FM announces key measures under 3rd tranche of economic stimulus

FM announces key measures under 3rd tranche of economic stimulus

Nirmala Sitharaman Nirmala Sitharaman

Following the Rs 20 lakh crore stimulus, the Finance Minister of India, Nirmala Sitharam conducted her third tranche of economic stimulus. She expressed hope amid the coronavirus lockdown. "In today's situation, if a challenge can be treated as an opportunity to improve the system and bring new technology for the benefit of farmers and people then why not to do it", said Sitharaman.

Also read: For whom the FM announced the measures?

Other measures announced:

Government to amend the Essential Commodities Act to enable better price realisation for farmers; agriculture products including cereals, edible oils, oilseeds, pulses, onions, and potatoes to be de-regulated

Operation Greens to be extended from Tomatoes, Onions and Potatoes (TOP) to all fruits and vegetables (TOTAL)

Govt to implement a Rs 500 crore scheme of infrastructure development related to integrated beekeeping development centres, collection,marketing & storage centres, post-harvest and value addition facilities; this will lead to an increase in income of 2 lakh bee-keepers

National Medicinal Plants Board will bring 800-hectare area by developing a corridor of medicinal plants along the banks of river Ganga

Rs 4000 crore allocated for promotion of herbal cultivation; 10,00,000 hectare will be covered in the next 2 years

Animal Husbandry Infrastructure Development Fund of Rs 15,000 crores will be set up

National Animal Disease Control Programme for Foot and Mouth Disease and Brucellosis launched with a total outlay of Rs 13,343 cr: FM Nirmal

Govt to launch the Rs 20,000 crore Pradhan Mantri Matsya Sampada Yojana for development of marine and inland fisheries. 55 lakh people expected to get employment from this program: FM

All COVID19 related deadline extensions relating to fisheries activities, many of them involving overseas contracts, have been honoured. Very many measures which will help marine and coastal farmers have been undertaken as promised. - FM Nirmala Sitharaman

Government introduces a Rs 10,000 crores scheme for the formalisation of Micro Food Enterprises (MFE); the scheme promotes PM's vision of 'Vocal for Local with global outreach': FM Nirmala Sitharaman

Government to immediately create a Rs 1 lakh crore Agri-Infrastructure Fund for farm gate infrastructure for farmers

During COVID lockdown period, the demand for milk reduced by 20-25%. A new scheme to provide interest subvention at 2% per annum to dairy cooperatives for 2020-21. The scheme will unlock Rs 5000 cr additional liquidity, benefit to 2 cr farmers

During lockdown period Minimum Support Price purchases of amount more than Rs 74,300 crores; PM Kisan fund transfer of Rs 18700 cr on additional steps for agriculture during COVID19

I will be announcing 11 measures today, of which 8 of them relate to strengthening infrastructure, capacities and building better logistics, while the rest 3 will pertain to governance and administrative reforms

Today's announcements will focus on agriculture and allied activities

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Edited By: Admin
Published On: May 15, 2020