Cabinet decisions for farmers, MSMEs, poor: Key points

NEW DELHI: The Union Cabinet on Monday formulated the roadmap for implementing the measures related to farmers, MSMEs (micro, small and medium enterprises) and others, as announced in the governments' Atma Nirbhar Bharat package.
Addressing the media after the meeting -- which was chaired by Prime Minister Narendra Modi -- Union ministers Prakash Javadekar, Nitin Gadkari and Narendra Tomar said that the measures will improve ease of doing business, attract investments and create jobs.
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Here are the key points from the briefing:
* MSME definition has been further amended since announcement of the Aatma Nirbhar Bharat package. The turnover limit for medium enterprises has been revised upward to Rs 250 crore (from Rs 100 crore as announced earlier): Javadekar
* It is notable that the new MSME definition is being brought about 14 years after MSME Development Act, 2006: I&B minister
* Based on feedback received after announcement of the package, turnover limit for medium enterprises has been further amended to Rs 250 crore and investment limit further raised to Rs 50 crore: Javadekar

* Cabinet has approved modalities and road map for implementing two packages for MSMEs -- Rs 20,000 crore package for distressed MSMEs and Rs 50,000 crore equity infusion through fund of funds: Nitin Gadkari
* The Rs 20,000 crore subordinate debt for stressed MSMEs, will benefit 2 lakh stressed MSMEs: Javadekar
* The Rs 50,000 crore equity infusion for MSMEs will strengthen their growth potential and will enable them to get listed on stock exchanges. This is for the first time MSMEs are getting such support: Javdekar
* MSMEs play a crucial role in the building of a self-reliant India. Hence, it has been made an important part of the Atma Nirbhar Bharat package: Javadekar
* Cabinet has approved MSP for 14 kharif crops; farmers to get 50-83% more than cost: I&B minister
* Repayment date for short-term loans for agriculture and allied activities by banks which have become due or shall become due between March 1, 2020 and August 31, 2020 have been extended: Tomar
* The farmers will get more time to repay their loans, till August now: Union minister Narendra Tomar
* Government increased cotton MSP by Rs 260 to Rs 5,515 per quintal for 2020-21: Tomar
* Paddy MSP has been hiked by Rs 53 per quintal to Rs 1,868 per quintal for the 2020-21 crop year: Agriculture minister
* MSP rate for Jowar stands at Rs 2620/quintal, for Bajra at Rs 2150/quintal, and 50% increase in Ragi, Moong, Groundnut, Soyabean, Til and Cotton, for the year 2020-21: Narendra Tomar
* The government has remained sensitive to the problems faced by street vendors during the coronavirus pandemic. Portal and mobile app have been started for loan scheme for street vendors: Prakash Javadekar
In Video:Union Cabinet approves sops for MSMEs