You are here: Home » Economy & Policy » News
Business Standard

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

Topics
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.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
199.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Amex/Master/VISA Credit Cards and VISA Debit Cards Only
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

Business Standard Digital
Subscribe Now and get 12 months Free

Business Standard Premium Digital - 12 Months + 12 Months Free
1799.00
subscribe
Subscribe for 12 months and get 12 months free.
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice -all Credit and Debit Cards, Net Banking, Payment Wallets, and UPI
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer's permission we will charge your card/ payment instrument each month automatically and renew your subscription.
  • In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
  • We do not Refund.
  • No Questions asked Cancellation Policy.
  • You can cancel future renewals anytime including immediately upon subscribing but 48 hours before your next renewal date.
  • Subject to the above, self cancel by visiting the "Manage My Account“ section after signing in OR Send an email request to assist@bsmail.in from your registered email address and by quoting your mobile number.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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