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Finance Minister Nirmala Sitharaman will hold a press conference at 4 pm today. This will be their third press conference in the same number of days.
Sitharaman has been announcing the tranches of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi. Prime Minister Modi had announced the package during his nationwide speech on Tuesday, vowing to make the country “atmanirbhar” or self-sufficient. He said that this will be 10 percent of the country’s Gross Domestic Product (GDP).
Sitharaman will hold daily press conferences until Sunday.
Free food grains and legumes for migrants, more jobs for tribes and those living in rural areas, and credit for small businesses, street vendors and small farmers – these were some of the highlights of the second phase of the package that Sitharaman announced on Thursday.
For a total of Rs 3.16 lakh crore, the schemes include 5 kg of rice or wheat and 1 kg of “chana” (chickpea) per month, for 80 million migrant families for two months. It will cost Rs 3.5 billion rupees, Sitharaman said at his press conference on Thursday.
A Rs 1.5 billion interest discount scheme targeting 30 million units, a Rs 5 billion special credit line for 5 million street vendors, a fund from the Compensatory Forestry Planning and Management Authority (CAMPA ) of Rs 6 billion to provide jobs to the tribes, a Rs 30,000 emergency working capital scheme for farmers, an increase of Rs 70 billion for lower middle class housing and the concessionary credit offer of Rs 2 -lakh crore to 25 million farmers through Kisan Credit Cards was the other thing she announced.
Sitharaman said the short and long-term measures are aimed at supporting the poor, including migrants, farmers, small businesses and street vendors. “Farmers and workers are the backbone of this nation. They serve us all with sweat and work, ”he said Thursday.
The first tranche of the package, which totaled around Rs 5.9 lakh crore, which Sitharaman announced on Wednesday, focused mainly on providing easy credit facilities to micro, small and medium-sized enterprises (MSMEs) and non-bank financial companies (NBFC).
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