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FM Nirmala Sitharaman HIGHLIGHTS of the Economic Package 20 Lakh Crore: At its press conference on Wednesday, FM Sitharaman announced measures to increase liquidity for MSMEs through easier loans.Highlights of the FM Nirmala Sitharaman press conference: The government has finally taken steps to resolve the pain of migrant workers, small farmers and street vendors with the second round of measures that focuses primarily on providing work and benefits for the poor. The government introduced a nation’s ration card, through which people can buy rations at any ration depot in the country, to help the poor. Along with a previously announced increase in the wage rate from Rs 182 to Rs 202, it was also announced that migrant workers will now get jobs in their own states under MNREGA as more opportunities have been created. Street vendors were also catered for when the government announced a special credit line of Rs 5 billion for them. Launching within a month, the plan will assist 50 lakh street vendors, providing them with an initial working capital of Rs 10,000. To strengthen the agricultural sector, almost Rs 2 lakh crore will be delivered to farmers through Kisan credit cards. 2.5 crore farmers, including fishermen and ranchers, will also get institutional credit at a concessional rate, Sitharaman said. The government’s efforts to change labor laws were also highlighted, along with its effort to make minimum wages applicable to all workers. On Tuesday, the Prime Minister had said that the government is implementing an economic package of Rs 20 lakh crore to help thwart the consequences of the coronavirus and blockade, and also to help make India a self-sufficient economy.
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