India

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

ST Staff

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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