Rs 69,000 crore provided for Health Care in Union Budget 2020-21
Viability Gap Funding Window proposed for Setting Up Hospitals under Prime Minister Jan Arogya Yojana in PPP Mode
Jan Aushadhi Kendra Scheme to be Expanded to all Districts by 2024
In order to achieve the holistic vision of health care that translate wellness of the citizen, about Rs. 69,000 crore have been provided for health care in Union Budget 2020-21. It includes Rs. 6400 crores for Prime Minister Jan Arogya Yojana (PMJAY).
While presenting the Union Budget 2020-21 in Parliament today, the Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman said, “presently, under PM Jan Arogya Yojana (PMJAY) there are more than 20,000 empanelled hospitals. We need more in Tier-2 and Tier-3 cities for poorer people under this scheme. It is proposed to set up Viability Gap funding window for setting up hospitals in the PPP mode. In the first phase, those Aspirational Districts will be covered, where presently there are no Ayushman empanelled hospitals. This would also provide large scale employment opportunities to youth. Proceeds from taxes on medical devices would be used to support this vital health infrastructure”.
Smt Sitharaman further said that health authorities and the medical fraternity can target disease with an appropriately designed preventive regime using machine learning and AI, in the Ayushman Bharat scheme. She said, “TB Harega Desh Jeetega campaign has been launched. I propose to strengthen these efforts towards our commitment to end Tuberculosis by 2025”.
The Minister for Finance and Corporate Affairs also announced to expand Jan Aushadhi Kendra Scheme to all districts offering 2000 medicines and 300 surgicals by 2024.
Deposit Insurance coverage to be increased to Rs. Five lakh per depositor
PFRDAI Amendments: separate NPS trust for Govt Employees
Proposal to sell a part of government holding in LIC by way of IPO: opportunity for retail investors
Focus on MSMEs: Invoice Financing, Subordinate Debt, Export support Schemes announced
Govt asks RBI to consider extension of debt restructuring window for MSMEs till March 31, 2021
103 lakh crores for national infrastructure pipeline: 22,000 crores via equity support to infrastructure finance companies
International bullion exchange proposed in gift-ISC for better gold price discovery and creation of jobs
Limits for FPI in corporate bonds increased from 9% to 15% of outstanding stock
New debt-ETF consisting primarily of government securities proposed
With a view towards unlocking flow of capital to the financial sector, the Union Minister for Finance and Corporate Affairs unveiled several reforms across the banking sector, financial markets and infrastructure financing.
While presenting the Union Budget 2020-21 in Parliament today, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman said, “A clean, reliable and robust financial sector is critical to the economy. In our efforts to achieve the USD 5 trillion economy, the financial architecture should keep evolving and move from strength to strength.”
In order to unlock private capital, Smt. Sitharaman proposed the sale of the balance holding of Government of India in IDBI Bank to private, retail and institutional investors through stock exchange. On the back of bank consolidation and capital infusion of Rs. 3,50,000 crore into Public Sector Banks (PSBs), the Finance Minister asserted that governance reforms would be carried out to make them more competitive, transparent and professional and thereby ensure a robust banking system. A few PSBs would also be encouraged to approach capital market to raise additional capital.
Further, the Minister announced that Deposit Insurance and Credit Guarantee Corporation (DICGC) has been permitted to increase Deposit Insurance coverage to Rs. 5 lakh per depositor from Rs. 1 lakh previously. She emphasized that a robust mechanism is in place to monitor the health of all Scheduled and Commercial Banks, and thereby ensure safety of depositor money.
Cooperative banks and NBFCs are also important constituents of the financial sector to be strengthened through improved governance. With respect to the Cooperative Banks, amendments to the Banking Regulation Act have been proposed to increase professionalism, facilitate access to capital and improve oversight through RBI. Further, limit for NBFCs to be eligible for Debt Recovery Mechanism via SARFAESI Act, 2002, is proposed to be reduced from existing asset size limits of Rs. 500 crore to Rs. 100 crores or loan size from existing Rs. 1 crore to Rs. 50 lakh.
Stressing on the need to strengthen the regulatory role of PFRDAI, the Finance Minister proposed necessary amendments in PFRDAI Act that will also facilitate separation of NPS trust for Government employees from PFRDAI. This would also enable establishment of a Pension Trust by the employees other than Government. Further, the Government proposes to infuse auto-enrolment into Universal Pension Coverage, apart from mechanisms for inter-operability and safe-guarding of accumulated corpus. “I am confident that this will motivate citizens to plan for their old age”, she added.
Micro, Small and Medium Sector Enterprises (MSMEs)
The Finance Minister noted that MSMEs are vital to the economy as they are the innovators, job creators and risk-takers. Several initiatives have been announced to enhance economic and financial sustainability of MSMEs.
To enable NBFCs to extend invoice financing to MSMEs through TReDS, amendments have been proposed to Factor Regulation Act, 2011. Further, the Minister announced the launch of an app-based invoice financing loans product to obviate the problem of delayed payments and consequential cash-flow mismatch.
· A new scheme to provide subordinate debt to MSME entrepreneurs has been proposed to mitigate the issues of working capital credit. This subordinate debt, to be provided by banks, would count as quasi-equity, and be fully guaranteed through Credit Guarantee Trust for Medium and Small Entrepreneurs (CGTMSE), whose corpus shall be accordingly augmented by the Government.
· The Government has asked RBI to consider extension of debt restructuring window for MSMEs till March 31, 2021. More than five lakh MSMEs have benefitted from restructuring of debt permitted by RBI in the last year and the same is due to end on March 31, 2020.
In order to offer handholding support for mid-size companies in export markets, the Government has proposed a scheme of Rs. 1000 crore, to be anchored by EXIM Bank and SIDBI, each of which shall contribute Rs. 50 crore each. This Rs. 100 crore would be achieved towards equity and technical assistance, while the remaining Rs 900 crore would be via debt funding from banks. The scheme shall focus on selected sectors like pharmaceuticals, auto components and others, and would extend support for technology upgradations, R&D, business strategy etc
Disinvestment
In order to provide greater access to financial markets, unlock true value and induce market discipline, the Government has proposed sale of a part of its holding in LIC by way of Initial Public Offer (IPO). This shall also be an opportunity for retail investors to participate in the wealth so created.
Infrastructure Financing
The Finance Minister highlighted the Government’s commitment to infrastructure investment with its announcement of Rs 103 lakh crore National Infrastructure Pipeline projects. She informed the House that Rs 22,000 crore has already been provided for the same. This shall serve as equity support to Infrastructure Finance Companies such as IIFCL and a subsidiary of NIIF, who shall then leverage it, as permissible, to create a financing pipeline of more than Rs. 1,00,000 crore.
Underscoring the potential of IFSC, GIFT city to become a centre for international finance and high-end data processing, Smt Sitharaman proposed the setting up of an International Bullion Exchange at GIFT-IFSC as an additional option for trade by global market participants. It is further expected to enable better gold price discovery, create jobs and enhance India’s position worldwide. The Minister outlined that GIFT-IFSC already has an approved Free Trade Zone for housing vaults, 19 insurance entitites, 40 banking entities, along with precious metals testing laboratories and refining facilities being set up.
Financial Markets
To achieve the aspirational growth rate, the Finance Minister underscored the need to boost the flow of capital in the financial system, through the following measures, taken in consultation with RBI:
FPI limits in corporate bonds are proposed to be increased to 15 per cent of outstanding stocks from the current 9 per cent
· Specified categories of Government securities would be opened fully for non-resident investors, along with domestic investors as well
· New Debt-based Exchange Traded Fund (ETF) consisting primarily of Government Securities to be floated. This is on the back of the massive success of the previous version. Further, it is expected to give retail investors access to Government securities, attractive investment option to Pension Funds and long-term investors
· A new legislation is proposed for laying down mechanisms for netting of financial contracts; this is to improve investor confidence and further expand the scope of Credit Default Swaps.
A new mechanism would be devised to further support the Partial Credit Guarantee Scheme floated by the Government, post the Union Budget 2019-20, to address the liquidity crisis of NBFCs. The Government will offer support by guaranteeing securities so floated.
Tourism sector proposed to get Rs 2,500 Crore in union budget 2020-21
Rs 3,150 Crore proposed for Ministry of Culture
Indian Institute of Heritage and Conservation to be established
8 New Museums proposed, 5 Museums set for major overhaul
5 Iconic sites to see Infrastructure development
To make India an attractive destination for both international and domestic tourists, the Finance Minister proposed to allocate Rs 2,500 crores in 2020-21 for the tourism sector. Besides tourism, Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman also proposed to allocate Rs 3,150 crore for Ministry of Culture while presenting the Union Budget 2020-21 in Parliament today.
In order to have well-trained resources in the disciplines of museology and archeology, the Finance Minister proposed to establish first Indian Institute of Heritage and Conservation with the status of a deemed university to operate under the Ministry of Culture. She said, “Acquisition of knowledge in disciplines such as museology and archeology are essential for collecting and analysing scientific evidence of such findings and for dissemination through high quality museums.”
Highlighting improved tourism revenues due to better rank, the Finance Minister said, “India had moved up from rank 65 in 2014 to 34 in 2019 in the Travel & Tourism Competitive Index (World Economic Forum).” Due to this, she continued, “Foreign Exchange earnings grew 7.4% to Rs 1.88 lakh crores for the period January 2019 from Rs 1.75 lakh crores.”
In a major bid to revitalise tourism, Smt. Sitharaman proposed 8 new museums, which includes building infrastructure around 5 Iconic Sites, besides proposing renovation of 5 major museums across the length and breadth of India.
The Union Finance Minister proposed the following:
5 Archeological sites to be set-up/developed as Iconic Sites with on-site Museums at the following locations:
Rakhigarhi (Haryana)
Hastinapur (Uttar Pradesh)
Shivsagar (Assam)
Dholavira (Gujarat)
Adichanallur (Tamil Nadu)
Maritime Museum to highlight Harappan Age at Lothal, Ahmedabad, by Ministry of Shipping
KOLKATA:
Indian Museum: Re-curation of the oldest museum in India as announced by Prime Minister Narendra Modi in January 2020.
Numismatics and Trade Museum to be located in the historic Old Mint Building
Support for setting up Tribal Museum in Ranchi (Jharkhand)
Renovation and re-curation of 4 more museums across India
Recognising the role of States in the proposed scheme for growth and employment generation, Smt. Sitharaman said, “Growth of tourism directly relates to growth and employment. States have a critical role to play. I expect State Governments expected to develop a roadmap for certain identified destinations and formulate financial plans during 2021 against which specified grants will be made available to the States in 2020-21”.
Entrepreneurship has always been the strength of India: Smt. Nirmala Sitharaman
Announces setting up of investment clearance cell to provide “End-to-End” facilitation and support to entrepreneurial youth
Proposes developing five new smart cities in collaboration with states in PPP mode
Encourages manufacture of mobile phones, electronic equipment and semi-conductor packaging
Proposes launching a national technical textiles mission to position India as a global leader in technical textiles
Announces a new scheme NIRVIK to achieve higher export credit disbursement
Government e-marketplace (GeM) to create a unified procurement system to procure goods, services and works
The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman has said that Entrepreneurship has always been the strength of India and our young men and women have been contributing to India’s growth with their entrepreneurial skills. She was presenting the Union Budget 2020-21, in Parliament, here today. We recognise the knowledge, skills and risk-taking capabilities of our youth and they are no longer job seekers but they are job creators, she added.
The Finance Minister proposed setting up of an Investment Clearance Cell that will provide “end to end” facilitation and support to create more opportunities to youth and remove road-blocks. She also proposed to develop five new smart cities in collaboration with States in PPP mode and such sites would be chosen that offer the best choices in terms of aforementioned principles.
Smt. Nirmala Sitharaman said that electronics manufacturing industry is very competitive and the potential in job creation is immense. She further said that India needs to boost domestic manufacturing and attract large investments in the electronics value chain. She proposed a scheme to encourage manufacture of mobile phones, electronic equipment and semi-conductor packaging. She also proposed a National Technical Textiles Mission with a four-year implementation period from 2020-21 to 2023-24 at an estimated outlay of Rs. 1480 crore to position India as a global leader in Technical Textiles.
She referred the Prime Minister’s call from Red Fort about quality and standards when he spoke of “Zero Defect-Zero Effect” manufacturing. All Ministries, during the course of this year, would be issuing quality standard orders, she added.
The Finance Minister announced a new scheme NIRVIK to achieve higher export credit disbursement, which provides for higher insurance coverage, reduction in premium for small exporters and simplified procedure for claim settlements. She further said that by the end of 5th year, this Scheme is expected to support export of around Rs 30 lakh crore. She proposed to digitally refund to exporters, duties and taxes levied at the Central, State and local levels, such as electricity duties and VAT on fuel used for transportation, which are not getting exempted or refunded under any other existing mechanism.
Smt. Sitharaman said that Government e-Marketplace (GeM) is moving ahead for creating a Unified Procurement System in the country for providing a single platform for procurement of goods, services and works. She proposed to take the turnover of GeM to Rs. 3lakh crores. She also proposed to provide Rs. 27300 crore for development and promotion of Industry and Commerce for the year 2020-21.
Opportunity to revision of option to come over to CCS (RP) Rules, 2016
F.NO. 2-16/2017-PAP
Ministry of Communications
Department of Posts
[Establishment Division/P.A.P. Section]
Dak Bhawan, Sansad Marg,
New Delhi-110001
Dated: 30.01.2020
To
The Chief Post Master General,
AP Circle,
Vijayawada — 520013.
Sub : Opportunity to revision of option to come over to CCS (RP) Rules, 2016.
I am directed to forward herewith letter No. 1-11/7th CPC pay fixation dated 16.12.2019 from General Secretary, National Association of Postal Employees Group C, addressed to Secretary (Post), regarding the wrong practice of DAP, Hyderabad, issuing clarification dated 22.05.2019 on DoE OM 4-13/17-IC/E-III A dated 12.12.2018, at their level.
2. The matter has been examined at this end and the Competent Authority has directed to withdraw the impugned order dated 22.05.2019 issued by PAO, AP Circle Hyderabad. The matter may be referred to this office for seeking clarification on the OM of DoE dated 12.12.2018, mentioning specific cases of officers/ officials with service particulars.
(S.B. Vyavahage)
Assistant Director General (Estt.)
To
All Heads of Telecom Circles/ Administrative Offices,
Bharat Sanchar Nigam Limited.
Sub :- BSNL Voluntary Retirement Scheme 2019 – settlement of dues / loans taken by VRS optees from the co-operative societies / Banks under MoU arrangement.
Sir,
I am directed to refer to the above cited subject and to inform that various references have been received in BSNL CO seeking clarification/ guidelines for settlement / repayment of dues and loans taken by VRS optees from cooperative societies /commercial banks under MOU with BSNL. The issue has been examined in consultation with the concerned branch in BSNL Corporate office. In this regard, the following has been decided:
(i) The liability of settlement / repayment of such dues and loans lies with the individual employee concerned. Therefore, the employees who are retiring under VRS-2019 may take necessary action for settlement / closure of such dues / loans and intimate the status along with documentary evidence / NOC from Bank or co-operative society to the DDO concerned latest by 07.02.2020.
(ii) As an alternative, such VRS optees may authorize the concerned DDOs in writing, along with latest statements of total outstanding dues / loans of the co- operative society / Bank, to recover the outstanding dues / loans from leave encashment and if leave encashment amount is not sufficient the balance amount may be recovered from the first installment of ex-gratia payable to them before making payment.
(iii) Where DDO shall recover the sums from leave encashment, such amounts shall be remitted to concerned banks / societies immediately after obtaining funds from Banking Cell of BSNL CO. Further, where recourse is to be taken to ex-gratia, for effecting such recoveries after exhausting the leave encashment, the funds are to be sought from Banking Cell of BSNL CO for the whole ex-gratia amount and for utilization, it should include the sums released to the employee as also the amount recovered and released towards Bank / society dues.
(iv) Simultaneously, DDOs will communicate the list of concerned employees who are retiring under VRS- 2019 to the respective banks and cooperative societies and intimate that deduction of dues / EMIs from the salaries will not be possible after 31st Jan, 2020 from their salaries to enable the cooperative societies / banks to take necessary action for settlement of their dues/ outstanding loans.
(v) In case any VRS optee, who has outstanding liability of such dues / loans, fails to take action as per (i) or (ii) above, the amount payable on account of Leave encashment and first installment of ex-gratia will be paid after withholding such outstanding amount, without any interest thereon. The withheld amount will be released on submission of documentary evidence/ NOC from Bank or co-operative society regarding settlement of dues/loans as the case may be.
This issues with the approval of competent authority.
Yours faithfully,
Sd/-
(Keshav Kumar)
Asstt. General Manager (Estt. I)
Controller General of Defence Accounts Ulan Batar Road, Palam, Delhi Cantt.-110010
Immediate
No: AN/VI/15001/PFMS/2020
Dated: 30.01.2020
To
The PCsDA/PCA (Fys)/CsDA
(For personal attention)
Subject: Migration to PFMS : Grant No 18 (MoD-Civ)
As per the directions of MoD (Fin), the organizations including DAD is required to migrate to PFMS Portal w.e.f 01.04.2020. Since DAD organization forms a part of the MoD(Civ) Grant, therefore, all PCsDA /CsDA would have to come on board on PFMS system wef 01.04.2020. Accordingly, Task Force under the Chairmanship of AS &FA (Acq) has already been set up and first meeting is being held on 30th Jan 2020.
Therefore, the following information in enclosed format related to MoD (Civ) Grant dealt with in your organization to assess the quantum of workload on PFMS, may be sent urgently before 03.02.2020 by Fax/email at [email protected] for onward submission to the Ministry as desired for time bound implementation of PFMS in the department.
Briefcase allowance in the Defence Accounts Department – CGDA
Controller General of Defence Accounts Ulan Batar Road, Palam, Delhi Cantt.-110010
No. AN/14/14114/III/JCM/Briefcase
Dated: 28.01.2020
IMPORTANT CIRCULAR
To
All PCsDA/CsDA/PCA (Fys)
(Through Website)
Sub: Reimbursement of briefcase allowance in the Defence Accounts Department.
lt has come to the notice of this HQrs. that some of the Controller Offices are making reimbursement of briefcase allowance to the Officers and Staff of DAD at varied rates. It is therefore informed that the rates of reimbursement of briefcase allowance to the Officers and Staff of the DAD should strictly conform to the rates prescribed by the Ministry of Defence (Finance) vide its Circular No. S(10)/2013/Gen dated 16th April 2013 which are as follows:-
Level of Officers/ Officials (Ministry)
Level of Officers/ Officials (DAD)
Rates (Rs.)
Secretary/ Special Secretary
CGDA
9000/-
Addl. Secretary & equivalent
Addl. CGDA/ PCsDA and equivalent
8000/-
Joint Secretary & equivalent
CsDA and equivalent
6500/-
Director/ Dy. Secy./Sr. PPS & equivalent
Addl. CsDA/ Jt. CsDA and equivalent
5000/-
Under Secretary/PPS & equivalent
DCsDA/PPSs and equivalent
4000/-
Desk Officer/ Section Officer & equivalent
ACsDA/ADs (OL)/Sr.AOs/AOs/ AAOs/SPSs and equivalent
3500/-
Assistant/ PA (GP Rs. 4600/-) & equivalent
Non-Gazetted Staff in the Grade pay equivalent Rs. 4600/- and above.
3000/-
2. The officers/ staff entitled for Briefcase allowance can purchase briefcase/ office bag/ ladies purses of their own choice from any private/ public outlet. However, the reimbursement shall be restricted to the above mentioned ceiling limits.
3. The briefcase/ office bag/ladies purse shall be provided to the entitled officers/ staff on joining the Department or on completion of three years from the date of issue of a one.
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