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Pradeep Singh

Union Finance Minister Nirmala Sitharaman on Thursday announced the 2nd tranche of the economic package and said that it will focus on migrant workers, street vendors, small traders and small farmers.

The Finance Minister announced free food grains for migrants, loan for 'Kisan Credit Card' holders, date extension of Mudra loans and affordable rental housing for migrants among others.

She also announced 'one nation, one ration card' system to allow national portability of ration cards for people who can now avail the benefits under the Public Distribution System (PDS) system wherever they are in the country.

FM Nirmala Sitharaman LIVE Key Points To Note

1. Interest subvention and prompt repayment incentive on crop loans, due from March 1, has been extended up to May 31, 2020.

2. Free foodgrain supplies to all migrants for the next two months. Non-card holders (mostly migrants) shall get 5 kg rice/wheat per person and 1 kg chana per family for the next two months.

3. State governments are allowed to utilise State Disaster Response Fund (SDRF) for setting up shelters for migrants and providing them food and water. Centre has released Rs 11,002 crore to augment SDRF.

4. Livelihood support to migrants through MGNREGS

5. Sitharaman has shared highlights of labour codes waiting in the Parliament and said the government's commitment lies in having them passed.

6. With an aim to benefit migrant workers, the government has introduced 'one nation one ration card' through which people can buy ration across at any ration depot in the country.

7. Government to launch Affordable Rental Housing for migrant workers/urban poor.

8. Sitharaman announced Rs 1500 crore interest subvention for MUDRA-Sishu Loans.

sitharaman

9. Special credit facility announced for street vendors. Government to support nearly 50 lakh street vendors with Rs 5000 crore- initial working capital support up to Rs 10,000.

sitharaman package

10. Credit linked subsidy scheme for middle-income group, having an annual income from Rs 6 to 18 lakh, extended till March 2021.

11. Use of CAMPA (Compensatory Afforestation Fund Act) Fund for Employment Generation. Sitharaman said that Rs 6000 crore will be approved shortly for employment generation.

12. To help post-harvest Rabi work, Rs 30,000 crore additional (on top of Rs 90,000 crore) emergency working capital fund through Nabard - refinance support to farmers announced.

13. A whopping 2 lakh crore of concessional credit to boost farming activities; 2.5 crore farmers to benefit.

kisan credit card

The FM said that the 'one nation, one ration card' policy will be rolled out 100 per cent by March 2021, and it will ensure people get ration in whichever corner of the country they may be.

In the first tranche of measures related to PM Modi's Rs 20 lakh crore Atmanirbhar Bharat package, Sitharaman had on Wednesday announced a host of fiscal and regulatory measures for MSMEs, Real Estate, NBFCs, EPF, and Discoms.

The announcements by the Finance Minister came two days after Prime Minister Narendra Modi announced a Rs 20 lakh-crore stimulus support to boost different sectors and help farmers and poor which have been facing a tough time during the nationwide lockdown to contain the spread of coronavirus pandemic.

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