FM Nirmala Sitharaman’s 3rd presser: Rs 20 lakh crore stimulus package key points

Finance Minister Nirmala Sitharaman released the second tranche of the ₹20 lakh crore economic package to help the country tide over the coronavirus crisis. Primarily focus on migrant workers, street vendors and small farmers. As declared by PM Modi in his address to the nation, Finance Minister will release details of the economic package, themed on making India self-reliant (Aatma Nirbhar Abhiyan), over the next few days.

In first instalment on Wednesday, Sitharaman had announced Rs 3 lakh crore collateral-free automatic loans for businesses. This also including MSMEs, as well as Rs 30,000 crore liquidity facility for NBFCs, among other measures.

Here are the key points from the finance ministers’ address:

  • Everyday 300 Shramik special trains can run.
  • Free food grain supply to migrants for next 2 months.
  • 5 kg of rice/wheat per family and 1kg of chana to non-card holders.
  • PDS ration cards to be made portable : 100% coverage under ‘One Nation One Ration card’ by March 31, 2021.
  • Affordable Rental Housing Complexes (ARHC) for migrant worker and Urban poor.
  • Rs.5,000 crore special credit card facility for street venders.
  • Rs. 30,000 crore additional emergency working capital fund for farmers through NABARD.
  • Interest subvention support of 2% for Mudra Shishu Loan payees.
  • Rs 2 lakh crore of concessional credit boosts to 2.5 crore farmers through Kisan Credit Cards.
  • Rs 6,000 crore employment push using CAMPA funds.
  • Extension of housing subsidy scheme for middle-income families till this March 2021.
  • Government has also proposed issuing appointment letters to all worker to promote formalization and annual health check-ups for all employees.

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