The top security panel is likely to discuss the standoff with China in Ladakh.
Farmers will get 50-83 per cent more returns as the Union cabinet approved minimum support price for 14 crops at a meeting today. The meet – preceded by meetings of the Cabinet Committee on Security and the Cabinet Committee on Economic Affairs -- also took key decisions on MSMEs (Micro, Small and Medium Enterprises) and street vendors.
"Gaon, gareeb, kisan (villages, the poor and the farmers) are the priority of the government," said a panel of Union ministers who briefed the media after the meeting, which, sources said, was expected to take "historic decisions".
Union Minister Narendra Tomar, who is in charge of the agriculture portfolio, said the farmers will now get more time to repay their loans -- the new deadline will be in August.
Loans can also be taken on the Kisan credit card and farmers can sell their harvest wherever they wish, the minister said.
A law to give farmers the choice to sell their produce anywhere and get the price they want was promised by the government last month.
While announcing the third tranche of the mega economic stimulus to help the industry after the coronavirus-induced lockdown, Union Finance Minister Nirmala Sitharaman said the new law will allow farmers to conduct "barrier-free interstate trade" and also e-trading of farm produce.
GDP data last week showed the slowest pace of growth in 11 years and a big impact of the lockdown on the latest quarter. Around 12 crore people lost jobs in April, according to estimates by the Center for Monitoring Indian Economy.
In its attempt to revive the economy, the government has been easing lockdown curbs since April 20. Domestic flights and train services restarted last month. The easing of restrictions had continued with "Unlock1" plan that came into force today. This latest phase of relaxations included reopening of malls, restaurants, hotels and places of worship.
Analysts predict a first full-year contraction of the economy in more than four decades even as the country battles a spurt in coronavirus cases. India galloped to the number 8 spot in the top 10 worst virus-hit countries in the world on the weekend.
In a letter to the nation to mark a year after his re-election, PM Modi said the nation took historic decisions and progressed rapidly in the last year. He also predicted that India would set an example in economic revival and surprise the world like it did in its fight against the pandemic.
