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Saturday, May 30, 2020

Migrants, vendors, farmers to benefit from economic stimulus: FM

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Top takeaways in MSME Economic package announcedNew Delhi, May 14 (IANS) Finance Minister Nirmala Sitharaman said the second tranche of the economic stimulus package will benefit migrant workers, street vendors, and small farmers.

Emphasising on building a self-reliant India, she said Thursday”s initiative, which is the second tranche, focuses on migrant workers, street vendors, small traders, self-employed and small farmers. She insisted the stimulus consists of nine steps benefiting each category.

“Three steps for migrant workers, 1 for ”sishu” loan within Mudra, one related to street vendors, one to housing, one for employment generation for tribals, and two related to small farmers,” Sitharaman said.

The Minister assured that there will be more steps for farmers in the near future besides these measures.

Sitharaman said the government is extremely concerned with the issues concerning the migrant workers, and within hours of having announced the lockdown, the Pradhan Mantri Garib Kalyan Yojana was made operational for the poor.

Unveiling the second tranche of the economic package, she added that 3 crore farmers availed Rs 4.22 lakh crore loans on concessional rates and benefitted from three month loan moratorium. “Interest subvention and prompt repayment incentive on crop loans due from March 1 extended up to May 31. 25 Lakh new Kishan credit cards sanctioned with a loan limit of Rs 25,000 crore,” she said.


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