consistent steps to impart support to the States in the challenging times of the pandemic?

-

 Enhanced limit of borrowing for FY2020-21 under Atma Nirbhar Bharat package :

  •  Under the Atma Nirbhar Bharat package, additional borrowing limit of up to 2 percent of Gross State Domestic Product (GSDP) was allowed to the States, which was equivalent to ` 4.27 lakh crore. Of the additional 2 per cent borrowing allowed to the States, the first instalment of 0.5 per cent borrowing was untied for all the states. 
  • The second part amounting to 1 per cent of GSDP was subject to implementation of following four specific State level reforms, where weightage of each reform is 0.25 per cent of GSDP:- 
  • a) Implementation of One Nation One Ration Card System; 
  • b) Ease of doing business reform; 
  • c) Urban Local body/ utility reforms; and
  •  d) Power Sector reforms.
Compensation to the States for loss in GST revenue:

  • In order to compensate the states for the loss of GST revenue during FY 2020-21, Central Government had given the states an option to either borrow the shortfall arising out of GST implementation through issue of debt under a Special Window coordinated by the Ministry of Finance which was passed on to the States and UTs 

  • the states are also entitled to get unconditional permission to borrow the final instalment of 0.5 per cent of GSDP out of the 2% additional borrowing permitted for FY 2020-21. This amounts to an additional mobilization of ` 1.07 lakh crore, over and above the ` 1.1 lakh crore special window to meet the revenue shortfall arising out of GST implementation. 

Scheme for Special Assistance to States for Capital Expenditure :

  • During the year 2020-21, considering the fiscal environment faced by the State Governments due to the shortfall in tax revenues arising from the COVID-19 pandemic, 'Scheme for Special Assistance to States for Capital Expenditure', has been approved wherein special assistance is being provided to the State Governments in the form of 50-year interest free loan up to an overall sum not exceeding ` 12,000 crore.
SDRF 

  • The Central Government by way of a special one-time dispensation had decided to treat COVID-19 as a notified disaster for the purpose of providing assistance under SDRF

Comments

Post a Comment

Popular posts from this blog

Discuss the impact of social media, overprotective parenting, and the decline of unsupervised outdoor play on children’s emotional well-being?

-
 The emotional well-being of children has been increasingly influenced by several modern factors, including social media, overprotective parenting, and the decline of unsupervised outdoor play. Each of these elements plays a role in shaping children's emotional health, and their combined effects can be complex. Here’s a closer look at how each factor impacts children: 1. Social Media Impact on Emotional Well-being: Increased Anxiety and Depression : Social media can expose children to idealized images and lifestyles, potentially leading to feelings of inadequacy and low self-esteem. For example, seeing peers portray seemingly perfect lives on platforms like Instagram or TikTok can make children feel like they don't measure up. Cyberbullying : Social media can be a medium for cyberbullying, which can lead to increased stress, anxiety, and depression. Victims of online bullying may experience emotional trauma and difficulty trusting others. Reduced Face-to-Face Interaction : Exce...
Read more

How political economy remains decisive in ensuring shared prosperity from technology.Explain?

-
  Political economy plays a crucial role in ensuring that technological advancements lead to shared prosperity rather than exacerbating inequalities. Here’s how: Regulation and Governance : Political decisions shape the regulatory framework that governs how technologies are developed, deployed, and used. Regulations can ensure fair competition, protect consumer rights, and promote inclusivity. For instance, laws can mandate accessibility standards for technology to ensure that all individuals benefit equally. Distribution of Benefits : The political economy determines how the economic benefits of technological progress are distributed. Policies such as progressive taxation or welfare programs can redistribute wealth and ensure that gains from technology benefit a broader segment of society, not just the wealthy or tech-savvy. Labor Market Dynamics : Technology often disrupts traditional industries and jobs. Political decisions influence how governments respond to these changes thro...
Read more

Discuss the Salient features of cultural tradition of south India as reflected in Sangam leterature?15M

-
Introduction :  The Sangam Age in Indian history witnessed the rapid development of literary works in the southern regions. The literature that was created during this time came to be known as Sangam literature Mostly literary sources help us to understand t he society and culture of the Sangam age , which provides information regarding t he classification of the people, caste system , various occupations , practice of slavery , d ress and food hab it, status of women , religious practice s, education a nd other f ine ar t. Sources to understand Cultural Tradition of south India  The literatures are the primary sources for understanding the socio-cultural life of the people of Sangam age. The literatures of the Sangam age consists of the earliest Tamil literary works such as Tolkappiyam, the Ettutogai (Eight Anthologies), the Pattuppattu (Ten Idylls), the Pandinenkilkanakku (Eight Minor works) and the Five Epics Silappathikaram, Manimegalai, Sivaga Sindamani, Valaiyap...
Read more