GOVT'S FINANCIAL ASSISTANCE: WILL NIRMALA SITHARAMAN'S SLEW OF ANNOUNCEMENTS BRING RELIEF TO COMMONERS AND ENTREPRENEURS? HIGHLIGHTS

In the second tranche of the Centre’s Rs 20 lakh crore fiscal stimulus, Union Finance minister Nirmala Sitharaman made announcements related to food, shelter and livelihood for migrant workers, street vendors and small farmers. 

These are the KEY TAKEAWAYS from the announcement: 

1-The government will give additional food grain apart from the ones that it is currently distributing. Those who do not have a ration card will also get access to ration. 5kg of wheat and 5 kg of Channa will be given per family. This is set to benefit 8 crore people and an amount of 3500 crore has been allocated for this. She said this will be implemented by the state government and remain in place for the next three months. 

2- She announced the “One Nation One Ration Card” scheme, which permits anyone to avail ration irrespective of where they are “The One Nation One Ration Card is already rolled out 83 per cent so far, and will be 100 per cent by March 2021. This will ensure people get their rightful ration whichever corner of the country they may be.”

3- She announced the Awas Yorjana, under which institutions and associations will be asked to provide housing for affordable prices to the urban poor, labourers and migrants. 

4- People who are earning between Rs 6 lakh to 18 lakhs, a Rs 70,000 crore scheme is being devised for offering subsidized housing. She said this scheme has already benefited 3.3 lakh families and it will benefit another 2.5 lakh families. 

5- She announced a Rs. 5,000 crore special credit facility which will benefit street vendors. It will enable vendors to avail loan of Rs 10,000. It is estimated to benefit 50 lakh street vendors. 

6- Anyone who needs loans under Rs 50,000 will have 2 per cent interest subversion rate. The beneficiaries will come under the “MUDRA SHISHU” category. The total benefit for all beneficiaries is estimated to be around 1,500 crores. 

7- The kisan Credit Card which was introduced for farmers, will be extended to fishermen and animal husbandry workers. Almost 2.5 crore families will be benefited from the scheme. In order to help around 3 crore small and marginal farmers during the Rabi season, an additional fund of Rs.30,000 crore has been added to the existing Rs. 90,000 crores.