2nd economic package tranche: Atma Nirbhar Bharat

News: Union Finance Ministry announced the 2nd economic package under Atma Nirbhar Bharat for supporting the poor, including migrants, farmers, small businesses and street vendors.


Key measures:

  • Migrants:
    • Free food grains will be supplied to all Migrant labourers for 2 months i.e. May and June,2020.Migrant labourers not covered under National Food Security Act(NFSA),2013 or without a ration card in the State/UT in which they are stranded at present will be eligible for this.
    • Technology systems to be used to enable Migrants to access PDS (Ration) from any Fair Price Shops in India so as to achieve 100% National portability by March, 2021 under One Nation one Ration Card scheme.
    • The Central Government will launch a scheme for migrant workers and urban poor to provide ease of living at affordable rent.
  • Street Vendors: Special scheme to facilitate easy access to credit to Street vendors. 50 lakh street vendors will be benefited under this scheme and credit of Rs. 5,000 crore would flow to them.
  • Job Creation: Rs,6000 crore funds under Compensatory Afforestation Management & Planning Authority(CAMPA) will be used for Afforestation and Plantation works including in urban areas.This will create job opportunities.
  • MUDRA loans: Government will provide Interest subvention of 2% for prompt payees for a period of 12 months to MUDRA Shishu loanees, who have loans below Rs 50,000.
  • Affordable Housing: Credit linked subsidy scheme for the middle income group (annual income between Rs 6 to 18 lakh) will be extended up to March 31,2020.
  • NABARD will extend additional re-finance support of Rs 30,000 crore for meeting crop loan requirements of Rural Cooperative Banks and RRBs.
  • Farmers: Special drive to be conducted to provide concessional credit to PM-KISAN beneficiaries through Kisan Credit Cards.