Govt rolls out packages for farmers & migrant workers. Govt says measures will empower the poor, migrant workers and farmers by ensuring credit facilities, food and social security for them.
Finance Minister Nirmala Sitharaman on Thursday said the second tranche of economic stimulus package will be for the benefit of migrant workers, street vendors and small farmers
At a press conference, she said 3 crore marginal farmers have already availed Rs 4 lakh crore of loans on concessional rates
Prime Minister Narendra Modi had on Tuesday announced a cumulative package of Rs 20 lakh crore (nearly 10 per cent of GDP) to provide relief to various segments of the economy. This included Rs 1.7 lakh crore package comprising of free foodgrains and cash to poor for three months announced in March, and Rs 5.6 lakh crore stimulus provided through various monetary policy measures by the Reserve Bank of India (RBI)
Finance Minister Smt. @nsitharaman today announced short term and long-term measures for supporting the poor, including migrants, farmers, tiny businesses and street vendors.
Read More➡️ https://t.co/3Yzv4e3fN6#AatmaNirbharBharatPackage#IndiaFightsCorona pic.twitter.com/V5sJAQqce3— Ministry of Finance 🇮🇳 #StayHome #StaySafe (@FinMinIndia) May 14, 2020
The remaining of the Rs 20 lakh crore package is being announced in tranches — Sitharman had in the first tranche on Wednesday unveiled a Rs 5.94 lakh crore plan that mostly comprises off-budget items such as Rs 3 lakh crore of credit line to small businesses as support to shadow banks and electricity distributors
Today’s announcements by FM @nsitharaman will especially benefit our farmers and migrant workers. The announcements include a series of progressive measures and will boost food security, credit to farmers as well as street vendors. #AatmaNirbharBharatPackage
— Narendra Modi (@narendramodi) May 14, 2020
Off-budget items do not result in any outgo from the government exchequer but these will aid in easing liquidity constrains for businesses once the lockdown is lifted.
