FM Sitharaman said the announcements will be made in tranches.
While senior Congress leader P Chidambaram said the package was a “cruel blow” to those who toil every day, West Bengal Chief Minister Mamata Banerjee said it had nothing for the unorganised sector and employment generation. For migrants and the urban poor, the FM also announced affordable rental accomodation under PM Awas Yojana (PMAY). (The second leg of the relief package continues with the basic design of leveraging large stimulus with minimal fiscal cost — of the total liquidity infusion of Rs 3.10 lakh crore, the likely outflow from the Centre’s exchequer is only about Rs 5,000 crore.Thursday’s measures focused on the poorer segments of society, including migrant labour, small and marginal farmers and urban poor, seems skewed more towards the long-term.For instance, the affordable rental housing scheme under Pradhan Mantri Awaas Yojana for migrant workers and urban poor will likely be implemented only over a longer time frame.Union Finance Minister Nirmala Sitharaman Wednesday in her second press conference further #Between March 01 and April 30, nearly 63 lakh loans of farmer worth Rs 86,600 was approved. (Express photo by Anil Sharma) FM Nirmala Sitharaman Announcements Live Updates: Union Finance Minister Nirmala Sitharaman Wednesday announced a slew of measures to help businesses, including micro, small and medium enterprises (MSMEs), recover from the economic … Finance Minister Nirmala Sitharaman will be addressing a press conference at 4 pm today to give details of the Rs 20 lakh crore-stimulus package announced by Prime Minister Narendra Modi in his address to the nation on Tuesday night.In her press conference, Nirmala Sitharaman is expected to give a break-up of the Rs 20 lakh crore-relief package.On Tuesday, PM Modi while announcing the package said India should now aim to become self-dependent.
Since there is a one-year moratorium on repayment of principal by businesses getting credit under the collateral-free loan scheme, no cost will accrue to the government at least in 2020-21.For subordinate loans of Rs 20,000 crore, its direct support is only Rs 4,000 crore to Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) set up by Sidbi and the government of India. A rough assessment indicates at least 8 crore migrants will benefit from this free food grain supply. FM Nirmala Sitharaman Press Conference Live Updates: Next tranche of funds from Rs 20 lakh crore economic package to help Atmanirbhar Bharat Abhiyan (India's self-reliant campaign) announced today. New Delhi: Finance Minister Nirmala Sitharaman, will be sharing the further details of the economic package that will shape the future of 130 crore Indians amid the Corona crisis, in the second phase of her briefing today.
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