Finance minister Nirmala Sitharaman announced the next set of measures under the Atmanirbhar Bharat Abhiyan
New Delhi: PM Modi announced a Rs 20 lakh crore stimulus to revive the economy amid coronavirus lockdown on May 12. In its first instalment on Wednesday, finance minister Nirmala Sitharaman announced around a Rs 6 lakh crore package comprising Rs 3 lakh crore of collateral-free loans for small businesses and a Rs 30,000 crore lifeline for NBFCs along with many other schemes.
Today, in the second instalment, Sitharaman said the initiative focuses on migrant workers, street vendors, small traders, self-employed people, small farmers, which will be announced in 9 steps.
In a big relief to the migrants, Sitharaman announced the launch of the National Portability Cards (One Nation One Ration Card) which can be used in any ration shop in any part of the country as migrants move from state to state.
Besides, the FM said the government will give 5 kg of wheat or rice per person and 1 kg of channa per family for non-PDS card holders for two months which is going to cost the national exchequer Rs 3,500 crore.
Close to 8 crore migrants will benefit from this and the Centre will bear the cost. Rs 3,500 crore will be spent on this intervention, said Sitharaman.
She also said MGNREGA will support returning migrants. More than 14.6 crore MNREGA person days have been generated till yesterday, 40-50% higher compared to last May. Work has been offered to 2.33 crore wage seekers in 1.87 lakh gram panchayats, said Sitharaman.
PM Awas Yojna affordable rental housing complex:
The government will launch under PM Awas Yojna, affordable rental housing complexes for migrant workers/urban poor. This will convert government-funded housing in the cities into affordable rental housing complexes under the PPP model.
Liquidity provision of Rs 5,000 crore will be made by the government of India for special credit facility to 50 lakh street vendors. Initial working capital will be of up to Rs 10,000 per person. This will be launched within a month. Digital payments will be rewarded by further liquidity, the FM said.
Credit-linked subsidy scheme:
For middle-income group, for people between the income of Rs 6 lakh to Rs 18 lakh, the government has extended the credit-linked subsidy scheme up to March 2021; 2.5 lakh middle income families will benefit during 2020-21.
Jobs for tribals:
For tribals, Rs 6,000 crore CAMPA funds will be made available in tribal and adivasi areas: Sitharaman.
Kisan credit card:
Finance minister Nirmala Sitharaman announced a Rs 2 lakh crore concessional credit boost for farmers under the Kisan Credit Card scheme.
This is aimed at providing farmers access to institutional credit at concessional rates. Around 2.5 crore farmers are expected to benefit from this move, the finance minister said.
Last Updated 14, May 2020, 6:10 PM