{"id":6302,"date":"2020-05-17T15:13:23","date_gmt":"2020-05-17T09:43:23","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=6302"},"modified":"2022-01-22T16:39:38","modified_gmt":"2022-01-22T11:09:38","slug":"important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/","title":{"rendered":"Atmanirbhar Scheme Reduction of compliance obligation"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6ac0e5ba357eb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6ac0e5ba357eb\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#Important_Relevant_updates_on_the_reduction_of_compliance_obligation_under_the_Atmanirbhar_Scheme\" >Important Relevant updates on the reduction of compliance obligation under the Atmanirbhar Scheme:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#TODAY_%E2%80%98S_FIFTH_AND_LAST_TRANCH_OF_ANNOUNCEMENTS_FOCUS_ON_8_SECTORS\" >TODAY &#8216;S FIFTH AND LAST TRANCH OF ANNOUNCEMENTS FOCUS ON 8 SECTORS:<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#1_MGNREGA_Scheme\" >1. MGNREGA Scheme\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#2_HEALTHs\" >2. HEALTH&#8217;s<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#3_EDUCATION-driven_technology\" >3. EDUCATION-driven technology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#_4_Significant_support_to_distressed_firms_Fresh_IBC_has_been_suspended_for_one_year_As_per_the_declaration_of_FM\" >\u00a04.\u00a0 Significant support to distressed firms: Fresh IBC has been suspended for one year. As per the declaration of FM.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#_5_State_seeks_to_decriminalize_losses_under_the_Companies_Act\" >\u00a05. State seeks to decriminalize losses under the Companies Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#_6_Simplify_of_doing_business_for_companies\" >\u00a06. Simplify of doing business for companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#7_Fresh_Public_Sector_Business_Strategy\" >7. Fresh Public Sector Business Strategy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#_8_Policy_management_and_services\" >\u00a08. Policy management and services<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#A_Part_of_the_loan_would_be_related_to_specific_reforms_The_relation_between_the_reforms_will_be_in_four_areas\" >A.\u00a0\u00a0 Part of the loan would be related to specific reforms. The relation between the reforms will be in four areas:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/important-updates-on-the-reduction-compliance-obligation-under-atmanirbhar-scheme\/#_B_The_Department_of_Spending_should_be_told_of_a_particular_scheme\" >\u00a0B.\u00a0\u00a0 The Department of Spending should be told of a particular scheme<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2020\/09\/sita-ra.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-8561\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2020\/09\/sita-ra.jpg\" alt=\"www.carajput.com; Sitharaman\" width=\"832\" height=\"466\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Important_Relevant_updates_on_the_reduction_of_compliance_obligation_under_the_Atmanirbhar_Scheme\"><\/span><strong><em style=\"font-size: 16px;\">Important Relevant updates on the reduction of compliance obligation under the Atmanirbhar Scheme:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"TODAY_%E2%80%98S_FIFTH_AND_LAST_TRANCH_OF_ANNOUNCEMENTS_FOCUS_ON_8_SECTORS\"><\/span><span style=\"color: #000080;\"><em>TODAY &#8216;S FIFTH AND LAST TRANCH OF ANNOUNCEMENTS FOCUS ON 8 SECTORS:<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4><span class=\"ez-toc-section\" id=\"1_MGNREGA_Scheme\"><\/span><span style=\"color: #000080;\"><em>1. MGNREGA Scheme\u00a0<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"padding-left: 40px;\"><em>Total budget was Rs 61,000 crores<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>The extra Rs 40,000 crores allotted<\/em><\/p>\n<h4><span class=\"ez-toc-section\" id=\"2_HEALTHs\"><\/span><span style=\"color: #000080;\"><em>2. HEALTH&#8217;s<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"padding-left: 40px;\"><em>Setting up the <a href=\"https:\/\/carajput.com\/blog\/tag\/public-limited-company\/\">public<\/a> system<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Block all districts to avoid infectious diseases<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Public health laboratories to be set up at block level in all districts;<\/em><\/p>\n<h4><span class=\"ez-toc-section\" id=\"3_EDUCATION-driven_technology\"><\/span><span style=\"color: #000080;\"><em>3. EDUCATION-driven technology<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"padding-left: 40px;\"><em>PM e-Vidya multi-mode control system<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>One-nation interactive school under DIKSHA for school education<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>A One-year Television channel for each class;<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Extensive use of radios<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Special e-content for children of Divyang<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Top 100 universities must ultimately be allowed to start online courses by 30 May 2020.<\/em><\/p>\n<h4><span class=\"ez-toc-section\" id=\"_4_Significant_support_to_distressed_firms_Fresh_IBC_has_been_suspended_for_one_year_As_per_the_declaration_of_FM\"><\/span><em>\u00a0<\/em><span style=\"color: #000080;\"><em>4.\u00a0 Significant support to distressed firms: Fresh <a href=\"https:\/\/carajput.com\/blog\/category\/ibc\/\">IBC<\/a> has been suspended for one year. As per the declaration of FM.<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"padding-left: 40px;\"><em>IBC related &#8211; debts related to COVID 19 are out of IBC default <\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>No further insolvency lawsuits can be launched for up to a year. i.e No fresh insolvency case will be initiated for up to a year<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Minimum limit of IBC would be Rs. 1 Cr. i.e Total insolvency requirement lifted from Rs 1 lakh to Rs 1 crore<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Decriminalised all the sections. Few Non Compoundable offenses would become compoundable offenses. <\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Compounding by ROC <\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Direct listing in foreign destinations <\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>NCD listing would not be treated as listed companies for the purpose of <a href=\"https:\/\/carajput.com\/blog\/process-of-company-registration-in-india\/\">Companies<\/a><\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Covid-related loans should be exempt from default under IBC<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>For MSMEs, a special insolvency framework will be notified<\/em><\/p>\n<h4><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/imgk.timesnownews.com\/media\/EYMwgQbU8AETo-8.jpg\" alt=\"Fresh IBC proceedings suspended for a year; debts related to Covid ...\" width=\"804\" height=\"453\" \/><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"_5_State_seeks_to_decriminalize_losses_under_the_Companies_Act\"><\/span><em>\u00a0<\/em><span style=\"color: #000080;\"><em>5. State seeks to decriminalize losses under the<a href=\"https:\/\/www.caindelhiindia.com\/blog\/annual-return-of-company-under-companies-act-2013\/\"> Companies Act<\/a><\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"padding-left: 40px;\"><em>Bulk of compound crimes parts to be transferred to the Internal Adjudication System (IAM) and improved RD forces for compounding.<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>7 compounding crimes dropped entirely and 5 to be dealt with in an alternate system.<\/em><\/p>\n<h4><span class=\"ez-toc-section\" id=\"_6_Simplify_of_doing_business_for_companies\"><\/span><em>\u00a0<\/em><span style=\"color: #000080;\"><em>6. Simplify of doing business for companies<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"padding-left: 40px;\"><em>Clear listing of shares by Indian listed corporations within international jurisdiction. Pvt firms that issue non-convertible bonds (NCDs) on stock exchanges not to be considered as public entities.<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>All industries are now open to private parties<\/em><\/p>\n<h4><span class=\"ez-toc-section\" id=\"7_Fresh_Public_Sector_Business_Strategy\"><\/span><span style=\"color: #000080;\"><em>7. Fresh Public Sector Business Strategy<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"padding-left: 40px;\"><em>The Pvt sector will be able to invest in all markets, while public sector companies will continue to play a significant role.<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>A new policy that will categorize strategic sectors and others.<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>List of strategic sectors requiring the presence of PSEs in the public interest shall be notified.<\/em><\/p>\n<p><strong><em>A list of strategic sectors needing the participation of PSEs in the public interest will be identified.<\/em><\/strong><\/p>\n<p style=\"padding-left: 40px;\"><em>There will be at least one PSE in these strategic sectors, but the pvt sector will also be authorized.<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>PSEs should be privatized in other industries.<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>To reduce unnecessary operating expenses, the number of firms in key markets will usually be just three or four, while others will be privatized \/ mixed \/ brought under holding companies.<\/em><\/p>\n<h4><span class=\"ez-toc-section\" id=\"_8_Policy_management_and_services\"><\/span><em>\u00a0<\/em><span style=\"color: #000080;\"><em>8. Policy management and services<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"padding-left: 40px;\"><em>The Center has agreed to raise the State Borowing Limit from 3% to 5% for FY 21. This will provide extra Rs 4.28 lakh crore capital to states.<\/em><\/p>\n<h5><span class=\"ez-toc-section\" id=\"A_Part_of_the_loan_would_be_related_to_specific_reforms_The_relation_between_the_reforms_will_be_in_four_areas\"><\/span><span style=\"color: #000080;\"><em>A.\u00a0\u00a0 <\/em><em>Part of the loan would be related to specific reforms. The relation between the reforms will be in four areas: <\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p style=\"padding-left: 40px;\"><em>One Nation One Ration Card, <\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Ease of Doing Business, <\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Power distribution,<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>Urban local body revenues.<\/em><\/p>\n<h5><span class=\"ez-toc-section\" id=\"_B_The_Department_of_Spending_should_be_told_of_a_particular_scheme\"><\/span><em>\u00a0<\/em><span style=\"color: #000080;\"><em>B.\u00a0\u00a0 <\/em><em>The Department of Spending should be told of a particular scheme<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p style=\"padding-left: 40px;\"><em>Unconditional 0.50 % increase\u00a0<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>\u00a01% in 4 tranches of 0.25% for each tranche linked to specifically specified tangible &amp; feasible policy actions<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>0.5 per cent of targets reached in at least 3 of four improvement regions.<\/em><\/p>\n<p><strong>Popular Blog :\u00a0<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/carajput.com\/learn\/fresh-ibc-has-been-suspended-for-one-year-as-per-the-declaration-of-fm.html\">Suspension of Fresh IBC for 1 Year declared By FM<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/ibc-ordinance-2020-after-the-impact-covid-19-covid-period-defaults-cannot-be-triggered-by-cirp\/\">IBC ordinance 2020 after the impact covid-19 covid period defaults cannot be triggered by cirp<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/overviews-of-principles-of-avoidable-preferential-transactions-ibc-2016\/\">Overviews of Principles of Avoidable Preferential Transactions IBC-2016<\/a><\/li>\n<\/ul>\n<ul>\n<li><a href=\"https:\/\/carajput.com\/blog\/ibc-forms-insolvency-and-bankruptcy-code-2016-forms-demand-notices-returns\/\">IBC Forms Insolvency and Bankruptcy Code 2016 Forms Demand Notices Returns<\/a><\/li>\n<\/ul>\n<p><em>Post by <a href=\"https:\/\/carajput.com\/\">Rajput Jain &amp; Associates <\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Important Relevant updates on the reduction of compliance obligation under the Atmanirbhar Scheme: TODAY &#8216;S FIFTH AND LAST TRANCH OF ANNOUNCEMENTS FOCUS ON 8 SECTORS: 1. MGNREGA Scheme\u00a0 Total budget was Rs 61,000 crores The extra Rs 40,000 crores allotted 2. HEALTH&#8217;s Setting up the public system Block all districts to avoid infectious diseases Public &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9933],"tags":[8844,1699,8841,8839,8840,9202],"class_list":["post-6302","post","type-post","status-publish","format-standard","hentry","category-corporate-and-professional-updates","tag-covid-related-loans-should-be-exempt-from-default-under-ibc","tag-ease-of-doing-business","tag-fresh-ibc-has-been-suspended-for-one-year","tag-one-nation-one-ration-card","tag-simplify-of-doing-business-for-companies","tag-total-insolvency-requirement-lifted-from-rs-1-lakh-to-rs-1-crore"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.2 - aioseo.com -->\n\t<meta name=\"description\" content=\"atmanirbhar assam scheme, atmanirbhar scheme apply online, atmanirbhar bharat package loan scheme, 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