Nirmala Sitharaman speech highlights: Second tranche has relief for migrant workers and small farmers

ST Staff
Thursday, 14 May 2020

Following are the highlights of the second tranche of the package declared by Finance Minister Nirmala Sitharaman.

Finance Minister Nirmala Sitharaman on Thursday declared the second part of a coronavirus stimulus package of Rs 20 lakh crore intended at the street vendors, small farmers, affordable housing and migrant workers. The Minister said, “There is a legitimate concern about migrants returning to their home states We are attending to migrants, we are not boasting.”

Following are the highlights of the second tranche of the package.

  • 3 crore farmers with loans of over Rs 4 lakh crore availed the benefit of 3-months moratorium.
  • 25 lakh new Kisan Credit Cards sanctioned with a loan limit of Rs 25,000 crore.
  • Rs 2 lakh crore concessional credit boost to 2.5 crore farmers through Kisan Credit Cards.
  • Rs 86,600 crore loans approved for 63 lakh farmers in March and April.
  • Support of Rs 4,200 crore provided to states under RIDF during March for developing rural infra.
  • Rs 30,000 crore additional emergency working capital fund to be provided by NABARD.
  • Rs 10,000 crore spending towards payment of wages under MNREGA till May 13.
  • Enrollment drive being undertaken for returning migrants.
  • Free foodgrain supply to about 8 crore migrants for 2 months; entailing spending of Rs 3,500 crore.
  • States as implementing agency to provide 5 kg grains per person and 1 kg chana per family per month.
  • 'One Nation One Ration Card' to be implemented by March 2021; migrants to access any PDS shop anywhere.
  • Government to launch Affordable Rental Housing Complexes for migrant and urban poor under PMAY. 
  • Relief of Rs 1,500 crore through 2 per cent interest subvention for prompt repayment of MUDRA Shishu loan up to Rs 50,000.
  • Rs 5,000 crore Special Credit Facility for 50 lakh street vendors with an initial working capital of Rs 10,000.
  • Rs 6,000 crore Compensatory Afforestation Management & Planning Authority (CAMPA) fund for job creation. 
  • Credit-linked subsidy scheme for affordable housing for middle-class families extended till March 2021; resulting in over Rs 70,000 crore boost for the housing sector.

(With inputs from PTI)

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