- PM Modi reviews power sector, says state-specific solutions needed
- After Fitch and CRISIL, S&P projects Indian economy to contract 5% in FY21
- Top 10 biz headlines: Boeing cuts 12,000 jobs, SBI slashes FD rate and more
- UCO Bank slashes lending rate by 40 basis points, MSME loans to get cheaper
- Telangana govt to pay 50% salary to staff for third consecutive month
- Labour pains: Thane's MSMEs operating at 10-15% capacity amid lockdown
- Punjab approves reforms to avail additional borrowing of 1.5% of GSDP
- Indian economy may expand by around 5% in FY22: Ex-RBI governor Subbarao
- States tighten locust control measures as pest gives Delhi a miss for now
- India's Q1 GDP may contract 40%, states to lose Rs 30 trillion: Report
FM Sitharaman LIVE: Hope states fall in line with new reforms, says CII
The Finance Minister had on Thursday announced Rs 3.16 trillion support for vulnerable sections, including migrant workers, farmers, tribals, street vendors - all hit hard by locdown
A labourer piles up wheat grain at the New Grain Market as its procurement is picking up, amid ongoing Covid-19 lockdown. Photo: PTI
Finance Minister Nirmala Sitharaman on Friday unveiled the third set of stimulus focussing on agriculture and allied activities — dairy, fisheries, food processing, animal husbandry. The announcements is part of Rs 20 trillion fiscal and monetary package announced by Prime Minister Narendra Modi to support the economy battered by the coronavirus pandemic.
The Finance Minister had on Thursday announced Rs 3.16 trillion support for vulnerable sections, including migrant workers, farmers, tribals, street vendors, and the middle class — all hit hard by the lockdown. Three of the nine measures announced on Thursday were targeted at migrant labourers, who have been bearing the brunt of the lockdown. To enable migrants to get concessional food items through ration shops, the finance minister announced a one-nation-one-ration card scheme that would cover 83 per cent of workers who have ration cards or 670 million beneficiaries by August this year.
Sitharaman had on Wednesday announced measures of nearly Rs 5.94 trillion to provide relief to small businesses, taxpayers, shadow banks, power distribution companies, real estate, organised sector employees, and contractors working with the government. The announcements were aimed at micro, small, and medium enterprises (MSME).