Finance Minister Sitharaman announces last tranche of economic package: PSUs to exit non-strategic areas

DY365
DY365
Published: May 17,2020 03:53 PM
DY365

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May 17, 2020: Finance Minister Nirmala Sitharaman on Sunday completed the announcement of the last leg of the 20 lakh crore rupees economic package announced by Prime Minister Narendra Modi

May 17, 2020: Finance Minister Nirmala Sitharaman on Sunday completed the announcement of the last leg of the 20 lakh crore rupees economic package announced by Prime Minister Narendra Modi earlier with a combination of several reforms, fiscal and liquidity measures.



To improve livelihood for the poor, the Modi government today hiked the MGNREGA budget hiked by an additional 40,000 crore rupees. Sitharaman also announced that public sector enterprises or PSUs will exit non-strategic areas and private companies will be allowed to enter all sectors.



Sitharaman said the number of PSUs in strategic sectors will be maximum four. Others will be privatized or merged. In certain sectors, PSUs will be privatized. New policy to broadly categories strategic sectors will be formulated.



The Finance Minister further informed that 100 universities will be permitted to automatically start online courses by May 30 this year. Radio, community radio and podcasts will be extensively used. One TV channel will be earmarked for every class from 1 to 12.



The Finance Minister also detailed the break-up of the 20 lakh crore rupees package which includes liquidity measures of 8 lakh crore rupees announced b the RBI earlier as well as the PM Gareeb Kalyan Yojna.