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All 9 Steps FM Nirmala Sitharaman announced in second tranche

Listen to the podcast to know about all the nine measures Finance Minister announced today

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Nirmala Sitharaman | Finance minister | Lockdown

Sukanya Roy  |  New Delhi 

Today, announced a second set of measures as part of the 'Atma-nirbhar Bharat Mission' economic package. The second set of announcements focus on migrant workers, street vendors, small farmers, self-employed individuals.

First she spoke about 3 steps for migrants workers

1. Free supply to all migrant workers, even non-card holders, for the next two months — 5 kg wheat/rice/1 kg chana. And for this Rs 3,500 crore will be spent over the next 2 months. State govts will be implementing agency for this. 80 million to benefit by the initiative

2. Then she announced National portability of ration cards.'One nation, one ration card' to be implemented and 100% coverage will be done by March 2021. In 23 states, 67 million will be benefited from this. (83% of all PDS beneficiaries) already covered

3. Affordable rental accommodation for migrant workers/urban poor. This is a special scheme for rental housing under Pradhan Mantri Aawas Yojana. this is incentivising manufacturing units to build affordable rental housing complexes. This will also convert govt-funded houses into rental housing complexes. And the scheme will be implemented on PPP model via concessionaire arrangements.

said Rs 10,000 crore worth of steps were taken so far this year for generating work for migrant labourers in 187,000 gram panchayats

4. Next is about the steps taken under Mudra Shishu Loans (Rs 50,000 or less)

Interest subvention support of 2% for 12 months at the cost of Rs 1,500 crore. So far, Rs 1,62,000 crore given out under this type of loan. 30 million people to benefit by this

5. Fifth measure is for 50 lakh street vendors

Each Street vendors will be able to avail Rs 10,000 loan from Rs 5,000 crore special credit facility once the is lifted. And those making repayments through the digital mode to get additional benefit

6. Next are the few steps announced for Housing

Credit-linked affordable housing subsidy scheme provided for the middle income group (that is the the lowest strata... with Rs 6 lakh to Rs 18 lakh annual income). Well, this was started in 2017 and now extended to March 31, 2021. This is a Rs 70,000-crore scheme to spur job creations and demand for construction material is expected to improve with this. 330,000 families have benefitted from this scheme so far and now another 250,000 more to benefit

7. Seventh sets of measures are for employment generation

Rs 6,000-crore CAMPA funds to be used for afforestation and similar projects. These Proposals have come from states, FM said. This aims to generate employment for tribal and rural people

8. Next She announced steps for farmers

Rs 30,000-cr working capital facility is provided to them, in addition to the Rs 90,000 crore already provided by Nabard. States will be given this fund via SSBs, RRBs. FM said that these Funds will be released immediately for post-rabi harvest work and kharif preparation of small and marginal farmers. Well, 30 million farmers to benefit by this

9. Last measure is about credit for farmers

Rs 2 trillion worth of concessional credit to be extended to 25 million farmers. This will be provided through Kisan credit cards. Animal husbandry and fisheries will also be eligible for this scheme.

First Published: Thu, May 14 2020. 19:10 IST
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