Nirmala Sitharaman declares 2nd tranche of govt’s Rs 20 lakh crore stimulus package: Key points

NEW DELHI: Union finance minister

Nirmala Sitharaman

on Thursday unveiled the 2nd tranche of measures of the authorities’s “atmanirbhar (self-reliant) marketing campaign”. With a inquire of to revive the economy shuttered by the coronavirus lockdown, PM

Narendra Modi

had announced a Rs 20 lakh crore special

financial package


In its first instalment on Wednesday, Sitharaman had announced Rs 3 lakh crore collateral-free automatic loans for agencies, including MSMEs, as smartly as Rs 30,000 crore liquidity facility for NBFCs, among varied measures.

Listed right here are the main points from the finance ministers’ address:

* Authorities extends Rs 30,000 crore extra emergency credit toughen for farmers and around 3 crore farmers will earnings from this.

* The centre will provide free foodgrains to all migrants for the subsequent 2 months. Non-card holders (migrants without NFSA or exclaim card beneficiaries) will be given 5 kg of rice/wheat and 1 kg of chana per household for 2 months.

This can earnings about 8 crore migrants and central authorities will endure your total label of Rs 3,500 crore.

* Public distribution ration cards is more likely to be utilized in any ration stores without reference to the states. ‘One nation one ration card’ will be implemented and we guarantee 100% of nationwide portability of those cards by March 31, 2021.

* We comprise already generated 14.62 crore particular person-days of work except Might well well 13, which is 40-50% more persons enrolled as when put next with last Might well well. Migrant employees going assist to their states are being actively enrolled in MGNREGA.

* Rs 5,000 crore special credit facility has been given to facet road vendors. Initial working capital of Rs 10,000 will be offered to them.

* Digital payments will be incentivised for facet road vendors thru monetary rewards and enhanced working capital credit.

* We’re making an are trying to provide lower strata of the heart class neighborhood who operate as a lot as Rs 6 to Rs 18 lakh annual earnings. A credit linked subsidy blueprint turned into as soon as introduced by govt 2017 and turned into as soon as to discontinue in March 2020, it is being prolonged as a lot as March 2021 and over 3.3 lakh households which benefited except now, will now comprise every other 2.5 lakh of us can earnings for cheap housing. This can spur job introduction as ask for steel, construction materials will expand.

* Ardour subvention toughen of two% in case you comprise availed loans below Mudra Shishu mortgage (Rs 50,000 or less) will be given after 3 month moratorium duration ends. This might occasionally presumably presumably comprise earnings over 3 crore of us below the shishu class.

* Authorities has permitted exclaim governments to utilise SDRF for constructing refuge for migrants and offering them food, water. We’re conscious, we’re attending to the migrants and giving them in varied varied suggestions.

* Authorities will open a blueprint for cheap condominium housing for migrant employees/urban miserable to provide ease of living by converting authorities funded housing in cities into Cheap Condominium Housing Complexes (ARHC) below PPP mode thru concessionaire.

* 12,000 self-relieve groups comprise produced 3 crore masks and 1.2 lakh litre of sanitizers, thereby offering extra employment alternative to the urban miserable.

* Ardour subvention for loans to farmers and urged compensation incentives on prick loans due from March 1 has been prolonged to Might well well 31, 2020.

* 25 lakh new Kisan Credit score Playing cards had been sanctioned with a mortgage limit of Rs 25,000 crore.

* 7,200 new SHG groups had been formed for the urban miserable.

* We’re proposing a nationwide flooring-wise wage rate so that uniform wage rate prevails throughout states.

* We’re making an are trying to elongate ESIC advantages to all establishments, especially those with lower than 10 employees.

* At the present time’s initiative specializes in migrant employees, facet road vendors, diminutive traders, self-employed of us, diminutive farmers- in all 9 steps to be announced.

* Authorities now not sitting, doing things for those on the margins.

* Amongst the 9 measures — 3 are associated to migrant employees, 1 for facet road vendors, diminutive traders, self-employed of us, 2 on diminutive farmers 1 on housing.

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