Focus of 4th tranche of economic package is structural reforms: FM Nirmala Sitharaman
The finance minister held her first press conference to share details of the stimulus package on Wednesday.Updated: May 16, 2020, 17:46 IST
Union finance minister Nirmala Sitharaman said people can expect more investment and productivity following the reform announcements on Saturday as she unveiled the fourth tranche of Centre’s Rs 20 lakh crore fiscal stimulus.
“Today’s announcements are focussed on structural reforms,” Nirmala Sitharaman said in her fourth press briefing in as many days.
She said many sectors need policy simplification as she began announcing the fourth tranche of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi during his address to the nation on May 12, vowing to make India atmanirbhar or self-reliant.
ALSO WATCH | ‘Middle class still groping’: Corporate leader on Rs 20 lakh crore stimulus
The finance minister held her first press conference to share details of the stimulus package on Wednesday. The second and third phase of announcements on Centre’s economic package were made on Thursday and 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 on Friday.
She also announced three major reforms in the agricultural sector—amendments to Essential Commodities Act to enable better price realisation for farmers, agriculture marketing reforms to provide marketing choices to farmers and agriculture produce price and quality assurance.
Sitharaman announced the second tranche of Rs 20 lakh crore stimulus package on Thursday with a focus on migrant workers, street vendors, small traders, self-employed people and small farmers.
‘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 came under the Covid-19 stimulus package.