Transfin.
HomeNewsGuidesReadsPodcastsTRANSFIN. EOD
alt-img

All About Prime Minister Narendra Modi's Atma Nirbhar Bharat COVID-19 Economic Stimulus Package

alt-img
May 20, 2020 11:04 AM 5 min play


In his address to the nation on May 12th 2020, Prime Minister Narendra Modi announced a ₹20Lcr ($266bn) package dubbed “Atma Nirbhar Bharat”, with the aim to make India truly self-reliant in the wake of the coronavirus pandemic. 

The fiscal stimulus package was to concentrate five pillars upon which a self-reliant India will stand upon - Economy, Infrastructure, System, Demography and Demand.

The ₹20Lcr Atma Nirbhar COVID-19 Economic Package was unveiled by Finance Minister Nirmala Sitharaman over the next couple of days.  

The stimulus package announced primarily focussed on MSMEs, poor (including Migrants and Farmers), agriculture sector in India, new horizons of growth, government reforms and enablers

How closely have you followed the Government's Atma Nirbhar Bharat Stimulus Package? Let's find out.

 

Here's a teaser:

1) Prime Minister Narendra Modi's ₹20Lcr ($266bn) stimulus package was announced by Finance Minister Nirmala Sitharaman in how many tranches?

2) Which of the following is not true of the revised definition of MSMEs?

  1. MSMEs in the service sector will also be classified along the same lines as their manufacturing counterparts
  2. Investment limit has been increased
  3. Annual turnover has been introduced as an additional criterion
  4. Government uses the New Industrial Categorisation Code (NIC Code) to classify MSMEs 

3) Under the National Food Security Act, 2013, beneficiaries are entitled to buy subsidized foodgrain - rice at x, wheat at y, and coarse grains at z - from their designated Fair Price Shops (FPS) of the Targeted Public Distribution System (TPDS). Identify x, y and z. 

4) Which of the following is not true about the stimulus package?

  1. The biggest tranche announced by the FM was Tranche 2
  2. The ₹20Lcr ($266bn) package includes liquidity measures of ₹8Lcr ($106bn) announced by the RBI earlier as well as the PM Gareeb Kalyan Yojna
  3. The actual fiscal impact of the additional stimulus is only about 1% of GDP as opposed to the claim of 10%
  4. The monetary and macro policy assistance provided by the RBI as part of the package account for 3.9% of the GDP

5) Which of the following is not a reform announced under the stimulus package?

  1. Insurance cover of ₹50L ($66,617) per health worker
  2. One Nation One Ration Card will enable a migrant beneficiary to purchase grains from any ration shop in the country
  3. Suspension of fresh initiation of insolvency proceedings up to three years
  4. Allows commercial coal mining on revenue-sharing basis 

6) Who tweeted the following?

tweet

 

7) FM announced the launch of which scheme for the integrated, sustainable, inclusive development of marine and inland fisheries?

8) Which of the following sectors has been the biggest beneficiary of the stimulus package?

9) FDI limit in defence manufacturing under the automatic route has been increased from x to y. Identify x and y"

10) In order to increase self-reliance in coal production, the Government has allowed for commercialisation of coal through ________.

FIN.

So how did you fare? Subscribe to our Quiz Knock Newsletter to receive similar Quizzes straight to your inbox.