Expenses\n Incurred<\/strong>\n <\/td><\/tr>| \n Housing for All \u2013 PMAY-U\n <\/td> | \n Rs 18000 crores\n <\/td><\/tr> |
| \n Boost for Rural Employment\n <\/td> | \n Rs 10000 crores\n <\/td><\/tr> |
| R&D Grant towards the COVID Suraksha for the research and development of Indian COVID Vaccine <\/td> | \n Rs 900 crores\n <\/td><\/tr> |
| \n Industrial Infrastructure, Industrial Incentives, and\n Domestic Defense Equipment\n <\/td> | \n Rs 10200 crores\n <\/td><\/tr> |
| \n Boost for Project Exports \u2013 Support to the EXIM Bank\n <\/td> | \n Rs 3000 crores\n <\/td><\/tr> |
| \n Boost for Atma Nirbhar Manufacturing \u2013 Production Linked\n Incentives\n <\/td> | \n Rs 145980 crores\n <\/td><\/tr> |
| \n Support for Agriculture \u2013 Fertilizer Subsidy\n <\/td> | \n Rs 65000 crores\n <\/td><\/tr> |
| \n Boost for Infrastructure \u2013 Infusion of the Equity in the NIIF\n Debt PF\n <\/td> | \n Rs 6000 crores\n <\/td><\/tr> |
| \n Atma Nirbhar Bharat RozgarYojana (overall Rs 36000 crores)\n <\/td> | \n Rs 6000 crores\n <\/td><\/tr> |
\n Total<\/strong>\n <\/td>\n Rs<\/strong> 265080<\/strong> crores<\/strong>\n <\/td><\/tr><\/tbody><\/table>\n\n\n\n<\/span>Summary\u00a0of\u00a0Till Date Announced Stimulus Measures<\/span><\/h2>\n\n\n\n\n S. No<\/strong><\/strong>\n <\/td>\n Particulars<\/strong><\/strong>\n <\/td>\n Rs in Crore<\/strong><\/strong>\n <\/td><\/tr>| \n 1.\n \n <\/td> | \n PMGKP (Pradhan MantriGaribKalyan Package)\n <\/td> | \n Rs 192800\n <\/td><\/tr> | | \n 2.\n <\/td> | \n Atma Nirbhar Bharat Abhiyaan 1.0\n <\/td> | \n Rs 1102650\n <\/td><\/tr> | | \n 3.\n <\/td> | \n PMGKP Anna Yojana \u2013 an extension of 5 months from July to\n November\n <\/td> | \n Rs 82911\n <\/td><\/tr> | | \n 4.\n <\/td> | \n Atma Nirbhar Bharat Abhiyaan 2.0 (till 12th October)\n <\/td> | \n Rs 73000\n <\/td><\/tr> | | \n 5.\n <\/td> | \n Atma Nirbhar Bharat Abhiyaan 3.0\n <\/td> | \n Rs 265080\n <\/td><\/tr> | | \n 6.\n <\/td> | \n RBI Measures announced till 31.10.2020\n <\/td> | \n Rs 1271200\n <\/td><\/tr> | | \n \n <\/td> | \n Total\n <\/td> | \n Rs 2987641\n <\/td><\/tr><\/tbody><\/table>\n\n\n\n<\/span>Impact of Atma Nirbhar Bharat Package 3.0 on Indian Economy: An Analysis<\/span><\/h2>\n\n\n\nThe latest announcements made by the\ngovernment are based on the ideology of \u201cFiscal Conservatism<\/em><\/strong>\u201d, i.e., instead\nof large cash transfers, the growth philosophy revolves around establishing an ecosystem that promotes\ndomestic demand, incentivizes companies to create jobs and boost\nproduction, and at the same time extends benefits and privileges to those who\nare in severe distress, be it individuals or firms.<\/p>\n\n\n\nFurther, the measures follow a\u00a0\u201cMulti-pronged Approach<\/em>\u201d,<\/strong>\u00a0which aims at generating employment and promising formalization of the workforce in urban areas by the following methods:<\/p>\n\n\n\n- Increasing the scope of the distress employment provided in rural areas;<\/li>
- Easing out the credit flow in the stressed parts of the economy;<\/li>
- Expanding the incentives recommended to boost domestic manufacturing;<\/li>
- Kick-starting the cycle of Real Estate among others;<\/li><\/ol>\n\n\n\n
Altogether, the reasons behind the\nannouncement of COVID- 19 measures by the government is to increase the\nCentre\u2019s Fiscal Outgo by 2% of GDP (Gross Domestic Product) in the year 2020 \u2013\n2021.<\/p>\n\n\n\n Further, according to the Central Government and RBI, the total fiscal stimulus announced to fight over COVID \u2013 19 pandemic till date (inclusive of Atma Nirbhar Bharat 1.0 and Atma Nirbhar Bharat 2.0) is Rs 29.87 lakh crores, which makes around 15% of the National GSP. Also, out of this, the financial stimulus worth9% of the GDP\u00a0has already been offered by the government.<\/p>\n\n\n\n <\/span>Conclusion<\/span><\/h2>\n\n\n\nIn a nutshell, even though the Indian Economy has shrunk due to the COVID 1- pandemic and has suffered negative growth in its first two quarters. Therefore, the economy is on the verge of revival. Also, the GST collection for the month of October has crossed Rs 1.05 Lakh crores. <\/p>\n\n\n\n Further, as per the\nmarket predictions made by the Apex Bank, there are strong chances that the\nIndian Economy will return to positive in its third quarter of the financial\nyear 2020 \u2013 2021.<\/p>\n\n\n\n Also, the financial stimulus package will further strengthen and reinforce the economy and will assist in achieving the target of $ 5 trillion Economy.<\/p>\n\n\n\n
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