For implementing the Prime Minister Narendra Modi’s strategy for the Aatmanirbhar Bharat second tranche of financial stimulas was presented by the Finance Minister Niramala Sitharaman today. Yesterday the Finance Minister had made major announcements regarding, MSME, NBFC, TDS, TCS etc.
Today the focus of FM was on migrant workers, street traders, small farmers, housing, urban poor etc.
HIGHLIGHTS OF TODAYS ANNOUNCEMENT
Free food grain (5 kg wheat / rice per person + 1kg Chana per family ) to Migrants who are non card holders (Not under food security Act) also for next two months. Provision for Rs 3500 crore made. About 8 crore migrants are expected to benefit.
National portability of the ration card. One Nation One Ration Card to be implemented by which ration can be availed from any ration shop across India. Ensuring 100% coverage of national portability by March, 2021.
Affordable rental accommodation for migrant labor and urban poor. Incentivising construction of affordable rental housing. Already built houses under PM Awas yojna can be used. Can be built on PPP mode through concessionaire agreements.
Shishu loans (Rs 50,000 or less) under Mudra. RBI gave 3 month moratorium. Now announcment made for them to pay in time get 2% interest subvention support for next 12 months. To Relief about Rs 3 cr beneficiaries of Rs 1500 crore.
Street vendors given a special credit facility under a special scheme will be launched. 50 lakh street vendors will be able to avail Initial working capital Rs 10,000/-. Total allocation Rs 5000 cr.
Lowest starta of middle income group ( 6 lakh to 18 lakh annual income). Credit linked subsidy scheme extended by one year till March, 2021. 2.65 lakh more people will benefit from this and they can purchase affordable houses. Will encourage construction activity and increase from demand side. Total investment from this excepted to be Rs 70,000 crore.
Employment generation: Campa funds lying in States being given a push. It will generate employment for adivasis and tribals for forestry related work Immediate create lot of jobs. Plans worth Rs 6000 cr will be approved shortly.
Farmers: NABARD will extend additional Rs 30000 cr refinance support for crop loan requirement of Rural Co-op Banks and RRBs. To be immediately released to reach directly the rural and small and marginal farmers. This is over and above Rs 90,000 cr. Will Benefit 3 crore farmers.
Reaching farmers not having Kisan credit credits. To provide this facility to further 2.50 cr farmer for providing them Rs 2 lakh crore concessional rate credit. Fisherman and animal husbandry will also be included in Kisan Credit facility.
The presentation made by FM is attached below for ready reference.
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