Highlights: FM Nirmala Sitharaman announces 3rd tranche of Rs 20 lakh crore economic package

LIVE UPDATES: Sitharaman has been announcing the tranches of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi.
LIVE UPDATES: Nirmala Sitharaman addresses a press conference on Rs 20 lakh crore economic package in New Delhi on Friday.(Screengrab)
LIVE UPDATES: Nirmala Sitharaman addresses a press conference on Rs 20 lakh crore economic package in New Delhi on Friday.(Screengrab)
Updated on May 15, 2020 07:18 PM IST
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Hindustan Times, New Delhi | Byhindustantimes.com

Finance Minister Nirmala Sitharaman held a press conference in New Delhi today on Rs 20 lakh crore economic package. This is her third press briefing in as many days.

Sitharaman has been announcing the tranches of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi.

PM Modi had announced the package during his address to the nation on Tuesday, vowing to make the country ‘atmanirbhar’ or self-reliant. He said that this will be 10 per cent of the country’s Gross Domestic Product or GDP.

Sitharaman will be holding daily press conferences till Sunday.

Follow the highlights below:

- A facilitative legal framework will be created to enable farmers for engaging with processors, aggregators, large retailers,exporters in a fair and transparent manner: FM Nirmala Sitharaman

- A central law will be formulated to provide adequate choices to the farmers to sell produce at an attractive price, barrier-free interstate trade and framework for e-trading of agricultural produce: FM Sitharaman

- Govt to implement a Rs 500 crore scheme of infrastructure development related to integrated beekeeping development centres, collection,marketing & storage centres, post-harvest and value addition facilities; this will lead to an increase in income of 2 lakh bee-keepers: FM Sitharaman

- National Medicinal Plants Board will bring 800-hectare area by developing a corridor of medicinal plants along the banks of river Ganga: FM Nirmala Sitharaman

- Rs 4000 crore allocated for promotion of herbal cultivation; 10,00,000 hectare will be covered in the next 2 years: FM Sitharaman

- Government to amend Essential Commodities Act to enable better price realisation for farmers and by attracting investments this will lead to deregulation of prices for cereals, edible oils, oilseeds, pulses, onions, and potatoes. This will now be regulated by market forces and government intervention will only apply in emergency situation like dramatic price hike or any crisis, FM Sitharaman said.

- FM announces Animal Husbandry Infrastructure Development Fund of Rs 15,000 crore to support investment in dairy processing.

- FM Nirmala Sitharaman announces Rs 4,000 crore for promotion of herbal cultivation to bring 10 lakh hectares of land under herbal growing in next 2 years.

- National Animal Disease Control Programme for Foot and Mouth Disease and Brucellosis launched with a total outlay of Rs 13,343 crore: FM Nirmala Sitharaman

- Govt to launch the Rs 20,000 crore Pradhan Mantri Matsya Sampada Yojana for development of marine and inland fisheries. 55 lakh people expected to get employment from this program: FM Sitharaman

- All Covid-19 related deadline extensions relating to fisheries activities, many of them involving overseas contracts, have been honoured. Very many measures which will help marine and coastal farmers have been undertaken as promised. - FM Nirmala Sitharaman

- Government introduces a Rs 10,000 crores scheme for the formalisation of Micro Food Enterprises (MFE); the scheme promotes PM’s vision of ‘Vocal for Local with global outreach’: FM Nirmala Sitharaman

- Government to immediately create a Rs 1 lakh crore Agri-Infrastructure Fund for farm gate infrastructure for farmers: FM Nirmala Sitharaman

- During Covid lockdown period, the demand for milk reduced by 20-25%. A new scheme to provide interest subvention at 2% per annum to dairy cooperatives for 2020-21. The scheme will unlock Rs 5,000 crore additional liquidity, benefit to 2 crore farmers: FM Sitharaman

- During lockdown period Minimum Support Price purchases of amount more than Rs 74,300 crores; PM Kisan fund transfer of Rs 18700 cr: FM Nirmala Sitharaman on additional steps for agriculture during Covid-19

- I will be announcing 11 measures today, of which 8 of them relate to strengthening infrastructure, capacities and building better logistics, while the rest 3 will pertain to governance and administrative reforms: Finance Minister Nirmala Sitharaman

- Today’s announcements will focus on agriculture and allied activities: Finance Minister Nirmala Sitharaman

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Tuesday, May 17, 2022