Mumbai: Finance Minister Nirmala Sitharaman announced the second tranche of the 20 Lakh crore stimulus package on Thursday. The second tranche was mainly focused on the small vendors, small farmers and migrant workers.
The first tranche of the package was announced on Wednesday, which focused on the MSMEs and NBFCs.
Here are the main highlights of the second tranche:
Free food grains for the next three months, even for those who don’t have a ration card. Non-card holders can avail 5kg Rice, 5 kg Wheat/Chana per family. Government has allocated 3500 crores for the scheme and approximately 8 crore people will be benefited from this.
One nation One ration card- Migrant workers those who live or have travelled to other states can avail food grains from any fair price shops with their ration cards. The One nation one ration card has rolled out 83% so far and will be 100% by March 2021.
Kisan Credit card: 25 Lakh new Kisan credit cards have been issued with a loan limit of Rs. 25000 crores. 2 Lakh crore concessional credit boost for 2.5 crore farmers who don’t have Kisan credit cards. This will also benefit fishermen and animal husbandry workers.
Affordable housing: Under Pradhan Mantri Awas Yojana, a rental housing scheme will start, where institutions and associations will be asked to make affordable rental housing accommodation on their premises.
Special credit facility worth Rs 5000 crores to support nearly 50 Lakh street vendors. The street vendors will have an initial working capital of Rs 10000.
Sishu loans: Loans under MUDRA for the smallest loan takers, for an amount up to Rs 50000 or less than will be provided at 2% subversion rate. This will benefit up to 3 crore people who are under the Sishu category.
NABARD to extend additional re-finance support of Rs 30,000 crores for crop loan requirement of Rural Co-op banks and RRBs, will benefit3 crore farmers.