Finance Minister Nirmala Sitharaman addressed the media today to announce the schemes as a part of the 20 lakh crore economic package announced by the Prime Minister to build a self-reliant India.
In today’s package, the Finance Minister announced 9 measures that concentrated on migrant laborers, street vendors, tribal people, marginalized farmers, self-employed and small traders. Before announcing, she says the government will bring in more measures for the farmers along with the ones announced today.
Before the Finance Minister announced the measures, she briefly explained the measures already taken by the government.
- Direct Support to farmers and rural economy provided post-COVID. 3 crore farmers having loans worth of 4.22 lakh crores availed the benefit of 3 months moratorium. 25 lakh new Kisan Credit Cards were sanctioned during the month of March-April. Interest subvention and prompt repayment incentive is extended to 31st
- Support for Migrants and Urban Poor during the last 2 months. The government of India permitted state governments to utilize the State Disaster Response Fund (SDRF) to set up shelter for migrants and provide them food and water. 7,200 new Self Help Groups of Urban poor have been formed since the 15th of March.
- MGNREGS support to migrants who are returning back to their states. 14.62 crore person-days of work generated till the 13th of May. Work has been offered to 2.33 crores in 1.87 lakh gram panchayats yesterday. The average wage rate rose to Rs. 202 from Rs. 182. Rs. 10,000 crores already spent.
- The universal right to minimum wages, benefits for interstate workers, mandatory ESIC coverage for employees working in hazardous activities, social security for the gig, and platform workers are in pipeline.
The measures announced today
- Free food grain supply to all migrants for the next two months. 5 Kg wheat or rice and 1 kg grains for a person who doesn’t possess cards. State governments to coordinate. 8 crore migrants to be benefitted. 3,500 crores to be spent for the measure.
- In order to benefit workers, national portability of the ration cards where ration cards can be used in any ration shops across the country. It is being called as One Nation One Ration. Within August, 67 crores beneficiaries expected to be covered. 100 percent coverage by March 2021.
- Government to launch affordable rental housing complexes in Prime Minister Awaaz Yojana for migrant workers and urban poor. Major government-funded housing to be converted to an affordable rental house.
- Mudra Shishu Loans to be benefitted with interest subvention support of 2 percent. 3 crore people to be benefitted.
- 50 lakh street vendors to avail special credit facilities with an initial capital of Rs. 10,000. This will amount to 5,000 crores.
- The government of India had given the lowest middle income group who gets 6-18 lakh annual income a credit-linked subsidy scheme that was already announced. The scheme has been extended up to March 2021. 3.33 lakh families have benefitted till now and another 2 lakh to get benefitted in the next year. This would boost the housing sector by 70,000 crore rupees.
- 6000 crore employment push using CAMPA funds that will create employment opportunities to tribal workers and people in semi-urban areas under Compensatory Afforestation Management & Planning Authority.
- The government is providing 30,000 crores additional emergency working capital fund through Nabard. This will be immediately released and will help during the post-harvest of ravi crop. This will benefit marginal and small farmers. This is likely to benefit 3 crore farmers.
- Nearly 2 lakh crores concessional credit boost for Kisan credit cards. This would benefit 2.5 lakh crore farmers. Fishermen and Animal Husbandry farmers also to be included in the scheme.