7 sectors in focus under last tranche of economic stimulus: Nirmala Sitharaman
Union finance minister Nirmala Sitharaman said on Sunday seven sectors, including MGNREGA, education and health, will be the focus of the fifth and last tranche of the Rs 20 lakh crore stimulus package to boost the economy hit by the coronavirus pandemic and the lockdown.
“Today, I have seven steps to tell you. MGNREGA, health both in rural and urban, education, business and Covid, decriminalisation of companies act, ease of doing business, public sector and enterprises and state government and resources related to the state governments,” she said.
The finance minister said on Saturday said eight sectors will undergo structural reforms, which include coal, minerals, defence production, airspace managements & airports, MRO, power distribution companies in Union territories, space and atomic energy.
On Friday, Sitharaman had announced Rs 1 lakh crore Agri Infrastructure Fund for farm gate infrastructure for farmers and Rs 10,000 crore scheme for the formalisation of Micro Food Enterprises (MFEs) under the Rs 20 lakh crore stimulus package.
She also proposed amendments to the Essential Commodities Act to enable better price realisation for farmers and said no stock limit should apply to processors or value chain participants.
The finance minister had announced the ‘One Nation One Ration Card’, free food grain supply to migrants and creation of affordable rental housing complexes (ARHC) in urban areas for migrant workers and poor under the Covid-19 stimulus package on Thursday.
She focused on the Micro Small and Medium Enterprises (MSMEs) and the middle class on Wednesday.
They came after Prime Minister Narendra Modi on Tuesday announced the economic package for the country to become ‘self-reliant’ and deal with Covid-19 crisis.