Moneycontrol PRO
Upcoming Event:Super25 3.0- India’s Largest Online Stock Traders Conference brought to you by Moneycontrol Pro & Espresso

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

May 14, 2020 / 08:16 PM IST

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.

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.


COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more

- 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.

Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Moneycontrol News
first published: May 14, 2020 06:21 pm
ISO 27001 - BSI Assurance Mark