Union Finance Minister Nirmala Sitharaman on Sunday announced the last tranche of economic measures explaining the break up of the 20 lakh crore package announced by PM Modi earlier this week. Here is a detailed list of all the five tranches announced by the Finance Minister.
In the first tranche, Sitharaman announced a list of 15 measures. Putting emphasis on PM's concept of Atmanirbhar India (self-reliant India) she mentioned that the focus of the package is on the factors of production- land, labour, liquidity and others.
As a part of the second tranche, nine main measures to aid migrant workers, street vendors, small farmers, self-employed people were announced.
One nation one ration card in three months- National portability of ration card with 'one Nation one ration card' will be implemented by August this year. 67 crore beneficiaries will gain in 23 states, using this ration card in any corner of the nation in the next three months.
Affordable rental housing for urban poor- Affordable rental accommodation for migrant labour and urban poor. A rental housing scheme will be incentivised to build affordable housing and converting government housing into rental housing under PM Awas Yojana.
Shishu loans under MUDRA
2 lakh concessional credit boost for farmers- Farmers holding Kisan Credit Cards will be provided concessional Credit boost amounting to Rs 2 lakh crore. Fishermen & Animal husbandary farmers will also be included in this and 2.5 crore farmers will benefit from this.
Apart from these measures, the government also announced reforming labour laws in the near future. The current 44 labour laws are being reduced to just 4 labour codes. The bill is currently in the parliamentary standing committee and will soon be introduced in parliament.
Steps in pipeline:
The Centre rolled out its third tranche of economic measures with 11 announcements on Friday. Finance Minister Nirmala Sitharaman announced 11 measures - of which 8 of them focused on strengthening infrastructure, capacities and building better logistics in Agriculture, Fisheries and animal husbandry, while the rest 3 pertained to governance and administrative reforms.
Rs 10,000 crore scheme for formalisation of Micro Food Enterprises- The fund for micro food enterprises (MFE) will help 2 lakh MFEs using technical up-gradation, building brands, marketing.
Rs 20,000 crore for Fishermen through PM Matsya Sampada Yojana- Executing the scheme launched in the Budget 2020 immediately, the PM Matsya Sampada Yojana allots Rs 11,000 crore for marine, inland fisheries and agriculture. Rs 9000 crore for infrastructure including fishing harbours, cold chain, markets etc.
National Animal Disease Control Programme launched- Ensuring 100% vaccination of cattle, buffalo, sheep, goat & pig population which will cover 53 crore animals. The programme has an outlay of Rs 13,343 crores since January 2020. Till date, 1.5 crore cows and buffaloes tagged and vaccinated.
Rs 15,000 crore to be spent for dairy infrastructure- An Animal Husbandary Infra Fund of Rs. 15000 crore will be set up to support private investment in dairy processing and cattle feed infrastructure.
Rs 4000 Crore for Promotion of Herbal Cultivation- The National Medicinal Plants Board (NMPB) has supported 2.25 lakh hectare area for medical plant cultivation. Additional 10,00,000 hectare will be covered with the Rs 4000 crore fund in the next two years.
Rs 500 crores for bee-keeping initiatives- Beekeeping increases yield & quality of crops, hence govt will implement a Rs 500 crore scheme to aid honey production and wax production, marketing, storage etc. This will increase the income of 2 lakh beekeepers.
Rs 500 crore 'Top' to total initiative- Operation Greens to be extended from tomatoes, onion and potatoes to all fruits and vegetables. The scheme includes 50% subsidy on transportation from surplus to deficient markets and 50% subsidy on storage including cold storages on a pilot basis for 6 months.
Agriculture marketing reforms to provise marketing choices- Govt will bring agriculture marketing reforms to provide marketing choices to farmers via a Central law.
Agriculture produce price and quality assurance- Govt of india will create legal framework that will enable farmers for engaging with processors and aggregators , large retailers , exporters in a transparent way. Risk mitigation for farmers , assured returns and quality standardization shall form integral part of the framework.
The Centre announced structural reforms in eight sectors in the fourth tranche of its economic package amid Coronavirus lockdown. The reforms introduced affect 8 sectors namely - Coal, defence production, minerals, civil aviation (Airports, Airspace Mgmt & MRO), power distribution in UTs, Space and atomic energy.
1. Coal sector: Commercial mining in coal sector
Govt. brings Policy Reforms in Coal Sector:— PIB India #StayHome #StaySafe (@PIB_India) May 16, 2020
â Introduction of Commercial Mining in Coal Sector
â Investment of Rs 50,000 crores
â Liberalised Regime in Coal Sector #AatmaNirbharEconomy (1/2) pic.twitter.com/yL6jUdiFPE
2. Mineral sector: Seamless exploration-cum-mining-cum-production regime
3. Defence production: Corporatisation not privatisation of Ordance Factory Board
4. Civil aviation: Airspace management, MRO hub in India, auction of airports
Efficient Airspace Management for Civil Aviation: Restrictions on utilisation of the Indian Air Space will be eased so that civilian flying becomes more efficient#AatmaNirbharEconomy pic.twitter.com/0tjdghtQ85— PIB India #StayHome #StaySafe (@PIB_India) May 16, 2020
5. Power distribution in Union territories to be privatised
6. Social infrastructure to be revamped though Rs 8000 crore Viability Gap Funding scheme
7. Private participation boost in Space exploration
8. Atomic Energy-related reforms
Govt. to establish research reactor in #PPP mode for production of medical isotopes to promote welfare of humanity through affordable treatment for cancer and other diseases.#AatmaNirbharDesh in the Atomic Energy Sector#AatmaNirbharEconomy pic.twitter.com/r2twqa6k4k— PIB India #StayHome #StaySafe (@PIB_India) May 16, 2020
In the fifth and the last tranche of the Aatmanirbhar Bharat package, Finance Minister Nirmala Sitharaman announced 7 steps namely for MNREGA, health and education, for states, and for easing of business.