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Live Updates: FM Nirmala Sitharaman’s Third Tranche Of Economic Stimulus
Finance Minister Nirmala Sitharaman is set to outline the third tranche of the economic stimulus. Here is the live blog.
Govt. Clarified On Tax Refund
Sitharaman said that the government is not sitting on the taxpayers money and will issue them immediately.
Standard mechanism for predictable pricing
Legal framework so as to enable farmers in setting their own price. Before sowing, assured price return quantity for farmers. To enhance opportunities to sell and availability of farming technology.
Central law for farmers to enable them to sell their produce across states.
E-trading platform for produce to be facilitated. Inter-state trade to be made possible without any barrier. Right now, farmers are bound to sell agricultural products only to licensees in APMCs. Such restriction of sale is not there for any industrial produce. This restriction results in hindrance in the free flow of agricultural produce. It also results in less price realisation for farmers. - FM Sitharaman
Essential Commodity Act Amended
The Act has been amended by degulating it. No stock limit will be applied for food processors.
Operation Green
For supply chain that have been disrupted by the lockdown Rs. 500 crores will be granted. Includes all perishable items 50% subsidy on transport There will be subsidy on storage of 50%. The scheme shall run as a pilot project for initially 6 months. And once the pilot plan is cleared, the plan shall be extended.
Rs. 500 crore for Bee-Keeping
The scheme will benefit 2 lakh keepers for their bee-keeping initiatives. Production of wax to be encouraged.
Promotion of herbal cultivation
Rs 4,000 crore to be allocated for this scheme. Under herbal cultivation up to 10 lakh hectare will be brought This is expected to result in the generation of Rs 5,000 crore income for farmers 800 hectares will be allocated alongside Ganga river for growing herbal and medicinal plants.
Animal Husbandry Infrastructure Fund
Rs 15,000 crores fund to be created. For dairy infrastructure and cattle feed infrastructure This shall incentivise private investments.
National Animal Disease Programme
Rs 13,343 crore have been earmarked for the programme. Will ensure 100% vaccination of cattle, buffalo, sheep and pigs against foot and mouth disease (FMD): Sitharaman
Logistics for marine and inland fisheries activities under PMMSY
Rs 20,000 crore fund to be created. 55 lakh people will get employment in in the sector. And this would likely contribute to India's exports Rs 1 lakh crore Will help in formulating better standards, new fishing vessels, harbours, insurance for person and boats. It is to empower people to make a livelihood for themselves. Making sure India is helped to stand on its own: Sitharaman
Rs. 10000 Crore For Micro Food Enterprises
This scheme shall be cluster based approach depending on the location so Bihar will go for Makhana and similarly Kashmir would engage in Saffron. This will enable locally-made products reach the global markets
Rs. 1 Lakh Crore For Agri-Infrastructure
This financing facility will be provided for funding Agri-Infrastructure at farm gate and aggregators. For cold chains and post harvest infrastructure Specially for private and startups
11 Measures For farmers of India
Of these 8 will be related to logistics and storage 3 Measures Pertain To Governance
Focus To Be On Agriculture and Allied activities Today
The third tranche will cover agriculture and allied activities.
Previous Tranches To Result In Fiscal Impact Of Rs. 66,500 Crore
On May 14 Barclays estimated the impact of the announcement made in the last two days as part of the Aatma Nirbhar Bharat plan at Rs 66,500 crore or 0.34 per cent of the GDP.
Focus To Be On Agriculture and Infra Sectors
Today the focus area as per CNBC TV 18 report shall be reforms in agriculture and infra space. Plus there can be announcements pertaining to LTCG, DDT tax cuts.
