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May 14, 2020

FM Stimulus Package for Labour, Self Employed, Traders & Housing on 14 May 2020

by facelesscompliance in Compliance Law, Corporate Law

FM Stimulus Package for Labour, Self Employed, Traders & Housing on 14 May 2020

FM started her speech saying today’s measures to focus on migrant workers, small farmers, small traders, street vendors, in all 9 steps to be announced

Today’s initiatives include a total of 9 measures:

3 related to Migrant workers

1 related to Street vendors

1 for Small traders

1  for Self-employed people

2 on Small farmers

1 on housing

2.5 million new Kisan Credit Cards issued in the last two months. These credit card holders include marginal farmers.

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1) Direct Support to Farmers & Rural Economy provided post COVID19 as part of Aatma Nirbhar Bharat Package

2) Liquidity Support to Farmers & Rural Economy provided post COVID19 as part of Aatma Nirbhar Bharat Package

Govt has permitted state govts to utilise SDRF for setting up shelter for migrants&providing them food&water etc…We are conscious, we are attending to the migrants and giving them in various different ways

3) Govt permitted State Governments to utilise SDRF for setting up shelter for migrants. Central Government released Rs 11002 crore of its contribution in advance to all States on 3rd April

4) MGNREGA support to returning Migrants. 14.62 crore person-days of work generated till 13th May 2020. Actual Expenditure till date is around Rs. 10,000 Cr

5) ‘Government Committed to the welfare of Workers’:at the #AatmaNirbharBharatPackage by Code of Conduct for Labour

6) Extending EPF Support for business and organised workers for another 3 months for salary months of June, July and August 2020 – will provide liquidity for workers in MSME and other Businesses

7) We want to have a better definition for inter-state migrant workers, to better reach benefits to them Portability of welfare benefits for migrant workers and making ESIC coverage pan India are other aspects we are working on

8) Free Food grain supply to #Migrants for 2 months. About 8 crores migrants to benefit from this. Rs. 3500  Crore will be spent on this intervention for 2 months

9) One Nation One Ration Card’ by March 2021

10) Migrant Workers / Urban Poor to have Affordable Rental Housing Complexes (ARHC): Government will launch a scheme under

11) Government of India will provide Interest subvention of 2% for prompt #MUDRA-Shishu Loans payees for a period of 12 months. Relief of Rs 1500 cr to MUDRA-Shishu loanees

12) Government to support nearly 50 lakh street vendors. Rs 5000 cr Special Credit Facility for #StreetVendors

13) Government to extend the Credit Linked Subsidy Scheme #CLSS up to March 2021; 2.5 lakhs middle income families to benefit during 2020-21

14) To create job opportunities for #Tribals /Adivasis -Plans worth Rs 6000 crores to be approved shortly under Compensatory Afforestation Management & Planning Authority (#CAMPA) Funds

15) NABARD to extend additional re-finance support of Rs 30,000 crores for crop loan requirement of Rural Co-op banks and RRB

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