Government economic stimulus for reviving the Indian economy

Government economic stimulus  for reviving the Indian economy

Today's initiative focusses on migrant workers, self employed people, etc.

Migrant workers
1. Free food grain supply to all migrants for next two months for 8 crore migrants. INR 35bn will be spent on these migrants.

2. Portability of ration cards being announced.

3. Affordable rental accomodation - rental housing scheme by incentivizing private sector to build housing complexes and collect rent.

Sishu loans of Mudra
Interest subvention announced for those with loan outstanding of INR50k or less. Total outstanding is INR1.6trn.

Street vendors
Government will launch will facilitate scheme which will help Street vendors avail loans. They can avail loans of around 10k, and a provision of INR 50bn is being provided.

Housing
Extend the credit linked subsidy scheme - Lowest strata of middle income group (annual income of INR0.6mn to 1.8mn) get subsidised interest loans.

Campa funds
INR 60bn worth of projects from states to be approved to employ tribal and adivasi people.

Farmers
1. An INR300bn additional emergency funding line to farmers from NABARD (above the 900bn that they usually do).

2. Kissan credit cards - 2.5 crore farmers don't have them.Concessional credit can be availed. Around 2lac crore of credit is being planned for disbursement.

Overall today's package includes relief measures. These are incremental in nature and more in the regulatory form. Fiscal outgo is not even 10000cr. We await the reflationary measures

Here We are attaching the pdf format of atma nirbhar bharat. Kindly click to to download the file.  

• Next