Finance minister Nirmala Sitharaman during a press conference in New Delhi on Friday. (ANI photo)
FM Nirmala Sitharaman Speech HIGHLIGHTS: In her third tranche of the stimulus package as part of ‘Self-reliant India Mission’ to cushion the impact of Covid-19, Union Finance Minister Nirmala Sitharaman Thursday said that the new announcements will focus on agriculture and allied activities.
Earlier, the announcements by the Finance Minister had focused on the poorer segments of society, including migrant labour, small and marginal farmers and urban poor, seems skewed more towards the long-term. She had announced three measures for the distressed migrant workers while unveiling the details of the Rs 20 lakh crore economic package to help the Atmanirbhar Bharat Abhiyan (India’s self-reliant campaign).
Sitharaman also announced the ‘One Nation One Ration card’ scheme under which migrants will be enabled to access Public Distribution System from any Fair Price Shop in the country by March 2021. This is part of the PM’s Technology-Driven System Reforms.
The package was announced by Prime Minister Narendra Modi on Tuesday, during his fifth address to the nation.
Key highlights from Nirmala Sitharaman’s Press Conference
# Today, the third tranche of economic stimulus will focus on relief to agriculture, allied industries.
#I will announce a total of 11 measures today, of which eight will relate to strengthening infrastructure, capacities and building better logistics, while the remaining three will pertain to governance and administrative reforms.
#Funds transfers worth Rs 18,700 crores has been done under the PM KISAN Yojana in the past 2-months and PM Fasal Bima Yojana claims worth Rs 6,400 crores have also been released in the past 2 months.
#During the Covid-19 lockdown period, the demand for milk was reduced by 20-25 per cent. A new scheme has been launched for interest subvention at 2 per cent per annum to dairy cooperatives for 2020-21 aimed at unlocking Rs 5,000 crores additional liquidity, benefitting 2 crore farmers.
#A scheme will be launched to help 2 lakh unorganised Micro Food Enterprises, This schemes aimes to promotes the ‘Vocal for Local’ vision of our Prime Minister.
#To help the Fisheries sector, operations of Marine Capture Fisheries and Aquaculture has been relaxed to cover Inland Fisheries.
# Government will launch a Rs 20,000 crores Pradhan Mantri Matsya Sampada Yojana (PMMSY) for integrated, sustainable inclusive development of marine and inland fisheries.
#The scheme will lead to additional fish production of 70 lakh tonnes over the next 5 years and will employment to over 55 lakh people.