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14 May 2020

Finance Minister Nirmala Sitharaman Today's Speech

Today's announcement focuses on migrant workers, street vendors small workers self-employed people small farmers.

9 stable finance 1 related to migrant workers, 1 related to Shishu loan mudra, one related to farmers, one to  housing, one related to tribal sanitation and to related to farmers

Around 3 crore farmers have already availed loans with you are given to them.  New  25 lakh new Kisan credit card were also given which gives a credential credit of Rs 25 thousand crore.

In last two months during lock down period around 11,000 crore was sent by the center to help the poor to have shelter, food for urban homeless category.  In shelter homes three meals are also provided for the poor by the center.

3 Crore mask and tonnes of sanitizer was produced by the country.  7200 new self help groups are formed to help the urban poor.

The lmigrant workers who are getting back to their native places will get work in their native place only through MANREGA Yojana and Central government is ensuring that they get at least minimum wage in their native places if they don't want to return back to the place of work.  All states and union territories have been intimated of government decision.

Now ESIC coverage has been mandatory to cover all the employees are working under MANREGA.

Free food grain supply to the migrants for the next 2 months.  Government is now giving those who are non card holders for them they shall be given 5 kg per person for rice or wheat and 1 kg of chana per family while engaging the state government and to provide food to the migrants who are coming back to the native places.  The central government will take the cost and even if the migrant workers don't do anything still the central government will give money for Ration.  

Referring to the Prime minister's address to the nation a five plus structure was brought in and one of them is talking about technology driven systems.  This is a classic example for that in order to benefit migrant workers a uniform ration facility is bringing up with the national tree which is public distribution ration card that can be used to make ration card shop in the country as now if you move anywhere in the country then a ration card holder may be in Karnataka tomorrow in Rajasthan and so on can take home ration from any  ration shop in that state.  This will be called national portability which is now being defined as one Nation one ration card will be implemented and by August 2020. In this 67 crore will be benefited in 23 States which will be 83% of population then this one Nation one ration card will be 100% covered in whole nation and by this these cards will be covered portability by March 2021. 83% of all the states and union territories will complete automation by 2021.

Government funded houses which will be provided to these people and affordable rental government houses will also be given to the poor people.  The detailed guidelines will be given announced in the basic details on rental accommodation to the poor

This is the way in which we are going to help Shishu loan Mudra from the banks the smallest undertaker's of the bank winner where after the RBI has given three months moratorium period and the government given by the government on time.  people who have taken a loan of Rs 50,000 will have for the next 12 months and interest subvention support of 2% and that support will enter the total release of 1500  crore for all the Shishu loan holders. And now Modi government will give this loan to around 3000 crore people who have taken loan of less than Rs 50,000.  Around 1 lakh 52  thousand people have this loan.  

Next is street vendors and the government is going to facilitate with easy loan axis and this will help 50 lakh Street vendors will be taken care of.  People working at home and street vendor will be benefited.  Around Rs 10,000/- will be given to these people.

Now housing, the govt wish to give middle income group credit linked subsidy scheme which was introduced by government of India in 2017,  this option started in 2017 and it was extended only upto 31st March 2020.  And this came as benefit to a lot of people who want to have simple affordable houses in this scheme which is credit linked subsidy scheme is being extended up to March 2021 government will extend the scheme.   Over 3.3 lakh crore families have been  benefited till now will now get additional we have another 2.5 lakh middle class income families which will join in this one year extension the fare of that scheme was started in 2017 was to end in March 2020 we are extended by one more your till March 2021 and we think in this one year and other 2.5 lakh people will benefit from this so that they can have affordable houses for themselves under this particular scheme credit linked subsidy scheme by doing this with think will immediately be able to speed jobs immediately the demand for steel, cement and also transportation heavy duty will all improve and construction materials will also come to market and therefore this will have immediate impact on demand side.

The states have now been given a push 6000 crore rupees for projects awarded  account from states are getting approved the next 10 days what it shall do for tribals and adivasis will it will generate employment because this six thousand crores proposals which have come from the various states for employing people particularly the tribal adivasi people for afforestation and plantation related words for Artificial regeneration and also for assisted natural regeneration and forest management forest protection forest wildlife related infrastructure development wildlife protection and management and so this is something with the states of activity come forward with proposals which are only about 6000 proposals now but we have understood from them many more such proposals are weighted and that shed immediately create a lot of jobs considering fast approaching this is the time when always tree planting is done and other things happen and therefore this is given expression so that the tribals and adivasis will have some money in their hands by joining in 20 word somewhat to an extent some States also want to extend to semi urban areas and utilise this one that is something with the central government the environment minister will take care of addressing it open areas if you want to use it it's up to the states and their environment minister but not this is going to generate employment for the tribals and adivasis for forestry related work and forest infrastructure limited 6000 crore.

A thirty thousand crores additional emergency working funding for farmers through NABARD.  As Rabi work harvest is over and post harvest rabi related work will go to farmers directly by state cooperative banks and rural cooperative banks will support this.  It will we directly reaching rural India and small farmers.  This will be benefiting 3 crore farmers.

Kisan credit card to encourage concessional credit will be added.  And 2.5 crore farmers will get the benefits and this special day it will includes 2.5 crore farmers who do not have this Kisan credit card with these cards and can avail benefit.  Fishermen and animal husbandry farmers will also be included in this drive.  

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