(Pooja Pal; Intern Journalist): On Wednesday, Sitharaman gave the details of the Modi government’s Rs 20 lakh crore economic package which incorporated Rs 30,000 crore Special Liquidity Scheme for non-banking monetary companies, micro-finance companies, housing finance companies; Rs 45,000 crore liquidity infusion through a semi Credit Guarantee plan 2.0 for NBFCs.
FM Nirmala Sitharaman on Thursday addressed the media to present other details of Rs 20 lakh crore economic package announced by PM Modi while addressing the nation on Tuesday. It was the second consecutive day when the FM provided further facts regarding the package which covered assorted sectors.
On Wednesday, Sitharaman laid out facts of Modi government’s Rs 20 lakh crore package which incorporated Rs 30,000 crore Special Liquidity proposal for non-banking monetary companies, microfinance companies, housing finance companies; Rs 45,000 crore liquidity infusion through a semi-credit ensure scheme 2.0 for NBFCs.
Sitharaman on 2nd tranche of monetary incentive package:
•Rs 30,000 crores add-on crisis working capital funding via NABARD; aid to 3 crore farmers.
•Rs 2 lakh crore concessional credit boost to 2.5 crore farmers via Kisan Credit Cards.
•To initiate appointment opportunities for tribals /Adivasis -plans appeal Rs 6000 crores to be accepted in a while under Compensatory Afforestation Management & Planning Authority (CAMPA) Funds.
•NABARD to enlarge further re-finance aid of Rs 30,000 crores for crop credit needs of Rural Co-op banks and RRBs.
•Government to proffer the Credit Linked Subsidy Scheme (CLSS) for a middle-income segment (annual pay Rs 6-18 lakhs) up to March 2021; 2.5 lakh middle-income families to aid during 2020-21.
•Government to reinforce about 50 lakh local vendors with Rs 5000 crore Special Credit Facility.
•Government of India will grant interest subvention of 2% for hasty MUDRA-Shishu Loans payees for a tenure of 12 months; MUDRA-Shishu debt payees to be relieved by Rs 1500 crores.
•Govt to launch a scheme for reasonable rental housing for drifting workers/urban needy to aid their life by converting government-funded housing in cities into reasonable Rental Housing Complexes (ARHC) under PPP form through the concessionaire.
•One Nation One Ration Card will be implemented- 67 crore beneficiaries in 23 states casing 83% of the PDS populace will be roofed by national portability by August 2020.
•Free rations to be delivered to each migrant for the next 2 months. For non-card holders, they shall be prearranged 5kg wheat/rice for each & 1 kg chana for each family/month for 2 months. 8 crore migrants to be benefitted- Rs 3500 crores to be utilized on this.
•12,000 self-help groups (SHGs) have made more than 3 crore masks and about 1.2 liters of sanitizers during the #COVID19 period. 7,200 new SHGs for metropolitan poor have been formed in the past 2 months.
•14.62 crore person-days of the product till 13th May has already been generated, which is 40-50% supplementary people enrolled as compared to previous May. Migrant staff leaving for their states being actively enrolled.
•Govt has allowable state governments to make use of SDRF for preparing shelter for migrants & providing them food & water etc. The Government is conscious, and is attending to the migrants and providing them assorted ways.
•Interest subvention and on time refund incentive on crop loans due from 1st March has been unmitigated to 31st May.
•Nine steps were announced yesterday:
- 3 will be announced for drifting laborers.
- 1 for Shishu loan under MUDRA.
- 1 for lane vendors.
- 1 for housing.
- 1 for employment generations fundamentally for ADIVASIS.
- 2 for small-scale farmers.
•This tranche focuses on nomad laborers, petite traders, and small-scale farmers, says FM Sitharaman.
Since March 24, India is in lockdown to prevent the spread of novel coronavirus. The lockdown has afflicted various businesses and many have been slammed down. Since March 24, lockdown in the country has been extended twice and is anticipated to extend after May 17 as well.
On Tuesday, the Prime Minister while addressing the nation, alleged the extension of Lockdown as LOCKDOWN 4.0 which would be completely anonymous from the previous ones; details of which would be announced before May 18.