One Nation One Ration Card, Credit Cards For Poor, Credit Linked Subsidy For Middle Class, As Government Rolls Out The Economic Package

Finance minister Nirmala Sitharaman yesterday came out with her 2nd round of announcements from the 20 lakh crore package. From MSMEs on Wednesday, the focus was on migrants, poor, and middle class on Thursday.

Some big announcements were seen yesterday. This ranged from One Nation One Ration Card to Credit Card for poors. Here are the quick highlights of all the important announcements:

  • Migrants who don’t have NFSA cards (Ration Cards) or state cards, would get 5 Kgs of wheat or rice per person and one kg channa per family per month for the next two months. Move to benefit 8 crore migrants. The cost of the intervention is Rs 3,500 crore.
  • One Nation One Ration Card, that is National Portability Ration Cards can be used in any ration shops that will be applicable across the country. This would come in effect from August 2020. 67 crore beneficiaries in 23 states or 83% of all PDS beneficiaries will get covered. 100% coverage by March 2021.
  • PM Awas Yojana, the scheme for rental housing for migrant workers. Under the scheme, incentives will be offered to private manufacturing units and industrial units to develop affordable housing.
  • Government-funded houses to be converted into affordable renting accommodations for migrant workers. This would be done on PPP on a concessionaire basis. Agencies of the state government to be incentivized for developing affordable housing.
  • Loans under MUDRA Yojana up to Rs 50,000 an interest subvention of 2% for the next 12 months. To benefit 3 crore people with the benefit of Rs 1,500 crore.
  • Credit Card based loan scheme for street vendors to avail Rs 5,000 crore loan facility. Will be given Rs 10,000 of working capital.
  • Tribal people will get employment in forest management, wildlife protection/management, and other forest-related activities. Rs 6, 000 crore funds from this from each state’s CAMPA fund.
  • Credit-linked subsidy scheme for middle-income households in the income group Rs 6-18 Lakh extended to March 2021. Aims to Attract Rs 70,000 crore in housing and kickstart sectors like steel, cement, and create jobs.
  • Rs 30,000 crore additional capital emergency funds through NABARD for post-harvest Rabi and Kharif related activities for small and marginal farmers.
  • Rs 2 lakh crore of concessional credit to boost farming activities and it will benefit 2.5 crore farmers under PM Kisan Credit Card. The benefit extends to animal husbandry and fisheries.

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