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Last Updated : May 14, 2020 08:16 PM IST | Source: Moneycontrol.com

FM Nirmala Sitharaman press conference: Here's a list of key announcements

A total of 9 measures were announced, which focused on food and housing for migrant workers and the urban poor


Finance Minister Nirmala Sitharaman on May 14 announced a number of measures for migrant workers, street vendors and small traders affected by the novel coronavirus, or COVID-19, pandemic.

A total of nine measures were announced, which focused on food and housing for migrant workers and the urban poor.

Migrant workers have been struggling during the lockdown since many face uncertainty over their employment and are experiencing difficulties in procuring food supplies.

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Here are the important measures announced by the Finance Minister:

- Free foodgrains to be supplied to around eight crore migrants for two months. The grains to be distributed includes 5 kg of rice/wheat and 1 kg of chana.

- Affordable Rental Housing Scheme (ARHC) for migrant workers and the urban poor through the Pradhan Mantri Awas Yojana (PMAY).

-Two percent interest subvention for MUDRA-Shishu loans; total relief worth Rs 1,500 crore.

-Rs 6,000 crore push for employment of tribal and adivasis using funds under the Compensatory Afforestation Fund Management and Planning Authority (CAMPA).

- Special credit facility of Rs 5,000 crore for street vendors to be launched within a month.

- Rs 2 lakh crore concessional credit to be granted to around 2.5 crore farmers through Kisan Credit Cards.

Credit Linked Subsidy Scheme (CLSS) extended up to March 31 for the middle income group (Rs 6-18 lakh annual income). 

- Rs 30,000 crore additional emergency working capital fund for farmers through NABARD.

The Finance Minister also mentioned other important points apart from measures announced on May 14.

She added that three crore marginal farmers had received loans worth Rs 4 lakh crore at low rates.

The Finance Minister also spoke about the labour codes, reiterating that the government intends to reduce 44 laws into four codes.

She said the Centre has granted Rs 11,000 crore to states for taking care of migrant workers and others through their disaster relief funds.

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First Published on May 14, 2020 06:21 pm
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