A special credit facility of Rs 5,000 crore for street vendors will be launched by the government within a month, Finance Minister Nirmala Sitharaman said during her media briefing on May 14.
This scheme, she said, will facilitate easy access to credit for street vendors who have been largely affected by the nationwide lockdown. Around 50 lakh street vendors will be able to avail credit via this scheme as they restart their businesses once the lockdown is lifted.
An initial working capital of up to Rs 10,000 per person will be made available under this facility, the finance minister added.
The initiatives announced today by FM Sitharaman focus on migrant workers, small farmers, street vendors, small traders, and self-employed people.
These announcements were part of the second tranche of measures under the Rs 20 lakh crore economic stimulus package that Prime Minister Modi outlined as Atmanirbhar Bharat Abhiyan in his May 12 address to the country.
Frequently Asked Questions
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.
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.
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.