On Thursday, Finance Minister Nirmala Sitharaman announced the second tranche of Modi government’s “Atmanirbhar Bharat Abhiyan” package deal worth Rs 20 lakh crores to restart the economy following the coronavirus lockdown.

Finance Minister Nirmala Sitharaman had introduced comprehensive remedy measures on Wednesday to aid various sectors which includes Micro, Small and Medium Enterprises, Discoms, NBFCs, Micro Insurance Institutions, etc. The Modi authorities had additionally announced diverse alleviation measures for real estate sectors and additionally extended closing dates for numerous taxpayers.

The Finance Minister Sitharaman had said the announcements may be made in lots of tranches.

Second tranche of announcements underneath “Atmanirbhar Bharat Abhiyan” monetary package
Finance Minister Sitharaman on Thursday stated that the second tranche could be regarding migrant employees, road vendors, housing, employment era for tribals and small farmers. A total of 9 steps could be announced these days, she delivered.

The Finance Minister also stated that the Modi authorities, inside hours of saying Lockdown 1.0, had give you the PM Gareeb Kalyan Yojana, to provide money and meals to the negative. “This won’t be the final one though, we can also come lower back and announce more”, clarified Finance Minister.

Relief for Farmers and Rural Economy
These farmers, who availed the loans through the RBI, were first of all given an hobby moratorium of 3 months, which has now been extended until May 31, 2020.

25 lakh new Kisan credit score cards holders have been sanctioned with a mortgage restrict of Rs 25,000 crore, delivered Sitharaman. She delivered that Interest Subvention and Prompt Repayment Incentive on crop loans, due from March 1, has been prolonged as much as May 31 2020.

Image Source: PIB
Finance Minister additionally announced extra liquidity assist for farmers and rural economy. FM Sitharaman said that sixty three lakh loans really worth Rs 86,000 crore have been permitted and refinancing of Rs 29,500 crore has been provided by means of NABARD to cooperative and rural banks in March.

She brought that more than 6,000 crores have been supplied to country corporations for agricultural procurement. Support of Rs 4,2 hundred crore supplied beneath Rural Infrastructure Development Fund to states at some stage in March 2020 for rural infrastructure, she announced.

The Modi government additionally sanctioned operating capital limit of Rs 6,seven hundred crore for procurement of agriculture produce to nation authorities entities.

Image Source: PIB
Support for Urban negative
To attain out to the city poor, the Modi authorities has approved states to utilise the State Disaster Response Fund (SDRF) to installation shelters for migrant labourers and provide them meals and water, stated Finance Minister.

“At least Rs eleven,000 crore became despatched for this purpose. We are looking after them,” said FM Nirmala Sitharaman.

The crucial government has supported self-help corporations, which have produced 3 crore mask, 1.20 lakh litres for sanitizers. FM Sitharaman also said that the Modi authorities has supplied employment opportunities to the urban bad thru SHGs. Further, 7,two hundred new SHG have been shaped seeing that March 15, 2020 to generate employment, she introduced.

Image Source: PIB
Relief for Migrants
Finance Minister said that the Modi authorities is assisting migrant labourers who have again to their home states by creating work beneath the MNREGA. She added that the authorities is making plans plans to continue MGNREGA work at some stage in the monsoon – plantations, horticulture, cattle-related work.

“For migrants who’re going back domestic, we’ve got generated 14.Sixty two crore individual-days of work, that’s forty-50% extra than before the coronavirus lockdown. We have enrolled them 2.33 crore salary seekers in 1.87 lakh gram panchayats who via MGNREGA will get enrolled and get jobs. They could be actively engaged, annual expenditure is Rs 10,000 crore, we will offer for more if wished,” said Finance Minister Sitharaman.

Average salary rate rose to Rs 202 from Rs 182 in last Financial Year, said Finance Minister. FM Sitharaman also said that a force being undertaken to enrol returning migrant.

Image Source: PIB
Finance Minister said that migrants who’re neither NFSA or nation card beneficiaries in the kingdom they’re stationed will be provided 5 kg of grains in line with individual and 1 kg chana according to family consistent with months for two months. The government has allotted Rs three,500 crores allotted to eight crore migrants.

This could be accomplished via the states, that are conscious wherein the migrant people are currently staying, delivered Finance Minister.

Leave a Reply

Your email address will not be published. Required fields are marked *