New Delhi: Soon after Union Finance Minister Nirmala Sitharaman presented her fifth and final phase of the economic package of Rs 20 lakh crore, Prime Minister Narendra Modi on Sunday said the measures and reforms announced by FM Sitharaman will have a transformative impact on the health and education sectors. He also went on to say that the economic stimulus will boost entrepreneurship, help public sector units and revitalise the village economy. Also Read - Final Instalment of Rs 500 to Women Jan Dhan Account Holders From Friday: Finance Ministry

“The measures and reforms announced by the FM today will have a transformative impact on our health and education sectors. They will boost entrepreneurship, help public sector units and revitalise the village economy. Reform trajectories of the states will also get an impetus,” PM Modi said. Also Read - Ladakh Standoff: These Masterstrokes of PM Modi Frighten China

On the other hand, Union Home Minister Amit Shah said the announcement of the fifth and final tranche of an economic package by FM Sitharaman will go a long way in realising the idea of a self-reliant India.

Taking to Twitter, Amit Shah said the additional allocation of Rs 40,000 crore under MGNREGS will help in generating employment for the poor and migrant workers and create durable livelihood assets, which will greatly boost the country’s rural economy and infrastructure.

“Today’s announcements by Modi government will go a long way in realising the idea of AtmaNirbhar Bharat. These steps will prove to be a game-changer for health, education and business sectors, which will provide employment to crores of poor. I thank PM @narendramodi & FM @nsitharaman,” he said.

Shah further said that while Prime Minister Modi’s leadership in handling COVID-19 has outshined several developed nations, he has resolved to prepare India for any such pandemic in the future, by strengthening and revamping India’s health sector.

The Home Minister said the Modi government has decided to increase India’s health expenditure to create infectious diseases hospital blocks in every district, strengthening laboratories network and surveillance and encouraging research.

Praising the Centre’s decision, Shah said the central government has decided to increase borrowing limit of states, which will give them an extra resource of Rs 4.28 lakh crore.

He said the Centre had previously given Rs 46,038 crore through devolution of taxes in April, revenue deficit grants of Rs 12,390 crore and State Disaster Response Funds to the tune of Rs 11,000 crore.

The statement from PM Modi and HM Shah came soon after Finance Minister Nirmala Sitharaman announced plans to privatise PSUs in non-strategic sectors and suspend loan default-triggered bankruptcy filings for one year.

The FM also a Rs 40,000-crore hike in allocation for the rural employment guarantee scheme to provide jobs to migrant workers.

Apart from this, the FM also raised the threshold of insolvency proceedings to help the industry deal with COVID-19 pains. She further announced a new policy for companies under state control, saying PSUs in non-strategic sectors will be privatised while those in the identified strategic sector would be capped at four with the rest to be merged or sold.