New Delhi: Acknowledging that financial resources with small and marginal farmers are not adequate, Union Finance Minister Nirmala Sitharaman on Thursday announced Rs 30,000 crore additional emergency working capital fund for them. She said it will be provided through NABARD to small and marginal farmers in the coming days. Also Read – Migrant Woman Sets Off With Disabled Son on Shoulders, Walks All The Way From Gujarat to Madhya Pradesh
She said this is in addition to Rs 90,000 crore which is being provided by NABARD through the normal refinancing. Also Read – FM Announces Rs 1500 Crore Interest Subvention For MUDRA-Shishu Loans of up to Rs 50,000
During her press conference, FM Sitharaman said that Rs 2 lakh crore concessional credit boost will be given to 2.5 crore farmers through Kisan Credit Cards. Also Read – Govt to Spend Rs 3,500 Crore on Giving Free Food Grain to 8 Crore Migrant Workers, Says FM
In a separate announcement, she said the affordable housing scheme for middle-income families with Rs 6 lakh to Rs 18 lakh annual income will be extended till March 2021.
Announcing further relief, Sitharaman said that 50 lakh street vendors will be given Rs 5,000 crore in the coming days.
“The central government will extend the Credit Linked Subsidy Scheme (CLSS) for the middle-income group (annual income Rs 6-18 lakhs) up to March 2021. Over 2.5 lakh middle income families will benefit during 2020-21,” Sitharaman added.
She further said that to create job opportunities for tribals /Adivasis plans worth Rs 6000 crores will be approved shortly under Compensatory Afforestation Management & Planning Authority (CAMPA) Funds.
During her media briefing, the finance minister announced a Rs 3.16 lakh crore package of free foodgrains for migrant workers, concessional credit to farmers and working capital loan for street vendors as part of the second tranche of fiscal stimulus to heal an economy of the country.
For small businesses, the minister announced a 2 per cent interest subvention under MUDRA-Shishu loans of up to Rs 50,000. This would cost the government Rs 1,500 crore.
PM Modi had on Tuesday had 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).
