A day after announcing a slew of relief package for the Micro, Small and Medium Enterprises, real Estate and NBFC, Finance Minister of India Nirmala Sitharaman on May 14 announced the second set of measures to ameliorate the hardships faced by migrant labours, street vendors, migrant urban poor, small traders self-employed people and small farmers.
This is part of the 20 lakh crore economic package announced by Prime Minister Narendra Modi in fighting coronavirus pandemic and achieving the mission of a self-reliant ‘Aatmanirbhar Bharat’.
Addressing a press conference, the Finance Minister pointed out that farmers and workers were the backbone of the nation and the farmers needed timely and adequate credit support. Migrant workers need affordable and convenient rental housing in urban areas in addition to social security. There is also a need to create employment opportunities for the poor, including migrant and unorganised workers. Farmers need timely and adequate credit support, she added.
Some of the Key announcements made
- Rs 2 lakh crore concessional credit boost to 2.5 crore farmers under Kisan Credit Card Scheme
- Rs 30,000 crore Additional Emergency Working Capital for farmers through NABARD
• Rs 6,000 crore for Creating employment using CAMPA funds
• Rs70,000 crore boost to housing sector and middle income group through extension of Credit Linked Subsidy Scheme for MIG under PMAY(Urban)
• Rs 5000 crore Credit facility for Street Vendors.
• Scheme for Affordable Rental Housing Complexes for Migrant Workers and Urban Poor to be launched
• 2% Interest Subvention for 12 months for Shishu MUDRA loanees- Relief of Rs. 1500 crore
• Technology system to be used enabling Migrants to access PDS(Ration) from any Fair Price Shops in India by March,2021-One Nation one Ration Card - Free food grains supply to Migrants for 2 months.
