NEW DELHI: Today, Nirmala Sitharaman talked about the govt tenders where support is provided for Construction & Infrastructure- Relaxation of Earnest Money Deposit (EMD) & Performance Security. The performance security on contracts is reduced to 3% instead of 5-10%. Also, EMD will not be required for tenders.
Centre has also given support to Agriculture where Rs 65,000 cr for subsidized fertilizers are delivered with an estimated raise in fertilizer usage of 17.8%. For boosting rural employment under PM Garib Kalyan Rozgar Yojana, a further additional outlay of Rs 10,000 cr will be provided in the current financial year. This will accelerate the growth of the rural economy.
Sitharaman said, “We are now giving Rs 6000 Crores of Equity to Debt Platform of NIIF (National Infrastructure & Investment Fund) where private equity participation will also come in. NIIF itself has invested Rs 2000 Crores.” So, by 2025, Rs 1,10,000 cr projects will be funded and the government will create this avenue for them to do it even through the Debt Market.
Rs. 3,000 cr will be released to EXIM Bank for promotion of project exports through Lines of Credit under IDEAS scheme that will be a boost for the project exports. Rs 10,200 cr additional budget outlay will be provided towards Capital and Industrial expenditure that will benefit the Domestic defence equipment, Industrial incentives, Industrial infrastructure, and green energy.
Rs 900 cr provided for COVID Suraksha Mission for Research and Development of Indian Covid Vaccine to Department of Biotechnology, informed the Union Finance Minister.