Second part of Central Govt financial package mainly focuses on migrant workers and farmers

Finance Minister Nirmala Sitharaman has announced the second tranche of the Rs. 20 lakh crore ‘Atmanirbhar Bharat Abhiyan’ package with a focus on migrant workers, street vendors and small farmers. The announcement has come  a day after unveiling a set of 15 relief measures related to MSMEs, NBFCs, real estate sector, etc. It was Prime Minister Narendra Modi who declared in his address to the nation that Sitharaman would release details of the economic package, aimed at making India self-reliant (Aatma Nirbhar Abhiyan), over the next few days.

From the Rs 20 lakh crore, measures worth 15.57 lakh crore have now been announced, including the Rs 7.09 lakh worth of stimuli which was unveiled by the Reserve Bank of India and the finance ministry in the early days of lockdown.

Highlights of today’s announcements:

• Free food grain supply for two months for those migrants that are neither covered under National Food Security Act, 2013 or hold a state beneficiary card.
• Technology systems being put into place to enable usage of ration cards for procuring food at any fair price shop in India.
• Will launch a scheme for providing affordable rental housing accomodation for migrant labourers and urban poor.
• Interest subvention of 2 percent for 12 months on MUDRA-Shishu loans—that are below Rs 50,000.
• Special loans of up to Rs 10,000 to provide working capital for street vendors to restart business.
• Extending credit-linked subsidy scheme—that subsidizes interest rates on affordable home loans—for middle-income families till March 2021.
• Government will use CAMPA funds of Rs 6,000 crore to push employment.
• Additional Rs 30,000 crore to be provided for crop loans through NABARD.
• Concessional credit of up to Rs 2 lakh crore for Kisan Credit Card holders.
• -Everyday 300 Shramik special trains can run: Sitharaman
• -Fishermen and animal husbandry farmers will be included in Kisan credit card scheme
• -Kisan credit cards: ₹2 lakh crore of concessional credit boost to 2.5 crore farmers
• – ₹30,000 crore additional emergency fund through NABARD for farmers: FM
• – ₹6000 crore employment push using CAMPA funds for tribals
• -For the lower strung of the middle class earning ₹6-18 lakh annual income, the govt will extend the CLSS scheme for affordable housing till March 2021.
• -Special credit facility of about ₹500 crore for street vendors. The scheme will be launched within a month. There are 50 lakh street vendors: Sitharaman
• – ₹1500 crore interest subvention for MUDRA-Sishu loans
• -Govt to launch a scheme for affordable rental housing for migrant workers/urban poor to provide ease of living by converting govt funded housing in cities into Affordable Rental Housing Complexes (ARHC) under PPP mode through concessionaire: FM Nirmala Sitharaman
• -FM announces concessional rental housing complexes for migrant workers
• -8 crore non-PDS card holders will get 5 kg of grains per person: FM.
• -All occupations should be open for women, with provision for night working rights and adequate safeguards: FM
• -Ration cards portability to be introduced. ‘One nation, one ration card’ will be implemented within August. Ration cards would be used anywhere in India
• -Without cards also the workers can get the grains: FM
• -8 crore migrant workers will benefit
• -Free food grain supply to all migrant workers: FM
• -12,000 self-help groups (SHGs) have produced more than 3 crore masks and 1.2 lakh litres of sanitizers during #COVID19 period. 7,200 new SHGs for urban poor have been formed during the last two months: FM Nirmala Sitharaman
• -Social security measures to be extended to gig workers: FM
• -Regional disparity in minimum wages to be removed
• -Minimum wages to be made universally to all workers: FM
• -States have been advised to give work to labourers under MNREGA
• -We have generated 14.6 crore mandays upto 13th May. The figure is 40-50% more persons enrolled.
• -There has some legitimate concerns around migrant labourers: FM
• -FM lists out steps taken to support migrants and urban poor during the last 2 months.
• -Interest subvention and prompt repayment incentive on crop loans due from 1st March has been extended to 31st May: FM Nirmala Sitharaman
• – ₹29,500 crore loans refinanced by NABARD: FM
• -3 lakh loans have been approved between March and April: Sitharaman
• -Today’s announcements will be focused on relief for migrant workers, street vendors and small farmers.
• -“If we do not speak about a certain component today, it does not mean that the government has forgotten about any particular segment, more initiatives are being announced,” Sitharaman said.
• -9 steps to be announced today relating to migrant workers, street vendors, housing, employment generation in tribal pockets and farmers.