Published 19:36 IST, May 14th 2020
PM Modi emphasises food security to farmers, vendors via Centre's 2nd economic tranche
Hailing the Centre's second set of announcements to help boost the economy, PM Narendra Modi, on Thursday, said that it will benefit farmers and migrants
Hailing the Centre's second set of announcements to help boost the economy, PM Narendra Modi, on Thursday, said that it will benefit farmers and migrant workers. He added that the measures will boost food security, credit to farmers and street vendors. These announcements are a part of the PM's declaration to make a 'self-reliant' India, amid Coronavirus (COVID-19) crisis.
PM Modi hails 2nd economic tranche
FM's 9 key announcements
Earlier in the day, Finance Minister Nirmala Sitharaman, announced nine measures to aid migrant workers, street vendors, small farmers, self-employed people by rolling out free food grains, nationalised ration card, affordable rental housing for urban poor - all aimed at India's migrant population. She also announced interest reduction for Shishu loans under MUDRA, credit facility for street vendors, extended affordable housing scheme till March 2021. Apart from these, she announced an employment scheme for tribals using CAMPA funds, Emergency working capital fund via NABARD, and Rs. 2 lakh crore concessional credit boost for farmers.
PM Modi's Rs 20.lakh crore booster
On Tuesday, PM Modi announced a Rs 20 lakh crore economic package - including the previous menetary package and the liquidity measures announced by RBI till date (amounting to 10.26 lakh crore) to kickstart Indian economy's growth. Following the Prime Minister's announcement of a self-reliant India, FM Sitharaman on Wednesday announced reforms that involved 3 lakh crore collateral-free automatic loans for businesses, Rs. 50,000 crore equity infusion through MSME Fund, redefining 'MSME', disallowing global tenders upto Rs 200 crores, Rs.30,000 crore liquidity facility for NBFCs/HFCs/MFIs, Rs.90,000 crore liquidity injection for DISCOMs among a few. The next slew of announcements is scheduled in the coming few days, before Lockdown 4.0 is imposed on May 18.
Updated 19:36 IST, May 14th 2020