Finance Minister Nirmala Sitharaman announced the second installment of measures being taken to revive the economy hit by Covid-19. The measures are a part of the Rs 20 lakh crore stimulus package announced by Prime Minister Narendra Modi on May 12.

Nirmala Sitharaman
Nirmala SitharamanReuters

Live updates on FM Sitharaman's press conference:

  • Today's initiatives focus on migrant workers, street vendors, small traders, the self-employed and small farmers, says FM Nirmala Sitharaman
  • Direct Support to Farmers and Rural Economy provided post-Covid-19 as part of Aatma Nirbhar Bharat Package: FM Sitharaman
  • Liquidity Support to farmers and rural economy provided post-Covid-19 as part of Aatma Nirbhar Bharat Package: Finance Minister
economic package
  • The central government has permitted the state governments to utilise SDRF for setting up shelter for migrants.
  • The Centre has also released Rs 11,002 crore of its contribution in advance to all States on 3rd April
  • FM Sitharaman announces MGNREGA support to returning migrants. Over 14.6 crore MNREGA person days have been generated till yesterday, 40-50% higher compared to last May. Work has been offered to 2.33 crore wage seekers in 1.87 lakh gram panchayats.
mgnrega migrants
  • Free Food grain supply to migrants for 2 months. About 8 crores migrants to benefit from this. Rs 3,500 crore will be spent on this intervention for 2 months
  • Migrant Workers/Urban Poor to have Affordable Rental Housing Complexes (ARHC): Government will launch a scheme under PM Awas Yojna. This will convert government-funded housing in the cities into affordable rental housing complexes under PPP model, says the Finance Minister.
affordable houing
  • Government to support nearly 50 lakh street vendors

Rs 5,000 crore Special Credit Facility for street vendors

credit facility street vendors
  • Government to extend the Credit Linked Subsidy Scheme (CLSS) up to March 2021; 2.5 lakhs middle income families to benefit during 2020-21 
  •  Rs 2 lakh crore Concessional credit boost to 2.5 crore farmers through Kisan Credit Cards; Fishermen and Animal Husbandry farmers will also be included in this drive
credit boost