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Modi govt shows progress report of ‘Atma Nirbhar Bharat’ package; promised funds reach farmers

By the end of the half fiscal year 2020-21, Rs 25,000 crore out of the pledged additional emergency working capital fund for farmers worth Rs 30,000 crore has been disbursed.

While 58.12 lakh KCC cards with a KCC limit of Rs 46,330 crore had been sanctioned in Phase I, a total number of 83.03 lakh KCC with a KCC limit of Rs 78,999.80 crore has been sanctioned under Phase 2.

The Ministry of Finance today released the progress report of the Atma Nirbhar Bharat package announced in the month of May this year. By the end of the half fiscal year 2020-21, Rs 25,000 crore out of the pledged additional emergency working capital fund for farmers worth Rs 30,000 crore has been disbursed, the government said. Also, under the Emergency Credit Line Guarantee Scheme of disbursing collateral-free loans of Rs 3 lakh crore, Rs 1.86 lakh crore has been sanctioned, out of which Rs 1.32 lakh crore has been disbursed to 27 lakh borrowers.

Partial Credit Guarantee Scheme 2.0 for NBFCs, HFCs, and MFIs

Under the Atma Nirbhar package, the government had pledged Rs 45,000 crore as Partial Credit Guarantee Scheme 2.0 for NBFCs, HFCs, and MFIs to do fresh lending to MSMEs and individuals. The government informed that banks have approved the purchase of a portfolio of Rs 25,505 crore and are currently in process of approval and negotiations for Rs 3,171 crore. As reported by PSU banks so far, the portfolio of Rs 16,401 crore has been purchased.

Special Liquidity Scheme for NBFCs, HFCs, and MFIs

By the end of H1 FY21, out of Rs 30,000 crore, 39 proposals involving an amount of Rs 11,120 crore have been approved. Out of this sanctioned amount, Rs 7,227 crore has been disbursed whereas Rs 182 crore will not be availed, the finance ministry said. Also, the remaining sanctions of Rs 3,707 crore have lapsed as the scheme has been closed on 30 September.

Kisan Credit Cards

The government had promised Rs 2 lakh crore concessional credit boost to 2.5 crore farmers through Kisan Credit Cards in a special drive. While 58.12 lakh KCC cards with a KCC limit of Rs 46,330 crore had been sanctioned in Phase I, a total number of 83.03 lakh KCC with a KCC limit of Rs 78,999.80 crore has been sanctioned under Phase 2, as of 25 September 2020.

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