In the wake of the COVID-19 lockdown as most of the working sectors in India are facing crunch, so central govt. has decided to revive the economy. This is done by announcement of a Rs. 20 lakh crore economic package for Atmanirbhar Bharat Abhiyan to make India self reliant. In this Aatmanirbhar Bharat Abhiyan package, govt. has announced a number of loan scheme for various sectors. Here we are going to tell you about how to apply online for Atmanirbhar Bharat Loan Schemes 2020.
These loan schemes under the Self Reliant India campaign includes MSME loans, Kisan Credit Card (KCC) loans, Street Vendors loans, Shishu Mudra loans, PM Awas Yojana Credit Linked Subsidy Scheme (PMAY-CLSS) loans etc. Now people can apply for these loan schemes by the Union government of India.
For this, interested applicants will have to fill Atmanirbhar Bharat Loan Schemes application / registration form. The Rs. 20 lakh economic booster dose (1 to 5) package announcement has now been completed on 17th May 2020 by FM Nirmala Sitharaman.https://www.youtube.com/watch?v=xwWeEZRlLRk
Who is Eligible
The ‘Abhiyan is intensely focused towards providing employment, promote local entrepreneurship and create partnership with industrial associations and other organisations to provide employment opportunities’.
Around 50 per cent number of the jobs will be provided under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).
The Centre had announced the Atma Nirbhar Bharat Package to stimulate various sectors. In order to generate employment with a thrust towards creating infrastructure in backward regions of the country, Garib Kalyan Rojgar Abhiyan was launched on June 20, 2020.
Atmanirbhar Bharat Abhiyan economic package
Prime Minister Narendra Modi announced the Atma-nirbhar Bharat Abhiyan (or Self-reliant India Mission) and said that in the days to come his government would unveil the details of an economic package — worth Rs 20 lakh crore or 10% of India’s GDP in 2019-20 — aimed towards achieving this mission.
Is this a new package?
Not entirely. While the PM did not give the details, he did specify that this calculation of Rs 20 lakh crore includes what the government has already announced and the steps taken by the Reserve Bank of India (RBI). This means the total amount of additional money — that is over and above what the government would have spent even in the absence of a Covid crisis — will not be Rs 20 lakh crore. It would be substantially less.
That’s because the PM has included the actions of RBI, India’s central bank, as part of the government’s “fiscal” package, even though only the government controls the fiscal policy and not the RBI (which controls the ‘monetary’ policy). Government expenditure and RBI’s actions are neither the same nor can they be added in this manner. Nowhere in the world is this done, clarifies Prof NR Bhanumurthy of NIPFP.