LIVE

HIGHLIGHTS | FM Sitharaman announces free food grain supply to migrants for two months

On Wednesday Sitharaman announced the first tranche of measures related to 'Atmanirbhar Bharat'. The finance minister gave details of 15 new measures to revive businesses.
Union Finance Minister Nirmala Sitharaman (Photo|Anil Shakya, EPS)
Union Finance Minister Nirmala Sitharaman (Photo|Anil Shakya, EPS)
Online Desk

Finance Minister Nirmala Sitharaman unveiled the second tranche of Centre's Rs 20 lakh crore fiscal stimulus, which was mainly focused on migrant workers, street vendors and small farmers.

Today's announcements included one ration card that would be accepted across the country, affordable rental housing scheme and Rs 5,000 crore special credit facility benefit for street vendors.

"There is a legitimate concern about migrants returning to their home states and we are attending to migrants," said the finance minister minister.

On Wednesday Sitharaman announced the first tranche of measures related to 'Atmanirbhar Bharat'. The finance minister gave details of 15 new measures to revive businesses. One of the key announcements made by Sitharaman yesterday was Rs 3 lakh crores collateral-free automatic loans for businesses, including MSMEs.

ALSO READ: A day after PM Modi's grand announcement, is Atmanirbhar Bharat Abhiyan already a spent force?

The Finance Minister also announced the extension of deadline for all income-tax return for FY 2019-20 and the reduction of TDS and TCS rates by 25 percent.

WATCH | Seven suspected coronavirus patients on Delhi-Trivandrum train

Village fair conducted amidst lockdown in Karnataka, Panchayat Development Officer suspended

The Supreme Court on Friday asked the Centre to apprise it about steps taken for quarantining doctors and medical staff engaged in fight against coronavirus in accommodations near the hospitals itself. (READ FULL REPORT HERE) 

WATCH | Migrant workers at the Delhi-UP border

Centre rejects Kerala's request for 7-day quarantine for expats

Union Group of Ministers meeting to discuss COVID-19 underway

Union Group of Ministers meeting to discuss COVID-19 underway

News from Uttarakhand

Uttarakhand State Health Secretary has ordered Dist authorities of Udham Singh Nagar, Pauri, Nainital, Haridwar and Dehradun to make arrangements for random sampling of returning migrants at border check posts in the districts.

Death toll crosses 1000 in Maharashtra

 Finance Minister Nirmala Sitharaman concludes the presser

Rs 2 lakh crore Concessional credit boost to 2.5 crore farmers through Kisan Credit Cards; Fishermen and Animal Husbandry farmers will also be included

Kisan credit card

  • Rs 2 lakh crore concessional credit will be extended to 2.5 crore farmers who don't have the card

  • Fisherman and animal husbandry workers to also be included

    • Rs 70,000 crore boost to housing sector and middle income group through extension of CLSS

  • Credit Linked Subsidy Scheme for Middle Income Group (Annual Income: Rs 6-18 lakhs) was operationalized from May 2017

  • CLSS was extended up to 31st March 2020

  • Scheme has benefitted 3.3 lakh middle class families so far.

  • Government will extend the CLSS Scheme up to March 2021.

  • 2.5 lakhs middle income families will benefit during 2020-21

  • Will lead to Investment of over Rs. 70,000 Crores in housing

  • Will create jobs Will stimulate demand for steel, cement, transport and other construction materials.

    • Rs 70,000 crore boost to housing sector and middle income group through extension of CLSS

    Rs 70,000 crore boost to housing sector and middle income group through extension of CLSS

    Credit Linked Subsidy Scheme for Middle Income Group (Annual Income: Rs 6-18 lakhs) was operationalized from May 2017

    CLSS was extended up to 31st March 2020

    Scheme has benefitted 3.3 lakh middle class families so far.

    Government will extend the CLSS Scheme up to March 2021.

    2.5 lakhs middle income families will benefit during 2020-21

    Will lead to Investment of over Rs. 70,000 Crores in housing

    Will create jobs Will stimulate demand for steel, cement, transport and other construction materials.

    Rs 5000 crore special credit facility for street vendors

    Affordable Rental Housing Complexes (ARHC) for Migrant Workers / Urban Poor

    Migrant labour/urban poor face challenges in getting houses at affordable rent.

    Government will launch a scheme under PMAY for migrant labour/urban poor to provide ease of living at affordable rent by,

    i. Converting government funded housing in the cities into Affordable Rental Housing Complexes (ARHC) under PPP mode through concessionaire;

    ii. Incentivizing manufacturing units, industries, institutions, associations to develop Affordable Rental Housing Complexes (ARHC) on their private land and operate; and iii. Incentivizing State Government Agencies / Central Government Organizations on the similar lines to develop Affordable Rental Housing Complexes (ARHC) and operate.

    Ministry will issue detailed guidelines.

    Migrant Workers / Urban Poor to have Affordable Rental Housing Complexes

    For non ration card holders

    For non-card holders, they shall be given 5kg wheat/rice per person & 1 kg chana per family/month for 2 months. 8 crore migrants will benefit from this. Rs 3500 crores to be spent on this measure: FM

    One nation, one ration card

  • Now ration cards can be used in any ration shop in any part of the country

  • 63 crore beneficiaries in 23 states will get covered by August

  • 100 per cent coverage by March 2021

    • Social Security Scheme for Gig workers and Platform workers.

    • Re-skilling fund introduced for retrenched employees. All occupations opened for women and permitted to work at night with safeguards.

    • Provision for Social Security Fund for unorganised workers.

    • Gratuity for Fixed Term Employment - Provision of gratuity on completion of one year service as against 5 years.

    Free food grains for migrants for next 2 months

    1) Central government to spend Rs 3,500 crore on this measure

    2) For non-ration card holders, free 5 kgs per family of wheat/rice and 1 kg chana

    3) State governments to be in charge of this initiative

    4) 8 crore migrants to benefit from this measure

    'Returning migrant workers needing work will be engaged'

    We have made adequate provisions to ensure that returning migrant workers needing work will be engaged, states and UTs have been asked to provide them work as per provisions of MNREGA Act, says FM.

    Government claims 14.62 crore person-days of work generated till 13th May 2020

    We have already generated 14.62 crore person-days of work till 13th May, which is 40-50 per cent more persons enrolled as compared to last May. Migrant workers going back to their states being actively enrolled: FM Nirmala Sitharaman

    8 reforms in the pipeline

    1) Labour Codes and workers' welfare

    2) Universal right to minimum wages

    3) Removing regional disparity in minimum wage, and introducing National floor wage

    4) Benefits for interstate migrant workers

    5) Portability of welfare benefits for migrant workers

    6) Mandatory ESIC coverage for employees of hazardous industries

    7) Social security schemes for gig and platform workers

    8) Re-skilling of retrenched workers

    Support for migrants and poor

    Government permitted State Governments to utilise SDRF for setting up shelter for migrants.Central Government released Rs 11002 crore of its contribution in advance to all States on 3rd April

    12,000 self-help groups have produced 3 crore masks during Covid period

    For representational purpose. (Photo | BP Deepu, EPS)

    21 coronavirus patients in BSF test negative

    Liquidity Support to farmers & rural economy: Finance Minister

    Congress leaders who met COVID-positive man at Walayar protest told to go on home quarantine

    MPs V K Sreekantan, Remya Haridas and T N Prathapan along with MLAs Shafi Parambil and Anil Akkara had offered food and drinking water to the Malappuram native. (READ FULL REPORT HERE)

    Rs 11,000 crores sent to states to set up shelter for migrants and provide food and water

    For representational purpose. (Photo | Irfana, EPS)

    Direct support to farmers

    Interest subvention and prompt repayment incentive on crop loans due from 1st March has been extended to 31st May: FM Nirmala Sitharaman

    Credit for farmers

  • 22 lakh new kisan credit cards sanctioned

  • Credit for farmers interest subvention for existing loans extended till May 31, 2020

    • Credit for farmers

  • 22 lakh new kisan credit cards sanctioned

  • Credit for farmers interest subvention for existing loans extended till May 31, 2020

    • Government is not sitting idle

    There may have been a lockdown, but the government has not been sitting idle: FM

    In today's agenda

  • 3 steps for migrants

  • 1 for street vendors

  • 1 for housing

  • 1 for the employment for tribals

  • 2 for small farmers

    • Package for migrants, farmers

    Today's initiatives focuses on migrant workers, street vendors, small traders, the self-employed and small farmers: FM Nirmala Sitharaman

    Finance Minister Nirmala Sitharaman begins addressing the media

    Sensex plummets 886 points; Nifty cracks below 9,200 ahead of FM's presser

    Equity benchmark Sensex plunged 886 points on Thursday, tracking heavy losses in index heavyweights Reliance Industries, HDFC twins, Infosys and ICICI Bank.

    Further, market players were disappointed as the immediate spend out of the government's Rs 20 lakh crore fiscal stimulus package was seen to be relatively small, raising doubts about the revival of growth any time soon, experts said.

    P Chidambaram on FM Sitharaman's announcements

    Senior Congress leader P Chidambaram on Wednesday said the Centre's COVID-19 economic stimulus package had nothing for lakhs of poor and hungry migrant workers who have been walking to their homes, and expressed disappointment with the finance minister's announcements. (READ MORE)Senior Congress leader P Chidambaram. (Photo | EPS)

    Here's a quick recap of Wednesday's press conference

    1) Rs 3 lakh crore collateral free automatic loan for businesses

    Sitharaman announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs. This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package. (READ MORE)

    2) TDS/TCS rate for non-salary payments cut by 25 per cent

    The government on Wednesday slashed TDS/TCS rate for non-salary payments to residents by 25 per cent for the remaining months of the fiscal and extended the due date for filing income tax returns for 2019-20 till November 30, 2020. (READ MORE)

    3) Rs 30,000 crore support for NBFCs, HFCs, MFIs

    Rs 30,000 crore special liquidity scheme for non-banking financial institutions was announced to provide credit support to the sector amid the coronavirus crisis.

    Further, a Rs 45,000 crore partial credit guarantee scheme 2.0 was also unveiled for non-banking financial companies (NBFCs), housing finance companies (HFCs), and microfinance institutions (MFIs) with low credit rating to help them extend loans to individuals and MSMEs. (READ MORE)

    4) Deadline for realty projects extended by six months 

    Finance Minister Nirmala Sitharaman on Wednesday announced up to six months extension for completion of obligations under highways, railways and other contracts. The move will provide relief to contractors impacted by the COVID-19 crisis.

    "The extension of up to six months without cost to contractor is to be provided by all central agencies like Railways, Ministry of Road Transport & Highways and Central Public Works Department," Sitharaman said. (READ MORE)

    5) Power distribution companies get Rs 90,000 crore aid

    The Centre on Wednesday rolled out the much-awaited relief for cash-strapped, debt-ridden power distribution companies (discoms). Part of the Rs 20 lakh crore Atma Nirbhar Bharat Abhiyan relief package, the move will see discoms get a liquidity infusion by way of loans worth Rs 90,000 crore — enough to help them pay off over 95 per cent of their current dues to power generation firms (gencos). (READ MORE)

    Finance Minister
    Nirmala Sitharaman
    Coronavirus
    COVID19
    Lockdown
    Atmanirbhar Bharat Abhiyan

    Related Stories

    No stories found.

    X
    The New Indian Express
    www.newindianexpress.com