activities and direct investment in infrastructure.
• 9 SWFs & 14 PFs have been notified to claim exemption, since January 2021.

12. International Financial Services Centre (IFSC)

Tax incentives & exemptions for relocating foreign funds into #IFSC to make it a hub for financial services in world. Tax exemption provided for investment division of foreign banks located in IFSC, aircraft lease rentals paid to foreign lessor etc.

Announcement –  As I mentioned in Part A of this speech, the Government is committed to make the International Financial Services Centre (IFSC) in GIFT City a global financial hub. In addition to the tax incentives already provided, I propose to include, among others, tax holiday for capital gains for aircraft leasing compa­nies, tax exemption for aircraft lease rentals paid to foreign lessors; tax incentive for relocating foreign funds in the IFSC; and to allow tax exemption to the investment division of foreign banks located in IFSC.”

Progress so Far:

• The Finance Act, 2021 has provided further tax incentives and exemptions for relocating foreign funds into International Financial Services Centre (IFSC) to make it a hub for financial services in the world.
• Tax exemption is provided for investment division of foreign banks located in IFSC; aircraft lease rentals paid to foreign lessor etc.

13. Measures undertaken to Promote Digital Transactions

Through Finance Act, 2021 monetary threshold for getting books of account audited raised to Rs 10cr, if total turnover/gross receipts made in cash doesn’t exceed 5% of total turnover/gross receipts & total expenditure in cash doesn’t exceed 5% of total expenses.

Announcement- Currently, if your turnover exceeds Rs 1 crore, you have to get your accounts audited. In the February 2020 Budget, I had increased the limit for tax audit to Rs.5 crore for those who carry out 95% of their transactions digitally. To further incentivize digital transactions and reduce compliance burden, I propose to increase this limit for tax audit for such person From Rs. 5 crore to Rs. 10 crore.

Progress so Far:

To promote digital transactions, the monetary threshold for getting books of accounts audited raised to Rs. 10 crore, if total turnover/gross receipts made in cash does not exceed 5% of total turnover/gross receipts and the total expenditure including purchases made in cash does not exceed 5% of total expenses of the business.

14. Retrospective Part of 2012 Amendment Nullified

Big reform by Govt. to reduce litigation, attract investment & bring certainty in tax policy. #RetrospectiveAmendment made by Finance Act, 2012 w.r.t taxation of indirect transfer of assets located in India nullified by Taxation Laws (Amendment) Act 2021.

Taxation Laws (Amendment) Act, 2021

The retrospective part of the amendment made by Finance Act, 2012 regarding taxation of indirect transfer of assets located in India has been nullified by the Taxation Laws (Amendment) Act, 2021. No tax demand to be raised in future on the basis of the retrospective amendment.

Progress so Far:

• Will instill foreign as well as domestic investors with confidence in the Indian Economy.
• Will spur companies which are at the cusp of deciding their investments into investing in India.
• Will avoid unnecessary litigation and save time and costs of the government.
• Will boost the policy of the government to have a predictable tax regime.
• Will provide impetus to country’s goal of becoming a $5 trillion economy.

15. Relief to small Trusts

To increase Ease Of Compliance of small charitable trusts running educational institutions & hospitals, tax exemption relief to such trusts is provided by the Finance Act, 2021 by raising existing threshold of annual receipts from Rs 1 crore to Rs 5 crore.

Announcement- 

“We hope to reduce compliance burden on small charitable trusts running educational institutions and hospitals. So far, there is a blanket exemption to such entities, whose annual receipt does not exceed Rs. 1 crore. I now propose to increase this amount to Rs.5 crore.”

Progress so Far:

To reduce compliance burden on small charitable trusts running educational institutions and hospitals, relief by way of tax exemption to such trusts has been provided by the Finance Act, 2021 by increasing the existing threshold of annual receipts from Rs. 1 crore to Rs.5 crore.

16. Boosting India’s Health Sector

The health sector received a big boost with the budget outlay as the Government plans to release additional resources for public health sector enabling it to get ready for the future.

Announcement- Many of our cities have various research institutions, universities, and colleges supported by the Government of India. Hyderabad for example, has about 40 such major institutions. In 9 such cities, we will create formal umbrella structures so that these institutions can have better synergy, while also retaining their internal autonomy. A Glue Grant will be set aside for this purpose.

Progress so Far:

• Foundation stones of 4 District Medical College & Central Institute of Petrochemicals Engineering & Technology(CIPET) Jaipur in Rajasthan laid on 30 September 2021.
• 4 medical colleges will serve the districts of Sirohi. Hanumangarh. Banswara and Dausa.
• 9 new medical colleges inaugurated in UP including 8 of the CSS scheme adding 900 medical seats.
• Expansion of AIIMS network from 6 to 22 with medical colleges in aspirational districts and upgradation of super-speciality hospitals.
• Out of 157 new approved medical colleges since 2014, 70 have become functional.
• 39 colleges being set up in Aspirational Districts.
• Addition of nearly 16,000 undergraduate medical seats.
• 7,400 seats created with functioning of 70 new medical colleges.
• Rs. 2,451.1 crore for upgradation of existing medical colleges.

17. PM Ayushman Bharat Health Infrastructure Mission

PM Ayushman Bharat Health Infrastructure Mission (PMABHIM) was announced as a long-term health infrastructure development scheme, to help strengthen the country’s health infrastructure and the ability to fight & contain disease outbreaks in the future.

Announcement- A new centrally sponsored scheme, Pradhan Mantri AatmaNirbhar Swasth Bharat Yojana*, will be launched with an outlay of about Rs.64,180 crores over 6 years. This will develop capacities of primary, secondary, and tertiary care Health Systems, strengthen existing national institutions, and create new institutions, to cater to detection and cure of new and emerging diseases. This will be in addition to the National Health Mission.

Progress so Far:

• Largest Pan-India Health Infrastructure Scheme with outlay of Rs.64,180 Crore launched on 25th Oct 2021.
• Ensuring Universal & Comprehensive Primary Care.
• To provide support for 17,788 new rural & 11,024 new urban Health and Wellness centers.
• Scheme will establish critical care hospital blocks in 602 districts with population more than 5 lakh & referral linkages for the rest 128 districts.
• Setting up of 2 container based mobile hospitals..
• 80 existing Viral Diagnostics & Research labs to be strengthened.
• 4 New Regional National Institutes for Virology and a new National Institution for “One Health” to be operationalized.
• Building comprehensive surveillance system with more than 4000 labs.
• Digitisation of analytics, forecasting & early warning systems through the Integrated Health Information Platform (IHIP).
• 37,000 new critical care beds with ICU & Oxygen.
• Health units at 50 International Points of Entry: 32 Airports, 11 Seaports & 7 land crossings.

18. Taxpayers’ Charter

The Taxpayers’ Charter while assuring fair, courteous and rational behavior to the taxpayer on one hand also demonstrates our commitment to improve taxpayer services.

The Taxpayers’ Charter was adopted by the CBDT as per the provisions of Section 119A of Income-tax Act, 1961. It reaffirms our commitment for providing a transparent and taxpayer friendly regime. It helps forge trust between the taxpayer and the Department.

Announcement-  It is proposed to enshrine in the statutes a “taxpayer charter” through this budget and reassure taxpayers that Govt. is committed to taking such measures that citizens are free from harassment of any kind.”

Progress so Far:

The Income Tax Department is commiitted to –

• Provide fair, courteous, and reasonable treatment
• Treat taxpayer as honest
• Provide mechanism for appeal and review
• Provide complete and accurate information
• Provide timely decisions
• Collect the correct amount of tax
• Respect privacy of taxpayer
• Maintain confidentiality
• Hold its authorities accountable
• Enable representative of choice
• Provide mechanism to lodge complaint
• Provide a fair and just system
• Publish service standards and report periodically
• Reduce cost of compliance
• The Taxpayers’ Charter has been adopted by the CBDT as per the provisions of section 119A of the Income Tax Act, 1961.
• With its adoption, India joins other major economies in the world which too have adopted and published Charters as a gesture of their commitment towards their taxpayers.

19. Pradhan Mantri Krishi Sinchayee Yojana (PMKSY)

Pradhan Mantri Krishi Sinchayee Yojana (#PMKSY) enhanced irrigation potential encouraging farmers to invest more in farming technology and leading increased productivity and farm income.

Announcement- “The ‘Pradhan Mantri Krishi Sinchai Yojana’ has been strengthened and will be Implemented in mission mode.28.5 lakh hectare will be brought under Irrigation under this Scheme.”

Progress so Far:

• Irrigation potential of 24.39 lakh hectare has been created through the completed projects.
• Under PMKSY-AIBP, 99 projects having ultimate potential of 76.03 lakh hectare prioritizedfor completion.
• Against the balance ultimate potential of 34.63 lakh hectare, 21.45 lakh hectare achieved till March 2020.
• The balance projects out of 99 are proposed to be included underthe extension of the scheme for 2021-26.
• On 15th December 2021, Cabinet approves implementation of Pradhan Mantri Krishi Sinchayee Yojana for 2021-26.

√ Outlay of Rs.93,068 crore, including !37,454 crore central assistance to States.

√  Benefit to about 22 lakh farmers.

• 60 on going projects for completion under Accelerated Irrigation Benefit Programme (AIBP).
• Under Har Kher Ko Pani, 4.5 lakh hectare Irrigation through surface minor irrigation& rejuvenation of water bodies, and 1.52 lakh hectare groundwater irrigation in suitable block.

20. Kisan Rail

India Railways flags off Kisan Rail to transport fresh fruits and vegetables from farmers to markets across India.

Announcement- To build a seamless  national cold supply chain and set up a `Kisan Rail’ through PPP

Progress so Far:

• First Kisan Rail from Devlali to Danapur was flagged off on 7th August 2020.
• Till 17th December 2021. a total of 1,765 trips of Kisan Rail have been operated on 152 routes. Nearly 5.8 lakh Tonnes of consignments have been transported.
• Kisan Rail help transport the produce of farmers to different parts of the country at a subsidised cost.
• Kisan Rail is a step towards doubling Framers’ income.
• Milk is also being transported by Railways. Till 30th November (FY21-22), 3905 Rail Milk Tankers moved by Railway, transporting more than 1.600 lakh litres

21. Increased credit flows for Agriculture sector

A landmark initiative to boost agriculture sector with substantial investments through increased credit flow.

Announcement- To provide adequate credit to our farmers, have enhanced the agricultural credit target to p16.5 lakh crore in FY22. We will focus on ensuring increased credit flows to animal husbandry, dairy, and fisheries.

Progress so Far:

• Region wise, agency wise and purpose-wise targets along with sub-target for animal husbandry and fisheries sectors have been finalised and communicated to all stakeholders on 16.02.2021.
• As on 31.10.21, Rs. 8,64,372.69 crore has been disbursed to agriculture sector. (Source: NABARD)

22. Operation Greens Scheme

Launched in Nov. 2018, Operation Greens Scheme was extended in June 2020 from Tomato, Onion and Potato (TOP) to all fruits & vegetables (TOTAL) for short term measures for a period of 6 months on pilot basis as part of #AatmanirbharBharat Abhiyan & further extended till 31.03.21.

Announcement-  To boost value addition in agriculture and allied products and their exports, the scope of Operation Greens Scheme that is presently applicable to tomatoes, onions, and potatoes (TOP crops), will be enlarged to include 22 perishable products.

Progress so Far:

• EFC recommendations in March 2021 for expanded Scheme as a part of restructured Pradhan Mantri Krishi Sinchayee Yojana (PMSKY) for 15th Finance Commission cycle
• 22 perishable crops identified which include 10 fruits, 11 vegetables (including TOP crops) and 1 marine i.e., Shrimp.
• Production Clusters for 22 perishables identified and validated by respective States.
• Infrastructure Gap Assessment Studies for 10 fruits and shrimp awarded on 21.05.2021 hav been completed.
• Cabinet Note for expanded Scheme submitted in May 2021 for which approval i awaited and expanded Scheme will be implemented after approval.

23.  National Agriculture Market (e-NAM)

The National Agriculture Market (e-NAM) is expanding to ease farmers. The pan-India trading portal is helping realize the vision of “One Nation, One Market” for agri-produce

Announcement- Keeping in view the transparency and competitiveness that e-NAM has brought into the agricultural market, 1,000 more mandis will be integrated with e- NAM.

Progress so Far:

• 1,000 mandis have been integrated with e-NAM.
• The pan-India trading portal is to help realize the vision of “One Nation, One Market” for agri-produce.
• Around 1.72 crore farmers registered, and f1.63 Iakh crore of trade value carried out through e-NAM.

24. Agriculture infrastructure Fund (AIF) for Agriculture produce Market Committees (APMCs)

In July 2020, AIF was announced to provide a medium-long term debt financial facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.

Announcement- The Agriculture Infrastructure Fund would be made available to APMCs for augmenting their infrastructure facilities.

Progress so Far:

• AIF boost agriculture infrastructure relating to Post-harvest Management (PHM) and community farming assets.
• Scheme provides interest subvention and credit guarantee for setting PHM projects for better post harvest management and reduction in wastage.
• Rs. 1 Lakh crore is to be disbursed by landing institutions as loans to eligible beneficiaries.
• Financial assistance amounting to Rs. 16,205 crore for 8,658 beneficiaries sanctioned across the country.

25. Minimum Support Prices (MSP)

The Government is committed to safeguard the welfare of the farmers with the increase in MSP value, no. of procurement centers and payment to farmers.

Announcement-  Our Government is Committed to the welfare of farmers. The MSP regime has undergone a see change to assure price that is at least 1.5 times of the cost of production for allmandated crops. The Procurement has also continued to increase at a steady pace. This has resulted in increase in payment to farmers substantially.

Progress so Far:

• The increase in the MSP approved by the Cabinet on 8th September 2021 for all mandated Rabi crops for Rabi Marketing Season (RMS) 2022-23, well in advance of the sowing season.
• Number of procurement centers increased as compared to previous years to facilitate the farmers for selling their produce at the nearest procurement centre maintaining COVID protocols.
• Ensured MSP at minimum 1.5 times of the cost of production for all the mandated Kharif and Rabi crops.

26. Ayushman Bharat Digital Mission

As a health repository for all healthcare providers across the country & ensure ease of living for patients & healthcare service providers, Hon’ble PM @narendramodi launched Ayushman Bharat Digital Mission on 27.09.21, that will change the landscape of Indian Health System.

Progress so Far:

• Launched on 27th September 2021 by hon’ble Prime Minister of India Shri Narendra Modi.
• Aims to create a seamless online platform that enables inter-operability with.
• Building registries at appropriate level to create single source of truth in respect of clinical establishments, healthcare professionals, health workers, drugs and pharmacies etc.
• All citizens get a unique  Health ID that helps them to digitally and safely store, access and share their health records.

Date Source : https://abdm.gov.in

27. Jan Aushadhi Kendra Scheme

Pradhan Mantri Bhartiya Jan Aushadhi Kendras made available essential medicines and other items at affordable prices across the country. As on 15th December 2021, 8,588 PMBJKs opened, covering all the districts in the country.

Announcement- To expand Jan Aushadhi Kendra Scheme to all districts offering 2000 medicines and 300 surgicals by 2024.

Progress so Far:

• Pradhan Mantri Bhartiya Jan­Aushadhi Kendras (PMBJKs). BPPI and other stakeholders joined hands to make available the essential medicines and other items at affordable prices.
• As on 31.12.2021, 8,640 Pradhan Mantri Bhartiya Janaushadhi Kendras (PMBJKs) have been opened covering all the districts in the country.
• 1,451 medicines and 240 surgicals & consumables available in the basket of PMBJP for sale through these PMBJKs.

28. Pneumococcal Conjugate Vaccine (PCV)

Nationwide expansion of Pneumococcal Conjugate Vaccine (PCV) was completed on 29th October 2021 under the Universal Immunization Programme (UIP). It is expected to reduce children’s morbidity and mortality due to pneumococcal pneumonia.

Announcement-  The Pneumococcal Vaccine, a Made in India product, is presently limited to only 5 states will be  rolled out across the country. This will avert more than 50,000 child deaths annually

Progress so Far: 

• PCV has been expanded to all States/UTs across the country.
• Till September 2021, a total of 6.05 crore doses of PCV have been administered across the country since introduction.
• In all States/UTs, capacity building of medical officers, health workers and programme managers done on PCV introduction.
• IEC materials (banners, posters, leaflets, standees, videos, etc.) shared with all States/UTs.

29.  National COVID19 Vaccination Programme

India’s National #COVID19 #VaccinationProgramme is built on scientific & epidemiological evidence. @WHO guidelines & global best practices were implemented through effective & efficient participation of States/UTs & people at large to fight the pandemic.

Announcement- The Government has provided Rs. 35,000 crore for Covid-19 vaccine in BE 2021- 22 and is committed to provide further funds if required.

Progress so Far: 

• More than 151.94 crore doses of COVID-19 vaccine have been administered across the country (as on 1091 January 2022).
• Around 91.8% of adult population have received at least one dose of COVID-19 vaccine while more than 67.5% of the adult population have been fully vaccinated.
• Over 2.38 crore in 15-17 age group vaccinated.
• India has set the record of administering 2.5 crore doses of COVID-19 vaccines in a single day.

30. Expansion of scope for Krishi UDAN in convergence with Operation Green – Production Linked Incentive (PLI) Scheme

Krishi Udaan Scheme stands converged with Operation Greens. It aims to open new avenues of growth for the agriculture sector & help attain farmers’ double income by removing barriers in supply chain, logistics & transportation of farm produce.

Announcement- For a USD 5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral pan of global supply chains, possess core competence and cutting-edge technology. To achieve all of the above, PLI schemes to create manufacturing global champions for an Aatma Nirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly Rs.1.97 lakh crores, over 5 years staving FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress so Far: 

• Krishi UDAN aims to improve value realisation through better integration & optimisation of Agri-harvesting, air transportation, and contributing to Agri-value chain sustainability.
• The Scheme proposes to facilitate and incentivise movement of Agri- proudce by air transportation.
• Strengthening cargo related infrastructure at airports and off airports.
• The 1st phase of the Krishi UDAN 2.0 Scheme implemented across 53 airports with focus on the Northeast, Hilly and tribal regions..
• Development of E-KUSHAL (Krishi UDAN for Sustainable Holistic Agri-Logistics) to facilitate information dissemination to all stakeholders^–Proposal to integrate E-KUSHAL with National Agriculture Market (e-NAM)

31. Production Linked Incentive (PLI) Scheme

Government approved PLI Scheme for Textiles Sector boosts domestic manufacturing & exports in large scale.

Announcement- For a USD 5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral part of global supply chains, possess core competence and cutting-edge technology. To achieve all of the above, PLI Schemes to create manufacturing global champions for an Aatma Nirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly Rs.1.97 lakh crore, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress so Far: 

• Scheme approved on 8th Oct 2021, for Textiles for man-made fibre (MMF)Apparel, MMF Fabrics and 10 segments/ products of Technical Textiles, with a budgetary outlay of 010,683 crore.
• Textiles along with RoSCTL, RoDTEP and other measures of Government in sector e.g., providing raw material at competitive prices, skill development etc. will herald a new age in textiles manufacturing.
• Will help create additional employment of over 7.5 lakh people directly and several lakhs more for supporting activities.
• Fresh investment of above Rs. 19,000 crore and additional production turnover of over Rs. 3 lakh crore in 5 years expected through the scheme.
• Higher priority for investment in Aspirational Districts & Cities of Group B & C.
• Scheme will help Indian companies to emerge Global Champions.
• Scheme guidelines have been issued on 28s December 2021.

32. National Programme on High Efficiency Solar PV Modules

The National Programme on High Efficiency Solar PV Modules will reduce import dependence in a strategic sector like electricity and support the

Announcement- For a USD 5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral pan of global supply chains, possess core competence and cutting-edge technology. To achieve all of the above, PO Schemes to create manufacturing global champions for an Aattna Nirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly Rs.1.97 lakh crore, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress so Far: 

• Production Linked Incentive (PLI) Scheme approved by cabinet for high efficiency solar PV modules.
• Scheme outlay of Rs. 4500 crore.
• Direct employment of around 30,000 and indirect employment of 1,20,000.
• Additiona110,000 MW capacity of integrated solar PV manufacturing plants.

33. Production-linked Incentive (PLI) Scheme for Specialty Steel

PLI Scheme gives a boost to high grade Specialty Steel with increased capacity, employment generation, and minimizing dependence on imports.

Announcement- For a USD 5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral part of global supply chains, possess core competence and cutting-edge technology. To achieve all of the above, PO schemes to create manufacturing global champions for an Aattna Nirbhar Bharat have been announced for13 sectors. For this, the government has committed nearly Rs,1.97 lakh crore, over5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress so Far: 

• Approved by the cabinet on 22nd July 2021.
• Scheme to boost production of high- grade specialty steel in the country.
• Incentives worth Rs. 6,322 crores to be provided over 5 years for manufacturing of these products in India.
• Scheme to attract an additional investment of about Rs. 40,000 core.
• The scheme will give employment to about 5,25,000 people of which 68,000 will be direct employment.
• Capacity addition of 25 MT.
• Invitation for Application from Investors under the Production Linked Incentive (PLI) Scheme for Specialty Steel has started.

34. Production linked Incentive Scheme (PLI) for Food Processing Industry

Cabinet approved the “Production Linked Incentive (PLI) Scheme” for Food Processing Industry, to support creation of global food manufacturing champions and support Indian brands of food products in International markets.

Announcement- For a USD 5 trillion economy our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral part of global supply chains, possess core competence and cutting- edge technology. To achieve all of the above, PLI schemes to create manufacturing global champions for an Aatma Nirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly Rs.1.97 lakh crore, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress so Far: 

• Approved by the Cabinet on 31st March 2021, with an outlay of Rs. 10,900 crore
• To be implemented over a period of 6 years.
• Since inception, the Ministry has finalised the guidelines of the Scheme, appointed the Programme Management Agency for the Scheme and invited applications for assistance under the Scheme through EOI.
• Last dates for submission of applications was 24th june, 2021.
• Ministry received a total of 274 applications received against various categories under the Scheme, 60 applications approved under category-1

35. Production Linked Incentive (PLI) Scheme for Promotion of Domestic Manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates & Active Pharmaceutical Ingredients (APIs)

Production Linked Incentive (PLI) Scheme introduced to boost domestic critical Key Starting Materials (KSMs)/Active Pharmaceutical Ingredients (API) production for enhancing India’s manufacturing capabilities and enhancing exports.

Announcement- PL/ schemes to create manufacturing global champions for an Aatma Nirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly 11.97 lakh crore, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress So Far:

• Union Cabinet approved proposal on 20.03.2020 with the objective to attain self-reliance & reduce import dependence in critical KSMs/DIs/APIs.
• Boost domestic manufacturing of identified KSMS, DIs & APIs by attracting large investments in the sector & reduce  import dependence in critical APIs.
• Tenure of the sub-scheme is from FY 2020-21 to FY 2029-30, with the total outlay of Rs.6,940 crore. Lit
• Financial incentive under the sub-scheme will be provided on sales of 41 identified products categorized into 4 Target Segments.

√ Total financial outlay of the scheme is Rs.6,940 crore.

√ Approval accorded to 50 applicants/projects

√ Committed investment of Rs.4498.38 crore.

√ Investment made by Sept. 2021, Rs. 721.02 crore.

√ 3 Projects Commissioned till date.

36. Production Linked Incentive (PLI) Scheme for Promoting Domestic Manufacturing of Medical Devices

Production Linked Incentive (PLI) Scheme for Promoting Domestic Manufacturing of Medical Devices targets to make the country self-reliant in the specified target segments in the medical devices sector.

Announcement- (PLI) Scheme to create Manufacturing global champions for an Aatma Nirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly Rs.197 lakh core, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.”

Progress So Far: 

• Promoting Domestic Manufacturing of Medical Devices with total financial outlay of Rs.3,420 crore for the period FY 2020-21 to 2027-28.
• Applications are under 4 different target segments including “Cancer care/Radiotherapy Medical Devices”,”Radiology & Imaging Medical Devices (both ionizing & non-ionizing radiation products) and Nuclear Imaging Devices”,”Anaesthetics & Cardio-Respiratory Medical Devices including catheters of Cardio-Respiratory Category & Renal care Medical Devices” and All Implants including Implantable Electronic Devices”.
• 21 Applications approved.
• Committed investment of Rs. 1058.97 crore.
• Investment made till date: Rs. 167.27 crore.

37.  Production Linked Incentive Scheme for pharmaceutical

Production Linked Incentive (PLI) Scheme for pharmaceuticals is part of the government’s flagship Aatma Nirbhar Bharat plan aimed at enhancing India’s manufacturing capabilities and exports.

Announcement- PLI schemes to create manufacturing global champions for an AatmaNirbhar Bharat have been announced for 13 sectors, For this, the government has committed nearly Rs.1.97 lakh crore, over 5 years starting FY 2021-22, This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress So Far: 

• Approved by the Union Cabinet on 24 February 2021, with a total outlay of 15,000 crore.
• To benefit domestic manufacturers, create employment & contribute to the availability of affordable medicines for consumers.
• Objective of the Scheme is to enhance India’s manufacturing capabilities by increasing investment & production in the sector and contributing to product diversification to high value goods in the pharmaceutical sector.
• In total 278 applications have been received and 55 applicants approved, including 20 MSMEs and 5IVD projects.
• Total Committed investments is Rs. 17,581.96 crore.

38. Scheme for Promotion of Manufacturing  of Electronic Components and Semiconductors (SPECS)

The Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) aims to strengthen the manufacturing ecosystem for electronic components and semiconductors.

Announcement- launching scheme focused on encouraging Manufacturing of Electronic Components and Semi-conductors.

Progress So Far: 

• Scheme provides financial incentive of 25% on capital expenditure for the identified list of electronic goods that comprise downstream value chain of electronic products.
• Scheme was notified on 01st April, 2020 and is open to receive applications till 31st March,2023.
• New investment in electronics Sector envisaged to the tune of Rs. 20,000 crore.
• The Total employment generation potential of the Scheme is 6,00,000 (both Direct & Indirect).
• 24 applications have been received and acknowledged and 11 applications are under finalization stage, 2 applications have been approved.

39. Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing

The PLI Scheme for Large Scale Electronics Manufacturing is a financial incentive boost for domestic manufacturing and attract large investments in the electronics value chain.

Announcement- Launching a scheme focused on encouraging manufacture of mobile phones, electronic components and semi- conductor packaging.

Progress So Far: 

• Scheme proposes to provide production linked incentive of 4% – 6% on incremental sales.
• Scheme was notified on 01.04.2020.
• Total expenditure outlay of the Scheme is 040,995 crore in 5 years.
• 16 Companies approved under the first round of the Scheme.

The projected outcome over the next 5 years:

√ Investment Around Rs.11,000 crore

√ Production: Rs. 10.5 lakh crore

√ Exports: Rs. 6.5 lakh crore

√ Employment Over 2 lakh direct jobs

• On 28.06.2021, FM announced extension of the Scheme till 2025-26.

40. Production Linked Incentive (PLI) Scheme for Promoting Telecom and Networking Products Manufacturing

Transforming India’s Telecom sector with the Production Linked Incentive (PLI) Scheme for Telecom and Networking Products attracting large scale investments and reducing India’s dependence on other countries for the import of telecom and networking products.

Announcement- For a USD 5 trillions economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral part of global supply chains, possess core competence and cutting-edge technology. To achieve all of the above, PLI Schemes to create manufacturing global champions for an Aatma Nirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly Rs.1.97 lakh crore, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress so far

• Launched by the Department of Telecommunications (DOT) with total outlay of 012,195 crore.
• boost domestic manufacturing in the telecom and networking products by incentivizing incremental investment and turnover.
• 31 companies comprising 16 MSMEs and 15 Non-MSMEs (8 Domestic and 7 Global companies), approved under the Scheme.
• Expected Incremental production of around 1.82 lakh troy a in 5 years.
• Expected boost to local R&D.
• Investment of around Rs.3,345 crore envisaged in the sector over 4 years creating additional employment of more than 40,000 people.

41. Production-Linked Incentive (PLI) Scheme for Drones and Drone Components

Production Linked Incentive (PLI) Scheme for drones and drone components, yet another Scheme which will enhance India’s manufacturing capabilities while creating significant employment & growth opportunities.

Announcement- For a USD 5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral part of global supply chains, possess core competence and cutting-edge technology. To achieve all o the above, PLI schemes to create manufacturing global champions for an Aatma Nirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly Rs.1.97 lakh crores, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress so far

• Approved by the cabinet on 15th September 2021.
• Incentives of Rs.120 crore to be given in next 3 years under PLI Scheme for drones and drone components.
• PLI claimed by manufactures is set at 20% of the value addition, remaining constant for 3 years.
• PLI for a beneficiary is capped at 25% of the total annual outlay, widening the number of beneficiaries.
• Drone Manufacturing industry may grow to over Rs.900 crore in FY 2023-24.
• India has the potential of becoming a global drone hub by 2030.

42. Production Linked Incentive scheme – National Programme on Advanced Chemistry Cell Battery Storage

Together, these Schemes will enable India to leapfrog from traditional fossil fuel based automobile transportation system to environmentally cleaner, sustainable, advanced and more efficient Electric Vehicles (EV) based system. (2/2)

Announcement- For a USD 5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral pan of global supply chains, possess core competence and cutting-edge technology. To achieve all of the above, PLI schemes to create manufacturing global champions for an Aanna Nirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly Rs.1.97 lakh crore, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress so far

• Scheme implementation approved on 12 May 2021, with an outlay of Rs.18,100 crore
• To achieve manufacturing capacity of Fifty (50) Giga Watt Hour (GWh) of ACC and 5 GWh of “Niche” Advanced Chemistry Cell (ACC).
• Major battery consuming sectors expected to achieve robust growth in the coming years.
• Direct investment of around Rs.45000 crore in ACC Battery storage manufacturing projects.
• Net savings of Rs.2,00,000 crore to Rs.2,50,000 crore on account of oil import bill reduction due to EV adoption
• Import substitution of around Rs.20,000 crore every year.

43. Production Linked Incentive (PLI) Scheme for we Automobile Industry

A total of 115 companies have filed their application under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India which was notified on 23.09.2021.

Announcement- For a USD 5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral pan of global supply chains, possess core competence and cutting-edge technology. To achieve all of the above, PLI schemes to create manufacturing global champions foran Aatma Nirbhar Bharat have been announcedfor13 sectors. For this, the government has committed nearly: 1.97 lakh crore, o ver5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress so far

• Approved on 15th Sep 2021, with a budgetary outlay of Rs.25,938 crore.
• To enhance India’s manufacturing capabilities.
• Encourages the industry to manufacture Advanced Automotive Technology Products.
• Big boost to production of electric and Hydrogen Fuel Cell vehicles.
• Additional employment opportunities for over 7.6 lakh people.
• Fresh investments of over Rs.42,506 crone in 5 years.
• Incremental production of over Rs.2.3 lakh crore.
• Promotes Swachh Bharat
• 115 companies have filed their applications under the Scheme.

44. Production Linked Incentive (PLI) Scheme for Mobile Manufacturing and Specified Electronic Components

PLI Scheme for Mobile Manufacturing & Specified Electronic Components is tremendously boosting the electronics manufacturing landscape and establishing India at the global level in electronics sector. (2/3)

Announcement- For a USD 5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral pan of global supply chains, possess core competence and cutting-edge technology. To achieve all of the above, PLI schemes to create manufacturing global champions for an Aatma Nirbhar Bha rat have been announced for 13 sectors. For this, the government has committed nearly Rs.1.971akh crore, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress so Far: 

• The proposal for accepting applications under Second Round of the Scheme approved by the Competent Authority.
• The target segment for the purpose of this round are Specified Electronic Components.
• Incentives of 4% to 6% shall be extended on incremental sales (over base year i.e., 2019-20) of goods manufactured in India and covered under the target segment, to eligible companies, for a period of 4 years.
• Second Round of PLI Scheme applicable from 01.04.2021.

PLI Scheme makes India now the 2nd largest mobile manufacture.

• Shift from import to export-led growth
• New investments & increased tax revenues
• Production of mobile devices & components worth over 1111 trillion
• 60% of the total production will be exported
• +12 lakh jobs will be created
• Domestic value addition for mobile phones from 15­-20% to 35-40%

PLI Impact

India is now world’s 2nd largest mobile manufacturer

• 200 Manufacturing units in 2021 (from 2 units in 2014)
• Production of mobile handsets reached 30 Crore (2021) from 6 Crore (2014)
• Mobile handsets produced worth reached 2,20,000 crore (2020-21) from 19,000 crore (2014-15)
• MEE Export of as mobile phones from India grew by a massive 250 per cent in April-June 2021-22.

45. Production Linked Incentive (PLI) Scheme for IT Hardware Products

PLI Scheme for IT Hardware Products would promote higher domestic value addition in electronics manufacturing and will contribute significantly to achieving a $1 trillion digital economy and a $5 trillion gross domestic product (GDP) by 2025.

Announcement- For a USD 5 trillion economy, our  manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral pan of global supply chains, possess core competence and cutting-edge technology. To achieve all of the above, PLI schemes to create manufacturing global champions for an AatmaNirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly Rs.1.97 lakh crore, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.”

Progress So Far: 

• Approved by the cabinet on 24. Feb 2021, with an outlay of Rs.7,350 Crore to be provided over 4 years for manufacturing these products in India.
• To provide impetus to domestic manufacturing & attract large investments in the value chain of IT
• Production worth Rs.3.26 Lakh Crore and exports worth Rs.2.4.5 Lakh Crore estimated in 4 years.
• Additional investments of Rs. 2,700 Crore
• Will create 1.80 Lakh jobs in 4 years.
• Eligible companies to be incentivized 4% to 1% on net incremental sales of goods manufactured in India.

46. Production Linked Incentive (PLI)  Scheme for White Goods (Air Conditioners and LED Lights)

PLI Scheme for White Goods approved by the Cabinet in April 2021, is designed to create a complete component ecosystem in India and make India an integral part of the global supply chains.

Announcement- Fora USD 5 trillion economy, our manufacturing sector must grow in double digits on a sustained basis. Our manufacturing companies need to become an integral pan of global supply chains, possess core competence and cutting-edge technology. To achieve all the above, PLI schemes have been announced r or 13 sectors to create manufacturing global champions foran AatmaNirbharBha rat. The government committed nearly 11.97 lakh crore, over 5 years starting FY21- 22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.

Progress So Far: 

• Approved by the cabinet on 7 April 2021, with a total outlay of Rs.6238 Crore.
• 42 Companies Selected under the Scheme.
• 26 Companies to invest Rs. 3, 98 crore for Air Conditioner Components.
• 16 Companies to invest Rs.716 crore for LED Component Manufacturing.
• Investments of around Rs. 4,614 crore envisaged creating additional direct employment of about 44 thousand persons.
• Expected net incremental production of more than 81 thousand crore.

47.  National Infrastructure Pipeline

Driving economic growth through #NationalInfrastructurePipeline #NIP by building resilient & sustainable #infrastructure, creating thrust on monetisation of assets and enhancing #CapitalExpenditure. (1/2)

Announcement- To improve physical quality of life through National Infrastructure Pipeline (NIP).

Progress So Far: 

• NIP was launched on 29th April 2020 with 6,835 projects, the project pipeline has now expanded to more than 9,000 projects.
• NIP is a part of the Government of India’s initiative to provide world class infrastructure to its citizens and enhance ease of living.
• Around 643 projects worth Rs 4.2 lakh crore have been completed till 15th December 2021.
• Around 14% projects are Under Conceptualisation, 27% Under Development and 52% Under Implementation.
• Under NIP, Ministries/ Departments have spent around Rs 7.3 lakh crore in FY 19-20 and Rs 9.8 lakh crore in FY 20-21, which is almost 34% increase from FY 19-20.
• Till 02 of FY 21-22, Ministries/ Departments have spent around Rs 4.1 lakh crore and is targeting to spend Rs 12.95 lakh crore during FY 21-22.

48. National Investment and Infrastructure Fund

National Investment and Infrastructure Fund #NIIF is India’s 1st #infrastructure #investment fund /sovereign wealth fund set up by the Government of India to maximise #economicimpact through #infrastructure #investment in commercially viable projects. (2/2)

Announcement- I intend to establish a National Investment and Infrastructure Fund (NIIF) and find monies to ensure an annual flow of Rs 20,000 crore to it. This will enable the Trust to raise debt, and in turn, invest as equity, in infrastructure finance companies such as the /RFC and NHB. The infrastructure finance companies can then leverage this extra equity, many fold.”

Progress So Far: 

• NIIF now has over $43 billion in assets under management through its funds, Master Fund, Fund of Funds (‘FOE’) and Strategic Opportunities Fund (‘SOF’)
• In 2021, NIIF has increased its headcount by ’15 employees’ With over 90 employees currently, the Fund is one of the largest home-grown funds in the private equity landscape’
• NIIF is continuing to work closely with Gol and some of the pension funds in respect of the implementation of tax benefits offered to Sovereign Wealth Funds and Pension Funds for their investments in infrastructure in the country
• NIIF is one of the first PE firms that has been Great Place to work certified.

49. National Monetisation Pipeline (NMP)

National Monetisation Pipeline (NMP) is aimed at tapping private sector #investment in brownfield assets through innovative mechanisms for new #infrastructure creation enabling high economic growth and overall public welfare.

Announcement- “Monetizing  operating public infrastructure assets is a very important financing option for new infrastructure construction. A “National  Monetization pipeline” of potential brownfield infrastructure assets will be launched, An Asset Monetization dashboard will also be created for tracking the progress,and to provide visibility to investors,”

Progress So Far: 

• National Monetisation Pipeline for assets of Central ministries finalized.
• Report of  NMP (Volume I & II comprising guideboolk and asset pipeline) released by Horrible Finance Minister on 23 August 2021.
• NMP estimates aggregate monetisation potential of Rs. 6 Lakh Crore  through core assets of central government over 4-year period, from FY’22 to FY’25.
• Sectors covered include roads, ports, airports, railways, warehousing, power transmission and generation, gas and product pipelines, mining, telecom, stadium,hospitality and housing.
• Several transactions identified under Budget have already been completed, notable ones being InvIT of PoweirGrid and NHAI; Structuring & approvals for other transactions is currently underway.
• Empowered group of secretaries on Asset Monetisation has been constituted for overall monitoring.
• For State Government assets, collation  of pipeline is underway; Nodal officers appointed in States & UTs.

50. Asset Monetisation

The government on 23 Aug’21 launched the National Monetisation Pipeline, with the vision of giving access to high-quality and affordable infrastructure to the citizens of India. NMP is aimed at tapping private sector investment for new infrastructure creation. (1/3)

Announcement- Next lot of Airports to be monetized for operations and management concession.

Other core infrastructure assets to be rolled out under the Asset Monetization Programme: AAI Airports in Tier II and Ill cities.

Progress So Far: 

• Asset Monetisation through PPP model.
• Proposed monetisation of the next lot of airports for operations and management concession.
• Other core infrastructure assets will be rolled out are AAI Airports in Tier II and III cities.
• Six airports already awarded to the successful bidder and the concession agreements signed.
• Will help the Ministry of Civil Aviation to complete the goal of building 100 new airports by 2024.

51. Disinvestment and Strategic 

A number of transactions are due for completion in FY 2021-22, as the government aims at making use of disinvestment proceeds to finance various programmes that will provide a clear roadmap for disinvestment in all non-strategic and strategic sectors. (2/3)

Announcement– In spite of COVID-19, we have kept working towards strategic disinvestment A number of transactions namely Air India, Pawan Hans, among others would be completed in 2021-22

Progress So Far: 

• Government has lived up to its announcement regarding disinvestment of Air India (Al). Share purchase agreement for sale of Al signed on 25.10.21.
• Preliminary Information Memorandum (PIM) for the sale of Pawan Hans has been issued.
• PIM for Air India Airports Services (Ground handling) is under preparation.

52. Air India (AI) Disinvestment

The disinvestment of Air India and its subsidiaries was concluded on 8 Oct’21. M/s Talace Ltd won the bid for Air India. (3/3)

Announcement– Inspite of COVID- 19, we have kept working towards strategic disinvestment. A number of transactions namely  Air India, Pawan Hans, among others would be completed in 2021-22

Progress So Far:

• Tata Sons’ SPV – Ltd — wins the bid for Air India.
• The winning bid for Rs 18,000 crore as Enterprise Value (EV) consideration for Al.
• Non-core assets including land and building, valued at Rs 14,718 crore, to be transferred to Gol’s Air India Asset Holding Limited (AIAHL).
• The entire disinvestment process carried out in a transparent manner, with due regard to confidentiality of the bidders, through multi-layered decision making.
• Transaction expected to be completed by January 2022.
• Letter of intent issued, and Share Purchase agreement signed with Tata Sons on 25.10.21.

53. Asset Monetization

Asset Monetization involves creation of new sources of revenue by unlocking of value of hitherto unutilized or underutilized public assets. Major initiatives undertaken by Department of Investment and Public Asset Management (DIPAM) in 2021. (1/4)

Announcement–  “Idle assets will not contribute to AtmaNirbhar Bharat. The non-core assets largely consist of surplus land with government  Ministries/Departments and Public Sector Enterprises. Monetizing of land can either be by way of direct sale or concession or by similar means. This requires special abilities and for this purpose, I propose to use a Special Purpose Vehicle in the form of a company that would carry out this activity”.

Progress So Far: 

• Framework for constituting an SPV has been prepared in consultation with World Bank.
• A Task Force comprising of officials from DEA, MoHUA, Law Ministry, NITI Aayog, NIIF, State govt of Odisha, Maharashtra and Karnataka has been created to advise DIPAM.
• First consultative meeting of the Task Force on SPV was held in April 2021 and the suggestions were incorporated in the SPA/ framework.
• Recommendations of the Committee on Establishment Expenditure (CEE) obtained.
• Cabinet note sent to Cabinet Secretariat and PMO.
• After cabinet approval, the process of SPV formation will begin.

54.  Listing of LIC 

The Listing of LIC is being brought in through requisite amendments. (2/4)

Announcement– In 2021-22, we would bring the LIC WO.

Progress So Far:  

• Amendments in the LIC Act approved through Finance Act, 2021
• CCEA on 08.07.2021 has approved IPO off LIC
• Milliman Advisors appointed for Actuarial Valuation
• LIC has procured new Actuarial Software System
• BRLMs, Legal Adviser, Registrar, Advertising Agency and 4 sponsor bankers (provisionally) appointed.
• M/s Batliboi and purohit appointed as statutory Auditor for LIC IPO
• IEV valuation work being done by LIC and valuation adviors (Ernst and Young)
• Early Investor Roadshow were held.
• DRHP to be filed soon with SEBI.

55.  New Public Sector Enterprise (PSE) policy

New PSE policy is designed to discover true economic potential of entities in the hands of private investors. (3/4)

“In the AatmaNirbhar Package, I had announced that we will come out with a policy of strategic disinvesunent of public sector enterprises, l am happy to inform the House that the Government has approved the said policy. The policy provides a clear roadmap for disinvestment in all non- strategic and strategic sectors. We have kept four areas that are strategic where bare minimum CPSEs will be maintained and rest privatized, In the remaining sectors all CPSEs will be privatized, The main highlights of the policy are mentioned at Annexure-III.

Progress So Far:  

• New PSE Policy notified on 4th February 2021.
• Public sector commercial enterprises have been classified as Strategic and Non-Strategic Sectors.
• Strategic sectors delineated based on the criteria of national security, energy security, critical infrastructure, provision of financial services & availability of important minerals. The 4 broad strategic sectors have been proposed as under:

√ Atomic Energy, Space and Defence;

√ Transport and Telecommunication;

√ Power, Petroleum, Coal and other minerals;

√ Banking, Insurance and Financial Services

• In Strategic sectors, presence of the existing public sector commercial enterprises at Holding Company level will be retained under Government control. The remaining enterprise in a strategic sector will be considered for privatisation /merger/ subsidiarisation with another PSE or for closure_ In non-strategic sectors, PSEs shall be considered for privatisation (where feasible) or closure.

56. Strategic Disinvestment

Strategic disinvestments of central public sector enterprise (CPSE) undertaken in FY21-22. (4/4)

Announcement- In spite of COVID-19. we have kept working towards strategic disinvestment. A number of transactions namely Air India, the Shipping Corporation of India, BEML Ltd., Pa wan Hans Ltd., Neelachal Ispat Nigam limited among others would be completed in 2021-22.

BEML Ltd

• Multiple EoIs received.
• Due diligence ongoing by qualified bidden
• Financial bid expected in January 2022

Pawan Hans

• Multiple Eels received.
• Due diligence ongoing by qualified bidders
• Financial bid expected in December 2o21.

Shipping Corporation of India

• Multiple Eels received.
• Due diligence ongoing by qualified bidders
• Financial bids expected in January 2022

NINL

• Multiple Expression of Interests (EoIs) received
• Due diligence by bidders is ongoing
• Financial bids expected in December 2021.

Air India

• Tata Sons’ SPV- Talace Pvt Ltd wins bid
• Letter of Intent issued, and Share Purchase Agreement signed with Tata Sons

57. Public private partnership for Major Ports

• 7 projects worth more than Rs 2,000 cr to be offered by major Indian ports on Public private partnership in the FY2021-22.
• ports will move from managing their operational services on their own to a model where a private partner will manage it for them.

Announcement- Major Ports will be moving from  managing their operational services on their own to a model where a private partner will manage it for them. For the purpose, 7 projects worth more than Rs 2,000 crore will be offered by the Major Ports on Public Private Partnership mode in FY 21-22

Progress So Far:  

• 4 Projects worth Rs 1.899 crore sanctioned by the Government.
• 2 project already completed.
• Process in respect of 9 projects including project of Rs 1,601 crow at Deendayal Port, Jawaharlal Nehru Port and VA/ Chidambaranar Port is in progress.
• Tendering for 2 projects of Rs 763 crore at V.O. Chidambaranar Port and Jawaharlal Nehru Port scheduled in January 2022.

58. Recycling of Ships Act-2019

• Recycling of Ships Act validated by the President on 17.12.19
• It aims to provide for the regulation of recycling of ships by setting certain standards & laying down statutory mechanism for enforcement of such standards.
• Rules notified on 26.02.2021.

Announcement- India has enacted Recycling of Ships Act, 2019 and acceded to the Hong Kong International Convention. Around 90 ship recycling yards at Alang in Gujarat have already achieved HKC- compliant certificates. Efforts will be made to bring more ships to India from Europe and Japan. Recycling capacity of around 4.5 Million Light Displacement Tonne (LDT) will be doubled by 2024. This is expected to generate an additional 1.5 lakh jobs for our youth.”

Progress So Far:

• To boost India’s ship recycling capacity.
• Around 95 Ship recycling yards at Alang in Gujarat have achieved HKC-Compliant Certification.
• India to welcome more ships from Europe and Japan.
• Recycling capacity of around 4.5 Million LDT will be doubled by 2024.
• Additional 1.5 lakh jobs to be generated.

59. Boost to Flagging of Merchant Ships

Centre approved the scheme for flagging of merchant ships in India on 14.07.21, by providing subsidy support to Indian shipping companies in global tenders floated by Ministries & CPSEs, with Rs.1624 cr outlay spread over 5 yrs, to achieve #AatmanirbharBharat

Announcement- A scheme to promote flagging of merchant ships in India will be launched by providing subsidy support to Indian shipping companies in global tenders floated by Ministries and CPSEs. An amount of Rs. 1624 crore will be provided over 5 years. This initiative will enable greater training and 14 employment opportunities for Indian seafarers besides enhancing Indian companies share in global shipping.

Progress So Far:

• Help in –

√ Increasing India’s Fleet.

√ Create more Employment for Seafarers.

√ Generate indirect employment from ancillary business such as, shipbuilding, ship repair, recruitment, banking, etc. and contribute to the Indian GDP.

60. Mega Integrated Textile Region and Apparel (PM MITRA …) Parks

Union Cabinet approves 4,445 crore PM MITRA Scheme to set up of 7 mega integrated #Textile Parks in a period of 5 years.

Announcement- To position India strongly on the global textile market, attract large investments and boost employment generation, a scheme of PM Mega Investment Textiles and Apparel Parks (PMMITRA) has been launched in addition to the PLI Scheme. This will create world class infrastructure with plug and play facilities to enable create global champions in exports. 7 PMMITRA Parks will be established over 7 years.”

Progress So Far:

• Union Cabinet approved the proposal of the Ministry of Textiles for setting up of 7 PMMIT Parks on 6 October 2021 with total outlay of Rs 4,445 crore in a period of 5 years.
• Inspired by the 5F vision – Farm to Fibre to Factory to Fashion to Foreign.
• World class infrastructure to attract Investments.
• Intended to generate 7 lakh direct& 14 lakh indirect employment
• The PM MITRA parks will have:

√ Core Infrastructure : Incubation Centre & Plug & Play facility, Developed Factory Sites, Roads, Power, Water and Waste-Water system, Common Processing House & CETP and other related facilities.

√ Support Infrastructure : Workers’ hostels & housing, logistics park, warehousing, med” training & skill development facilities.

61. Scheme for Development of Solar parks and Ultra Mega Solar Power Projects 

India set to construct Ultra Mega Solar Power Projects in Rajasthan, Gujarat, Tamil Nadu, and Ladakh. The Scheme facilitates installation of grid connected solar power projects for electricity generation on a large scale.

Announcement-  New and  Renewable energy deserves a very high priority. It is proposed to take up Ultra Mega Solar Power Projects in Rajasthan, Gujarat, Tamil Nadu, and Ladakh in J&K. Sum of Rs.500 crores set aside for this.

Progress So Far:

• The Scheme for “Development of Solar Parks and Ultra Mega Solar Power Projects” was rolled out on 12.12.2014.
• Under this Scheme, it was proposed to set up at least 25 Solar Parks and Ultra Mega Solar Power Projects targeting over 20,000 MW of solar power installed capacity within a span of 5 years starting from FY 2014-15.
• The capacity of the Scheme has been enhanced from 20,000 MW to 40,000 MW.
• Ultra Mega Solar Power Projects taken up in all these State except Ladakh.
• Cumulative capacities of Solar Power Projects are 5389 MW in Rajasthan; 3918 MW in Gujarat and 4315 MW in Tamil Nadu.
• Government has planned to establish 10,000 MWSolariWind hybrid projects in Ladakh for which various actions have been initiated.

62. National Hydrogen Energy Mission

The National Hydrogen Mission will give us a quantum leap in meeting our energy demand and move towards energy independence.

Announcement-   I propose to launch hydrogen energy mission to generate hydrogen from green power sources.

Progress So Far: 

• MNRE developed the Draft Mission document.
• Proposal includes:

√ Demand creation through mandates for refineries, fertilizers & city gas distribution;

√ Green Hydrogen based fertilizers to substitute imports;

√ PLI for manufacture of electrolyzers;

√ R&D and support activities;

✓ Projects also proposed for green steel, hydrogen-based mobility, shipping, energy storage, etc.

• Rs 4500 Crore for generating hydrogen from Green Power.
• Develop India into a global hub for manufacturing of hydrogen & fuel cell technologies.
• MoU signed between NTPC and UT of Ladakh & LAHDC to setup the country’s first Green Hydrogen Mobility Project

63. Railways Station Solar Power

India Railways is set to meeting its energy needs with solar powered Railways Stations.

Announcement-  To feed about 7,000 stations with solar power in the medium term. Works will be taken up for 2,000 railway stations as part of 1000 MW solar mission.

Progress So Far: 

Solar Rooftop Capacity: 

• As on 31.10.2021, 121.47 Mega Watt (MW) solar rooftop capacity has been installed at 1094 Railway stations including major stations like Varanasi, Katra, New Delhi, Old Delhi, Jaipur, Secunderabad, Kolkata, Guwahati, Howrah etc.
• Solar Plants will be provided progressively at balance station&

Land Based solar system: 

• 3 MW already set up at MCF/Raebarelli.
• 2 Pilot projects assigned to BHEL and REMCL at Bina (1.7 MW, WCR) and Diwana (2 MW, NR), successfully commissioned.
• 400 MW tied up from Rewa Ultra Mega Solar (RUMS), a JV of SECI and MP Government
• 50 MW plant being set up at Railway land at Bhilai.

64. 100% Rail Electrification

• India aims to be the world’s first 100% green railway with net zero emission by 2030.
• Environment friendly Railway Electrification in the country has increased nearly ten times since 2014.

Announcement-  Broad Gauge  Route Kilometers (RKM) electrified is expected to reach 46,000 RKM i.e., 72% by end of 2021 from 41,548 RKM on 1st Oct 2020. 100% electrification of Broad-Gauge routes will be Completed by December 2023.

Progress So Far: 

• Indian Railways is marching towards Mission 100% Electrification by 2023.
• Logged highest-ever route electrification despite unforeseen challenges of pandemic.
• 6,015  Route Kilometer (RKM) electrification in FY 2020-21 surpassing previous highest of 5,276 RKM in FY 2018-19.
• Out of Broad-Gauge network of 64,689 RKM, 45,881 RKM (71%) electrified till March 31, 2021.
• 34% of total rail electrification completed in last 3 years.

65. National Rail Plan

• National Rail Plan to create a ‘future ready’ Railway system by 2030.
• Aimed to formulate strategies based on both operational capacities and commercial policy initiatives to increase modal share of the Railways in freight.

Announcement- Indian Railways have prepared a National Rail Plan for India- 2030. The Plan is to create a `future ready’ Railway system by 2030.

Progress So Far: 

• Draft final report of National Rail Plan issued by Indian Railways.
• National Rail Plan is being developed to plan infrastructural capacity enhancement along with strategies to increase modal share of Railways.
• All constraining factors related to speed, capacity, and network have to be removed in a planned manner through a dedicated action plan under National Rail Plan 2030.
• India’s first ISO certified, and first PPP model-based railway station has been dedicated to the country in the form of Rani Kamalapati Railway Station in Bhopal.
• More than 200 railway stations are being rejuvenated.

66. Dedicated Freight Corridor Projects (EDFC & WDFC)

√ Dedicated Freight Corridors have been a game changer in Economic Development.

√ Consistent emphasis is on development of freight terminals along the Corridor to boost business operations for all stakeholders.

Announcement- Bringing down the logistic costs for our industry is at the core of our strategy to enable `Make in India’. It is expected that Western Dedicated Freight Corridor (DFC) and Eastern DFC will be commissioned by June 2022.

Progress So Far :

Project in brief: 

a) Total length of Eastern & Western DFC- 2843 km (except Sonnagar-Dankuni section) (Eastern —1337 km, Western — 1506 kin)

b) Total Estimated Cost — Rs.95,238 crore (Rs.21,846 Land + Rs.73,392 Hard & Soft Cost)

c) Cumulative CAPEX (up to 30.092021) — Rs.79,663 crore (Rs.17,849 core Land + Rs.61,814 crore Contracts & Others)

d) Financial progress (Works) – 78%

e) Funding (Eastern corridor):

✓ Ludhiana-DDU (1200 km) – World Bank funding of Rs 12,453 crore (US$ 1.775 billion)

✓ DDU-Sonnagar (137 km) – Indian Railway funding of Rs 3679 crore

✓ Dankuni-Sonnagar (538 km) through PPP (Rs 15,926 crore)

✓ 351 km of EDFC between Khurja and Bhaupur & an operational control center have been inaugurated.

f) Funding (Western corridor):

✓ Dadri-JNPT (1506 km) (Phase I & II) with JICA

67. Dedicated Freight Corridor Projects (EDFC)

Announcement- Bringing down the logistic costs for our industry is at the core of our strategy to enable ‘Make in India’. It is expected that Western Dedicated Freight Corridor (DFC) and Eastern DFC will be commissioned by June 2022.

Progress So Far : 

Trains run (Oct 2021)

Corridor	No. of Trains run		GTKM (Millions)		Average speed (kmph)
	October	Cumulative	October	Cumulative
EDFC	961	7832	949	7270	62
WDFC	1053	5005	953	3825	38
Total	2014	12837	1902	11095	–

A. Track linking :

 ✓ During 2021-22 : 437 Km

✓ Cumulative Progress: 3758 Km

B. OHE wiring: 

✓ During 2021-22 : 24-6 Km

✓ Cumulative Progress:2906

C. Km Other major items:

✓ Major Bridges: 327 completed out of 540. (60%)

✓ RUBs : 1146 completed outof 1586.(12%)

✓ ROBs : 110 completed out of 304. (36%)

68. Major Expressways/ Corridors

Massive development of Major Expressways / Corridors is underway, shifting Indian transport network from the conventional mode of widening the existing highways.

Announcement- Some of the flagship corridors and other important projects that would see considerable activity in 2021-22.

Progress So Far

• Delhi-Mumbai Expressway:

a. Out of the total length of 1,380 km, 1,254 km length awarded for construction, out of which 936 km is under construction & 390 km completed

b. Remaining length of 127 km awarded by November 2021

c. Rs.48,405 crore for Delhi – Vadodara section

d. Rs.49,967 crore for Vadodara – Mumbai section

e. Total Capital Cost Rs.98,372 crore

• Bengaluru – Chennai Expressway:

a. Total Capital Cost Rs 16,730 crore

b. 262 km awarded in the month of September’21

c. The construction targeted to be completed by FY24-25

69. Major Expressways/ Corridors

Announcement- Some of the flagship corridors and other important projects that would see considerable activity in 2021-22.

Progress So Far:

• Delhi-Dehradun economic corridor.

a. Total Capital Cost Rs 17,146 crone.

b. Out of the 329 km complete length, 142 km awarded for construction.

c. Remaining length expected to be awarded in FY 2021-22 with the project aimed for completion in FY 2024-25.

• Raipur-Vishakhapatnam Corridor:

a. Total Capital Cost Rs.96,950 crore.

b. Out of total corridor length of 464 km, project awarded for 313 km.

c. Remaining length targeted to be awarded by FY 2021-22 and targeted to be awarded by 2024-25.

70. Economic Corridors

The upcoming Economic Corridors with integrated transport system are also designed to stimulate economic development.

Announcement– To further augmentroad infrastructure, more economic corridors are also being planned.

National Highway works of around Rs 19,000 crore are currently in progress in the State of Assam. Further works of more than Rs 34,000 crore covering more than 1300 km of National Highways will be undertaken in the State in the coming three years.

3,500 km of National Highway works in the state of Tamil Nadu at an investment of Rs 1.03 lakh crore. These include Madurai- Kollatn corridor, Chittoor- Thatchurcorridor. Construction will start next year.

Progress So Far: 

• Assam Corridor

a. National Highway (NH) works of 8 km with a total capital cost of Rs. 143 Crore Completed.

b. NH works of 735 km with a total capital cost of Rs. 21,508 crore. ongoing.

c. 4-Laning of Nurnaligarh- Dibrugarh: Packages of length 183 Km worth Rs. 4,017 crore awarded, and 102 Km of construction completed.

• Madurai-Kollam Corridor and Chittoor-Thatchur Corridor, Tamil Nadu:

a. NH works of 2,161 Km with a total capital cost of Rs.45,214 crore ongoing

b. NH works of 125 Km with a total capital cost of Rs. 2,054 crore completed

Announcement- To further augment road infrastructure, more economic corridors are also being planned.

”1,100 km of National Highway works in the State of Kerala at an investment of Rs.65,000 crore including 600 km section of Mumbai-Kanyakumari corridor in Kerala.”

”675 km of highway works in the stare of West Bengal at a cost of Rs.25,000 crore including upgradation of existing road-Kolkata – Siliguri.”

Progress So Far : 

• Mumbai-Kanyakumari Corridor, Kerala:

a. National Highway (NH) works of 594 km with a total capital cost of Rs,43,014 crore ongoing.

b. Overall length 316 km awarded. Additionally, 231 km awarded by October, 2021

• Kolkata-Siliguri Corridor, West Bengal

a. National Highway storks of 1,194 km with a total capital cost of Rs.28599 crore ongoing.

b. 279 km of road constructed before Bharatamala Pariyojana

c. 128 km under construction and target for is completion is Feb’23

71. Bharatmala Pariyojana 

Bharatmala Pariyojana enhances connectivity by optimizing efficiency of freight and passenger movement across the country by bridging critical infrastructure gaps.

Announcement- More than 13,000 km length of roads, at a cost of Rs 3.3 lakh crore, has already been awarded under the Rs 5.35 lakh crore Bharatmala Pariyojana project of which 3,800 km have been constructed. By March 2022, we would be awarding another 8,500 km and complete an additional 11,000 km of national highway corridors.

Progress So Far: 

• 545 road projects comprising 19,105 km length with total capital cost of Rs 5.45 lakh crore awarded of which 6,567 km completed.
• Cumulative target by 2021-22 is 20,500 km for award and 7,700 km for construction.

(Till October 2021)

72. National Monetisation Policy

Under the National Monetisation Pipeline introduced on 23 August 2021, the road assets considered for monetisation during FY 2022 to 2025 aggregate to 26,700 km, which is 19% of the total National Highways.

Announcement-  Monetising operating public infrastructure assets is a very important financing option for new infrastructure construction. A  National Monetization Pipeline” of potential brown field infrastructure assets will be launched. An Asset Monetisation dashboard will also be created for tracking the progress and to provide visibility to investors.”

Progress So Far: 

• Launched by NHAI through Toll Operate and Transfer (TOT) model.
• 20 stretches (1407 km) monetised through TOT mode in four Bundles:

1. TOT Bundle 1

2. Bundle 3

3. Bundle 5A1 and

4. Bundle 5A2

• Rs. 14,692 crore realised and remitted to Consolidated Fund of India (CFI).
• In addition, Rs 2,262 crore likely to be realized in the 3rd quarter of FY 2021-22.

73. Strengthening of National Company Law Tribunal (NCLT) Framework 

NCLT is on a fast track with stronger framework and e-courts. Government introduces alternate methods of debt resolution and special framework for MSMEs.

Announcement- To ensure faster resolution of cases, NCLT framework will be strengthened, e-Courts system shall be implemented and alternate methods of debt resolution and special framework for MSMEs shall be introduced.

Progress So Far: 

• Government has Strengthened NCLT framework with the appointment of 18 new Members (8 Judicial & 10 Technical);
• E-filing has started in all e-court Benches.
• Remaining modules of e-courts project are underway.
• Insolvency and Bankruptcy Code (Amendment)Act, 2021 has been approved on 11_08_2021 thereby providing a speedier, cost effective, semi-formal and less disruptive framework for insolvency resolution of corporate debtors in distress.
• The Insolvency and Bankruptcy (PPIRP) Rules, 2021 and (PPIRP) Regulations, 2021 are in force from 09.04.2021.
• Minimum amount of default for initiation of PPIRP kept at Rs 10 lakh.

74.  One person Company (OPC)

Incorporation of OPCs is being incentivised in order to bring in more unincorporated businesses into the organised corporate sector.

Announcement- As a further measure which directly benefits Start-ups and Innovators, I propose to incentivize the incorporation
of One Person Companies (OPCs) by allowing OPCs to grow without any restrictions on paid up capital and turnover, allowing their conversion into any other type of company at any time, reducing the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days and also allow Non- Resident Indians (NRIs) to incorporate OPCs in India.

Progress So Far: 

• MCA has incentivized the incorporation of One Person Companies (OPCs) vide notification dated 01_02.2021 through the Companies (Incorporation) Second Amendment Rules, 2021.
• Now OPCs can be converted into a private or public company, other than company registered under section 8, at any time without any restrictions.
• NRIs are now allowed to incorporate an OPC.
• The residency period for being considered as a resident in India has been reduced to 120 days from 182 days for NRIs.
• OPC can now grow & expand without any restrictions on paid up capital and turnover.

75.  Small Company Under Companies Act

Small Company Redefined under Companies Act, 2013 allowing more companies under the ‘small’ category and benefit them in terms of the compliance requirements.

Announcement-  I propose to revise the definition under the Companies Act, 2013 for Small Companies by increasing their threshold for Paid up capital from “not exceeding Rs 50 Lakh” to “not exceeding Rs 2 Crore” and turnover from “not exceeding Rs 2
Crore” to “not exceeding Rs 20 Crore”. This will benefit more than 2 lakh companies in easing their compliance requirements.”

Progress So Far: 

• Definition of ‘Small Companies” under the Companies Act, 2013 has been revised by increasing their thresholds for Paid up capital from not exceeding Rs 50 lakh” to “not exceeding Rs 2 crore” and Turnover from not exceeding Rs 2 crore” to not exceeding Rs 20 crore” vide Notification no.92(E) dated 01.02.2021.
• Measure has directly benefited more than 2 lakh companies by reducing compliance requirements under the Companies Act, 2013.

76. Limited Liability partnership (Amendment) Act, 2021

The LLP (Amendment) Act, 2021 facilitates Ease-of-Doing Business and encourage startups across the country with De-Criminalisation of Offences, In-House Adjudication Mechanism and introduction of Small LLPs.

Announcement- The decriminalizing of the procedural and technical compoundable  offences under the Companies Act, 2013, is now complete. I now propose to next take up decriminalization of the Limited Liability Partnership (LLP) Act, 2008.

Progress So Far: 

• The Limited Liability Partnership (Amendment Act, 2021 has been passed by both the Houses of Parliament and notified after the assent of the President of India on 13.08.2021
• The LLP (Amendment) Act, 2021 amended 20 sections, omitted 3 sections and inserted 7 new sections in the LLP Act, 2008.
• Re-categorized 12 compoundable offences under the Act as civil defaults, which will be dealt within the in-house adjudication framework wherein these defaults would be subject to a civil penalty levied by an adjudicating officer.
• De-criminalization of procedural & technical violations has incentivized compliance and reduced burden on NCLT & special courts.
• In tune with the Ease of Doing Business agenda of the Government

77.  Gem Platform

Government e-Marketplace #GeM is a one stop portal to facilitate online procurement of Goods & Services by various Government offices / PSUs. #GeM continues to enhance transparency, efficiency and speed in public procurement.

Announcement-  To bring more transparency and efficiency in Government procurement of goods & services.

The Director General of Supplies and Disposal (DGS & D) will establish a technology driven platform to facilitate procurement of goods & services by various Ministries and agencies of the Government.

Progress So Far: 

• GeM has successfully transformed the public procurement space in India through its technology-driven innovations and other strategic interventions.
• GeM approach is underlined by a commitment to its 3 pillars: transparency, efficiency (with the attendant cost-savings), and inclusiveness.
• The design & development of the GeM platform – its digital features and functionalities, key business processes and the ancillary offline activities such as outreach and training of stakeholders are guided by these 3 pillars.
• In order to promote inclusion, GeM in consultation with the Ministry of MSME & Ministry of Rural Development has taken various initiatives for their onboarding through i.e. STARTUP RUNWAY, SARAS COLLECTION, TRIBESINDIA eSTORE, for boarding of Artisans and Weaves.

√ GeM facilitates “access to markets” for under-served seller groups through its Outlet Stores set-up in collaboration with various Ministries.

√ GeM Sahay App developed in collaboration with iSPI RT, addresses the credit access challenges faced by MSMEs & provides frictionless “access to finance” by leveraging fintech.

√ As on 10 November 2021, 31.10 lakh+ sellers and service providers are registered on GeM of which 7,30,948 are MSEs who have fulfilled 36.12 lakh+ orders worth approx. 56.73% share of Gross Merchandise Value.

√ 1,12,383 women & 31,256 SC/ST MSEs are also registered as MSE entrepreneurs on the portal.

√ GeM has facilitated 80.71 lakh orders worth Rs 156K crore for approx. 55K Government buyers.

78. Development of Puducherry Port under Sagarmala scheme Programme

Hon’ble PM Shri @narendramodi laid the foundation of Puducherry Port Development under Sagarmala scheme on 25 Feb 2021.

Estimated to be built at Rs 44 Cr, it will provide connectivity to Chennai and facilitate cargo movement for industries in the vicinity.

• Puducherry non-major port situated about 140 Km South of Chennai on the East Coast of India.
• Memorandum of Understanding (MoU) was signed between Puducherry Government and Chennai Port Trust in 2017 to develop the Puducherry port as feeder port.
• Port Department, Government of Puducherry is implementing the Project
• Project to be implemented in 3 phases.
• Rs 44 Crore sanctioned, and Rs 18 Crore released to take up part of Phase I development comprising of:

√ Dredging of 7,30,000 cubic meters.

√ Construction of barrier between drainage channel and navigational channel.

79. National Maritime Heritage Complex (NMHC)

The first of its kind in the country, the upcoming ‘National Maritime Heritage Complex’ in Lothal, Gujarat, would showcase the maritime heritage of India from ancient to modern times.

• Dedicated to the legacy of Maritime heritage of India.
• The Museum will demonstrate how India has been shaped by access to and mastery of the Sea.
• Designed by one of India’s most prominent architect Padma Bhushan Shri Hafeez Contractor & his team of able designers.
• To be developed in three phases viz. Phase 1A, Phase 1B and Phase 2.
• Tender has been floated for the Phase 1A development of the project
• Phase 1A expected to be ready and open to visitors by early 2024.

80. 8-Laning of Korampallam Bridge and Rail Over Bridge

8-laning of Korampallam Bridge & Rail Over Bridge dedicated by Hon’ble PM Shri @ narendramodi under ‘Sagarmala programme’ on 25.02.21. It will facilitate seamless & congestion free transit to & from V.O. Chidambaranar Port & further reduce turnaround time of the cargo trucks.

• 8-laning of Korampallam Bridge and Rail Over Bridge dedicated to the Nation on 25th February 2021.
• The Project taken up at a cost of Rs 42 crones as an initiative under ‘Sagarmala Programme’.
• Further steps to be taken to make V.O. Chidambaranar port as a Transshipment Hub in East Coast of India.
• The existing Korampallam bridge and Rail over bridge widened to 8.5 meters for a length of 277 meters, and the existing road leading to the bridge to 10.30 meters for a length of 1.57 Km.
• 8-laning of the port approach road facilitates seamless entry & exit for time sensitive cargo, trucks, laden containers bound for destinations across the globe.
• Project to foster movement of containers for quicker delivery of containers to the importers, providing a fillip to the ‘Aatma Nirbhar Bharat’ initiative of the Government of India.

81. Public Private Partnership for Major Ports

7 projects worth more than Rs 2,000 cr to be offered by major Indian ports on Public private partnership in the FY2021-22. ports will move from managing their operational services on their own to a model where a private partner will manage it for them.

Announcement-Major Ports will be moving from managing their operational services on their own to a model where a private partner will manage it for them. For the purpose, 7 projects worth more than Rs 2,000 crore will be offered by the Major Ports on Public Private Partnership mode in FY21-22.

Progress So Far:

• 4 Projects worth Rs 1.899 crore sanctioned by the Government_
• 2 project already completed_
• Process in respect of 9 projects including project of Rs 1,601 crore at Deendayal Port, Jawaharlal Nehru Port and V.O. Chidambaranar Port is in progress_
• Tendering for 2 projects of Rs 763 crore at V. O. Chidambaranar Port and Jawaharlal Nehru Port scheduled in January 2022.

82. BharatNet Programme

The world’s largest rural broadband connectivity programme using Optical fibre, #Bharatnet extended beyond Gram Panchayats enabling better access to various govt. e-services..

Announcement – Rs.6000 crore to BharatNet programme in 2020-21 to link 1 Lakh Gram Panchayats through Fibre to Home (FTTH) connections will be provided.

PROGRESS SO FAR

• BharatNet is implemented in phased manner to provide broadband connectivity to all Gram Panchayats (approx. 2.6 lakh GPs) in the country. Phase-I was completed in December 2017 covering over 1 lakh GPs.
• In 2021 (01.1.2021 to 31.10.2021), a total of 17,232 GPs have been made Service Ready of which 16,344 GPs are on Optical Fiber Cable & 888 GPs are on satellite media.
• As on 01.11.2021. out of the remaining GPs to be connected under BharatNet Phase-II. 1,79,247 GPs are connected by laying 5,52,514 km Optical Fibre Cable (OFC), out of which 1,61,870 GPs are Service Ready.
• In addition. 4218 GPs are connected over satellite media taking the number of total Service Ready GPs to 1,66,088.
• Special efforts made to spread high speed broadband connectivity through Fibre to the Home (FTTH) connections.
• The scope of BharatNet is now extended to reach all villages in accordance with the announcement made by the Hon’ble Prime Minister on 15.08.2020.
• On 30.06.2021. Government accorded approval fora revised strategy for implementation of BharatNet through Public-Private Partnership (PPP) model in 16 States covering 3.61 lakh villages (including 1.37 lakh GPs).

83. Vista Dome LHB Coach

Enhanced passenger experience and safety with Vistadome LHB railway coaches. The coaches are a part of trains which pass through tourist locations where the passengers can indulge in sightseeing.

Announcement – Introduced “introduced aesthetically designed Vista Dome LHB coach on tourist routes to give a
better travel experience.

Progress So Far:

• 20 LHB BG VISTADOME coaches manufactured till date (7 in FY 20-21 & 13 in FY 21-22) by Integral Coach Factory, Chennai.
• LHB BG VISTADOM E coaches are deployed in the following routes:

√ Ahmedabad-Kewadiya : 2 coaches

√ Vishakhapatnam-Kirandul : 3 coaches

√ Mumbai-Pune : 4 coaches

√ Yeshwantpur-Karwar : 6 coaches

√ New Jalpaiguri-Alipurduar : 2 coaches

√ Naharlagun-Guwahati-Badarpur : 2 coaches

√ Naharlagun-Tinsukia : 1 coache

• Vista Dome coach in Deccan Express Special Train introduced from 26t June 2021. connecting Mumbai and Pune.
• Ensuring passenger safety LHB coaches have anti-climbing features which ensures coaches do not climb over each other during collision.
• Unhindered view for passengers to enjoy with large windows and electrically controlled opalescence glass windows in roof

84. Vehicle Scrapping policy: Voluntary Vehicle-Fleet Modernization Programme

The launch of Vehicle Scrappage Policy marked a significant milestone in India’s development journey, which will phase out unfit and polluting vehicles in an environment-friendly manner.

Announcement – We “We are separately announcing a voluntary vehicle scrapping policy, to^. phase out old and unfit vehicles. This will help in encouraging fuel efficient, environment friendly vehicles, thereby reducing vehicular pollution and oil import bill. Vehicles would undergo fitness tests in automated fitness centres after 20 years in case of personal vehicles, and after 15 years in case of commercial vehicles. Details of the scheme will be separately shared by the Ministry

Progress So Far:

• Formulated to phase out the old and unfit vehicles and to replace them with fuel efficient, environment friendly, new generation vehicles.
• Final notification for establishment for Vehicle Scrapping Facility (GSR Notification 653(E)) and Automated Testing Stations (GSR Notification 652(E)) published.
• Vehicle Scrapping and Recycling Facility inaugurated at Noida. It is spread in an area of 11,000 square km with a capacity of handling 24,000 vehicles per year.

85. National Livelihood Mission

The National Rural Livelihood Mission (NRLM) accelerates activities with livelihood opportunities for women SHGs and supporting small businesses in rural areas.

Announcement – Ajeevika, the National Rural Livelihood Mission (NRLM), aims to eliminate rural poverty through sustainable livelihood options. Under this mission, Women SHGs are provided bank loans at 4% on prompt repayment in 150 districts and at 7% in all other districts. I propose to extend the provision of bank loan for women SHGs at 4% in another 100 districts. I also propose to set up a “Start Up Village Entrepreneurship Programme” for encouraging rural youth to take up local entrepreneurship programs. I am providing an initial sum of Rs 100 crore for this.

Progress So Far:

The interest subvention Scheme for women SHGs have been extended to 250 districts (referred as Category-I districts).

Since 2014-15*, in the 250 category-I districts, banks have disbursed cumulative credit of Rs 2.54 Iakh crore to women SHGs.

Since 2014-15*, cumulative interest subvention amount of Rs 6518.66 crore has been disbursed to women SHGs in 250 Category-I districts.

Start-up Village Entrepreneurship Programme (SVEP), the Sub-Scheme under DAY-NRLM for supporting small businesses is being implemented in 232 blocks of 196 districts across 29 States,

1,78,328 enterprises have been supported under the programme and Rs 363.48 crore has been released as central share to the State Governments under the scheme as on 31st October, 2021

86. National Language z Translation Mission

The National Language Translation Mission is aimed to build the next generation govt. apps & websites creating a “voice-based internet” which are accessible in popular Indian languages not limited to Hindi or English.

Announcement – We will undertake a new initiative -National Language Translation Mission (NLTM). This will enable the wealth of governance-and-policy related knowledge on the Internet being made available in major Indian languages.

Progress So Far:

• National Language Translation Mission will enable the wealth of governance and policy-related knowledge on the internet being made available in major Indian languages.
• Further boost our regional languages.
• Building High quality speech to speech machine translation (SSMT) system for major Indian languages.
• Creating and nurturing an ecosystem involving start-ups, Central/State Government institutions working together to develop and deploy innovative products and services in Indian languages.

87. Digital Modes of Payments

Digital Payments is witnessing exponential growth year after year with convenient digital payment modes and digital payment infrastructure enabling seamless digital payments by the citizens, across the country.

Announcement- There has been a manifold increase in digital payments in the recent past. To give a further boost to digital transactions, I earmark Rs 1,500 crore for a proposed scheme that will provide financial  incentive to promote digital modes of payment.

Progress So Far : 

• Recognizing the importance of a cashless economy. creating a digital payment ecosystem has been identified as one of the thrust areas in the Budget announcements for FY 2017-18.
• Setting up of a dedicated Mission, now named as DigiDhan Mission. was announced with a target of 2.500 crore digital payment transactions during the FY 2017-18 through Unified Payment Interface (UPI), Unstructured Supplementary Service Data (USSD), Aadhaar Pay. Immediate Payment Service (IMPS) and Debit cards.
• As a result of coordinated efforts of all stakeholders, the number of digital transactions increased from 1085 crore in FY 2016-17 to 5,554 crore in 2020-21, at a CAGR of 50.42%. It amounted to Rs 3.623 crore as on 31.08.2021.
• In FY 2020-21, the mission was given a target of 5,500 crore digital payment transactions, which has been surpassed i.e. 5.554 crore.

88. Bangalore Metro Rail Project

The Centre approved the Bangalore Metro Rail Project Phase 2A and Phase 2B, a 58.19 km stretch estimated to cost an amount of ₹14,788 crore.

Announcement-   Central counterpart  funding will be provided to Bengaluru Metro Railway Project Phase 2A and 2B of 58.19 km at a cost of Rs 14,788 crore.

Progress So Far : 

√  Union Cabinet has approved the proposal on 20.04.2021.

√ Formal sanction order issued on 7th June 2021.

√ Budget Announcement has been fully implemented.

√ Expected completion of the Project – 5 years after approval by Gol i.e., up to June 2026.

89. Swachh Bharat mission Urban 2.0

SBM (Urban) 2.0 was approved in Oct’21 with an allocation of ₹1,41,678 crore until 2025-26. The 2nd phase focuses on sustaining the sanitation & solid waste management outcomes achieved & accelerating the momentum, thus achieving a Garbage Free Urban India.

Announcement-  For further swachhta of urban India, we intend to focus on complete faecal sludge management and waste-water treatment, source segregation of garbage, reduction in single- use plastic, reduction in air pollution by effectively managing waste from construction-and-demolition  activities and bio- remediation of all legacy dump sites. The Urban Swachh Bharat Mission 2.0 will be implemented with a total financial allocation of Rs 1,41,678 crone over a period of 5 years from 2021- 2026.”

Progress So Far : 

90. Second phases of Swachh Bharat Mission-Urban (SBM-U) 2.0 launched on 01.10.2021.

• INDIVIDUAL HOUSEHOLD TOILET (IHHL)

Constructed : 62,60,606 (106%)

Mission Target: 58,99,637

• COMMUNITY AND PUBLIC TOILET (CT/PT)

Constructed: 6,15,864 (121%)

Mission Target: 5,07,587

• SOLID WASTE MANAGEMENT (SWM)

Waste Generated: 1,32,686 Tonnes Per Day

Waste Processed: 93,137 Tonnes Per Day

100% Door to Door Waste Collection 85,209 No. of Wards

OPEN DEFECATION FREE (ODF)

Total Cities – 4,557

ODF Declared Cities : 4,371 (96%)

ODF Verified Cities : 4,316 (95%)

ULB Certified ODF+ : 3,309 (73%)

ULB Certified ODF++ : 960 (21%)

91. AMRUT 2.0

In October 2021, Cabinet approved AMRUT 2.0 with an indicative outlay of ₹ 2,99,000 crore until 2025-26.

Announcement- The Jal Jeevan Mission (Urban), will be launched. It aims at universal water supply in all 4,800 Urban Local Bodies with 2.86 crore household tap connections, as well as liquid waste management in 500 AMRUT cities. It will be implemented over 5 years, with an outlay of Rs 2,99,000 crore.

Progress So Far : 

√ Second phase of Atal Mission for Rejuvenation and Urban Transformation 2.0 (AMRUT 2.0) launched on 01.10.2021.

√ Cabinet approved (on 12.10.2021) the Atal Mission for Rejuvenation and Urban Transformation — AMRUT 2.0 till 2025-26.

√ Total indicative outlay of Rs 2,99,000 crore.

√ Targets universal coverage of water supply by providing household tap connections in all statutory towns.

√ 100% coverage of household sewerage/ septage management in 500 AMRUT cities.

√ Provide 2.68 crore tap connections and 2.64 crore sewer/ septage connections to achieve the intended outcomes.

92. SVAMITVA

The Centre in keeping villages at the center of all its policies and initiatives launched SVAMITVA on 24 April 2021, as a Central Sector Scheme to promote a socio-economically empowered and self-reliant rural India.

Announcement- 

Under SWAMITVA Scheme, a record of rights is being given to property owners in villages. It was proposed during FY21-22 to extend
this to cover all states/UTs

Progress So Far : 

• Scheme rolled out nationwide on 24 April 2021, after successful implementation in 9 pilot phase states (2020-21).
• Aims to provide the ‘Record of Rights’ to village household owners possessing houses in inhabited areas in villages with issuance of legal ownership rights (Property cards/Title deeds).
• 29 States/UTs onboarded under this Scheme so far.
• Property Cards are prepared for more than 26,470 villages for nearly 31 lakh beneficiaries.
• Drone flying completed in 91,449 villages as on 23 December 2021.
• Saturation of drone flying in 77 districts.
• Establishment of 567 Continuous Operation reference stations across the country under the Scheme.

93. Pradhan Mantri Ujjwala Yojana 2.0

Ujjwala 2.0 continues to grow manifolds with LPG penetration, and making the lives of Indian women healthier.

Announcement – Our government has kept fuel supplies running across the country without interruption during the COVID-19 lockdown period. Taking note of the crucial nature of this sector in people’s lives, the following key initiatives are being announced: Ujjwala Scheme which has benefited 8 crore households will be extended to cover I crore more beneficiaries

Progress So Far:

• Scheme launched on 10th August 2021.
• Along with deposit-free LPG connection, Ujjwala 2.0 provide the first refill & a hotplate free-of-cost to the beneficiaries.
• 8.96 million* domestic cooking gas connection released under Pradhan Mantri Ujjwala Yojana.
• 97.27 lakh* LPG connections have been released under Ujjwala 2.0.
• Import of bulk LPG from Bangladesh to North-Eastern region in India, which will help in catering to the increase in demand of LPG in the region post launch of PM Ujjwala Yojana.

Portal Link: https://wwvv.pmuy.gov.ini

* Data as on 7th January 2022

94. eSHRAM Portal for Wellbeing of Unorganised Workers

e-Shram enrolls over 15 Crore unorganized workers thereby improving implementation efficiency of the social security services and enabling portability of the social security and welfare benefits to the migrant and construction workers.

Announcement – To further extend our efforts towards the unorganised labour force migrant workers particularly, I propose to launch a portal that will collect relevant information on gig, building, and construction- workers among others. This will help formulate Health, Housing, Skill, Insurance, Credit, and food schemes for migrant workers

Progress So Far:

• eSHRAM Portal — a National Database of Unorganized Workers seeded with Aadhaar.
• The eSHRAM Portal launched on 26.08.2021
• First ever National Database of unorganised workers.
• Over 15 crore unorganised workers have been registered on the portal as on 27.12.2021.
• Targets to cover 38 crore workers engaged in unorganised sector including construction workers, migrant workers, Gig and Platform workers, street vendors. domestic workers, agriculture workers and similar other sub­group of Unorganised workers.
• Occupations covers 30 sectors and over 400 occupations based on National Classification of Occupation 2015 (NCO).

95. One Nation One Ration Card (ONORC)

One Nation One Ration Card (ONORC) – a major step towards inclusiveness. facilitates those who work at distant places, especially migrant workers and their families, get ration from any Fair Price Shop (FPS) across the country.

Announcement – I am happy to inform you that One Nation One Ration Card plan is under implementation by 32 states and UTs,
reaching about 69 crores beneficiaries — that’s a total of 86% beneficiaries covered. The remaining 4 states and UTs will be integrated in the next few months.

Progress So Far:

• ONORC seamlessly enabled in 36 States/UTs covering about 78.99 crore beneficiaries.
• 728 districts are covered under ONORC.
• 10.57 crore portability transactionslmonth under ONORC.
• 4.88 lakh ePOS supplied to FPSs as of December 2021.
• Mera Ration’ app launched in March, allowing access to all information about nearest PDS centers.
• Nine States have successfully implemented ONORC System, namely, Andhra Pradesh, Goa, Haryana, Karnataka, Kerala, Telangana, Tripura & Uttar Pradesh.
• Reform linked borrowing permission of Rs 23,523 crore Issued to these States.

96. Borrowing Permission to States

The additional open market borrowing permission issued is equivalent to 0.5% of Gross State Domestic Product (GSDP) enabling the States in pushing their capital expenditure further.

Announcement – In accordance with the views of the 15th Finance Commission, we are allowing a normal ceiling of net borrowing for the states at 4% of GSDP for the year 2021- 2022. A portion of this ceiling will be earmarked to be spent on incremental capital expenditure. Additional borrowing ceiling of 0.5% of GSDP will also be provided subject to conditions. States will be expected to reach a fiscal deficit of 3% of GSDP by 2023-24, as recommended by the 15th Finance Commission

Progress So Far:

• Net borrowing ceiling (NBC) of States for the year 2021-22 was determined as Rs 8,46,922 crore at 4 per cent of GSDP_
• U Out of the NBC of 4 per cent, 0.50 per cent of GSDP linked to incremental capital expenditure_
• Guidelines on additional borrowing of 0_50 per cent of GSDP to States linked to performance in power sector were issued on 09_06_2021_
• LI Borrowing permission for raising Open Market Borrowing (OMB) of Rs 6,00565 crone has been issued to States 1JDM 21.12.2021.

97.  Borrowing linked to Incremental Capital Expenditure by States

Capital expenditure has a high multiplier effect, enhances the future productive capacity of the economy, and results in a higher rate of economic growth.

Announcement – We will also work out specific mechanisms to nudge States to spend more of their budget on creation of infrastructure

Progress So Far:

• Borrowing permission of 50 per cent of GSDP to States has been linked to incremental capital expenditure to be incurred by the States during 2021-22
• The target for incremental capital expenditure for each State to qualify for this incremental borrowing Wan fixed..
• LI The States are required to achieve at least 15% of the target set for 2021-22 in 1st quarter, 45% in 2nd quarter, 70% in 3rd quarter and 100% by end of 31st March 2022_
• Additional borrowing permission of Rs 32,502 crone was issued to States after two rounds of review

98. Scheme for Special Assistance to States for Capital Expenditure

Despite adversative financial scenario, Government of India launched a Scheme for special assistance to states for capital expenditure was launched to sustain state level capital expenditure.

Announcement- We will also work out specific mechanisms to nudge States to spend more of their budget on creation of infrastructure.

Progress So Far

• Scheme for Special Assistance to States for Capital Expenditure started in 2020-21 and continued in 2021-22 with minor changes
• An amount of Rs.11,830.29 crore cut of the approved amount of Rs.11,911.79 crore released to 27 States in 2020-21
• Guidelines of the Scheme for 2021-22 issued to States on 29 April 2021.
• Part-I of the Scheme allocates Rs.2,600 crore for the North-Eastern & Hill States.
• Part-II of the Scheme allocates Rs.7,400 crore for all other States not included in Part-I.
• Part-III of the Scheme allocates Rs.5000 crore for providing incentives to states for monetisation/recycling of infrastructure assets & disinvestment of the State Public Sector Enterprises (SPSEs)
• An amount of Rs.4,200.95 crore out of the approved amount of Rs.7,285.99 crore released to 18 States in 2021-22 till date.

99. National Asset Reconstruction Company Limited (NARCL)

NARCL proposes to acquire stressed assets of about Rs. 2 Lakh Crore in phases within extant regulations of RBI

Announcement- The high level of provisioning by public sector banks of their stressed assets calls for measures to clean up the bank books. An Asset Reconstruction Company Limited and Asset Management Company would be set up to consolidate and take over the existing stressed debt and then manage and dispose of the assets to Alternate Investment Funds and other potential investors for eventual value realization.

Progress So Far

• National Asset Reconstruction Company Limited (NARCL) has been set up by Banks to aggregate and consolidate stressed assets for their subsequent resolution.
• Government has approved guarantee of Rs 30,600 crore for Security Receipts (SRs) to be issued by NARCL for acquiring stressed loan assets.
• Benefits

√ NARCL will assist in consolidation of debt, currently fragmented across various lenders, thus leading to faster, single point decision making.

√ It will incentive quicker action on resolving stressed assets thereby helping in better value realization.

√ It will bring improvement in Bank’s valuation & enhance their ability to raise market capital.

100. Development Financial Institution (DFI)

Development Financial Institution (DFI) is a significant catalyst for infrastructure financing in India.

Announcement- infrastructure needs long term debt financing. A professionally managed Development Financial Institution is necessary to act as a provider, enabler and catalyst for infrastructure financing, Accordingly, I shall introduce a Bill to set up a DFI. I have provided a sum of Rs.20,000 crore to capitalise this institution, The ambition is to have a lending portfolio of at least 5 lakh crore for this DFI in 3 years time.

Progress So Far

• National Bank for Financing Infrastructure and Development Act 2021 has been enacted.
• Government already allocated Rs.20,000 crore in FY 2021-22 during Budget 2021 to capitalize the institution.
• Chairperson has already been appointed.

101. Deposit Insurance & Credit Guarantee Corporation (DICGC) (Amendment) Act, 2021

DICGC Act approved in Aug. 2021, raising of cover from Rs 1 Lakh to Rs 5 Lakh per depositor per bank in Feb 2020, is a major relief is available to small depositors of banks who may be under restrictions / moratorium for prolonged periods.

Announcement- Last year, Government had approved an increase in the Deposit Insurance cover from Rs.1 lakh to Rs.5 lakh for bank customers. I shall be moving amendments to the DICGC Act, 1961 in this Session itself to streamline the provisions, so that if a bank is temporarily unable to fulfil its obligations, the depositors of such a bank can get easy and time-bound access to their deposits to the extent of the deposit insurance cover. This would help depositors of banks that are currently under stress.

Progress So Far

• The DICGC (Amendment)Act,2021 passed by the Parliament on 9 Aug ust2021 & came into force on 1st September 2021.
• Salient Features of the Act —

Provides for guaranteed time bound deposit insurance payment.

Depositors can access their money without wailing for years till liquidation, etc.

Clear-cut timeline of a maximum of 90 days provided for an interim payment to depositors.

Deposit insurance covers all deposits such as savings, fixed, current, recurring deposits etc. in all commercial banks, functioning in India.

Deposits in State, Central & Primary Cooperative Banks, functioning in States/UTs are also covered.

The first tranche of interim payments released by DICGC recently against claims received from depositors of 16 Urban Cooperative Banks which are under restrictions by RBI.

102. Insurance Amendment Act 2021

The Insurance Amendment Act 2021 aims to increase the influx of foreign capital into the Indian private insurers by increasing the FDI limit from 49% to 74% in insurance.

Announcement- I propose to amend the Insurance Act, 1938 to increase the permissible FDI limit from 49% to 74% in Insurance Companies and allow foreign ownership and control with safeguards. Under the new structure, the majority of Directors on the Board and key management persons would be resident Indians, with at least 50% of Directors being Independent Directors, and specified percentage of profits being retained as general reserve.

Progress So Far

• Parliament, on 22.3.2021, passed a Bill to amend the Insurance Act, 1938 to increase FDI limit in Indian Insurance Companies from 49% to 74%. Consequential changes in Foreign Exchange Management (Non-debt instruments), Rules, 2019 have also been notified on 19.08.2021.
• A big boost for:

>Foreign investment

>Enhanced insurance penetration and social protection

> Generation of employment and skills

>Innovation, subject matter expertise and technology transfer

>International best practices

• A step closer to achieving Aatma Nirbhar Bharat

103. Promotion of Smart Metering

Smart meters are empowering Consumers with control on consumption, real time information on consumption and allowing net metering.

Announcement- All the States and Union Territories to replace conventional energy meters by prepaid smart meters in the next 3 years.

Progress So Far : 

• Smart Metering deployment is taken with utmost priority. All the states and Union Territories have been on boarded.
• Revamped Distribution Sector (RDS) Scheme was launched in July 2021 to promote smart metering along with system strengthening of distribution sector.
• All meters to be replaced with Smart/Prepaid meters by March 2025.
• As of 14th January 2022, about 35.68 lakh smart meters deployed across the country through various schemes.

104.  Unnat Jyoti by Affordable LEDs for All (UJALA)

Hon’ble Prime Minister, on 5 January, 2015, launched the Unnat Jyoti by Affordable LEDs for All (UJALA) to provide LED bulbs to domestic consumers driving towards #EnergyEfficiency, reduction in carbon emissions and provide better lighting in homes at a cheaper rate.

Announcement-  For good quality of life and ease of living, maintaining a cleaner environment and ensuring sustainable energy use is vital. A programme of mass scaling up of LED bulbs for widespread distribution at household level was taken up resulting into massive  replacement of incandescent bulbs and CFLs in the country.

Progress So Far : 

UJALA, a zero-subsidy domestic lighting programme for widespread distribution of LED bulbs to replace incandescent bulbs & CFLs in India.

• Over 79 crore LED bulbs distributed across India.
• Replaced 1.24 crore older generation streetlights with LED streetlights.
• Total energy savings of 47,778 million kWh per annum.
• Rs 19,111 crore cost saving per year.
• Production from 1 lakh LED bulbs per month to 4 crore LED bulbs per month.
• 9,565 MW per annum reduction in power demand.
• Gram UJALA launched on 19.03.2021 for Rural area

√ Over 56 lakh units of LEDs distributed in 5 States. LEDs available for Rs 10 in exchange of old bulbs

• (Portal Link: http://ujala.gov.in/)

*Data as on 17.01.2022

105. Deendayal Upadhyaya Gram Jyoti Yojana 

India moving towards energy access to all with Deen Dayal Upadhyaya Gram Jyoti Yojana – a Government of India scheme designed to provide continuous electricity supply to rural India.

Announcement–  Power is a vital input for economic growth and the Government is committed to providing 24×7 uninterrupted power supply to all homes. “Deen Dayal Upadhyaya Gram Jyoti Yojana” for feeder separation will be launched to augment power supply to the rural areas and for strengthening sub- transmission and distribution systems. I propose to set aside a sum of Rs 500 crore for this purpose.

Progress So Far : 

• Providing round the clock power for non-stop growth and development of the country.
• 100% Villages connected to electricity.
• Mission 100% electrification of villages within 1,000 days of announcement was achieved in 987 days.

(Last Updated on 25.01.2022 at 08.25 AM)