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Finance minister Nirmala Sitaraman releases second instalment of 20 lakh crore economic relief package of Atma Nirbhar Bharat. This instalment mainly focuses on farmers, migrant labourers and street vendors.
Here’s a comprehensive list of the economic relief measures announced by the finance ministry including the package announced on 14 may 2020
- Government to extend the Credit Linked Subsidy Scheme (CLSS) up to March 2021; 2.5 lakhs middle income families to benefit during 2020-21
Support for Migrant and Urban Poor during last two months:
- 12,000 SHGs have produced more than 3 crore masks and 1.2 lakh litres of sanitizers during the COVID19 period
- Revolving funds are being provided to SHGs through PAISA portal
- 7,200 new SHGs for urban poor have been formed during the last two months
- 11,000 crore given to states for taking care of migrant workers and others
- 3 meals per day for urban homeless, entirely at expense of central govt.
- Central Government released 11002 crore of its contribution in advance to all States on 3rd April
MANREGA supports to 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
- Returning Migrant workers will be gainfully engaged
- 62 crore person-days of work generated till 13th May 2020
- Actual Expenditure till date is around 10,000 Cr
Liquidity Support to Farmers and Rural Economy provided post COVID19
- 63 lakh loans worth ₹ 86,000 crore approved in agricultural area, in just two months, March and April 2020.
- 29,500 crore refinanced by NABARD in March alone
- FM notes how govt. has been working to put money in hands of farmers during COVID19
- Interest subvention for loans to farmers, normally given for prompt repayment, further extended to May 31, 2020
- 3 crore marginal farmers had received loans worth ₹ 4 lakh crore at low rates. They were also given a moratorium by RBI
- 25 lakh new Kisan Credit Card sanctioned with a loan limit of Rs. 25000 Crore.
Liquidity Support to Farmers & Rural Economy
- 63 lakh loans of 86,600 Crore approved in agriculture between 01st March 2020 to 30th April 2020
- Refinancing of 29,500 crore provided by NABARD to Cooperative Banks & Regional Rural Banks in March, 2020.
- Working Capital limit of 6700 Crore sanctioned for Procurement of Agricultural Produce to State Government Entities Since March, 2020
- Support of 4200 Crore Provided under Rural Infrastructure Development Fund to State during March 2020
Support for Migrants & Urban Poor
- Central Government released 11002 crore of its contribution in advance to all States on 3rd April
Migrant Workers
- Free Food grain supply to Migrants for 2 months
- Black small square provided to about 8 crore migrants to benefit from this
- Black small square 3500 Crore will be spent on this intervention for 2 months:
Free Food Supply
- Free food grain to be supplied to around 8 crore migrants for 2 months
- Those who do not hold central / state ration cards will be given 5 kg of rice/wheat and 1 kg of chana for next two months
- 3,500 crore cost to be borne by Central Govt.
One Nation One Ration Card
- PDS ration cards to be portable across India, can be used in any part of the country
- 67 crore beneficiaries – 83% of all PDS population – to be covered by this
- 100% coverage by Mar 2021
Government to support nearly 50 lakh street vendors
- 5000 crore Special Credit Facility for Street Vendors;
- Initial Working Capital up to 10000
Mudra Shishu Loan
- Government of India will provide Interest subvention of 2% for prompt #MUDRA-Shishu Loans payees for a period of 12 months
- Relief of 1500 crore to MUDRA-Shishu loans
Compensatory Afforestation Management & Planning Authority (CAMPA) Funds to create job opportunities for Tribals /Adivasis -Plans worth 6000 crore to be approved shortly Rs 2 lakh crore concessional credit will be initiated that will benefit 2.5 crore farmers.
