Special Package Breakup Part-2 : the finance minister will announce

Special Package Breakup Part-2 : the finance minister will announce:

Finance Minister Sitharaman made 9 announcements in the second press conference, 3 for overseas laborers and 2 for small farmers.

Foreign laborers will be given 5 kg of wheat or rice per person and 1 kg of chickpeas per family, the government will spend Rs 3,500 crore.

Those with an annual income of Rs 6 lakh to Rs 18 lakh will now get subsidy on housing loans till March 31 next year.

The finance minister on Thursday gave a breakup of the relief package for the second day in a row under the Rs 20 lakh crore Self-Reliant India Campaign. He made a total of 9 announcements. Out of which 3 were foreign laborers, 2 were small farmers and one declaration was related to currency loans, street vendors, housing and employment in tribal areas.

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1) Free ration to 8 crore foreign workers for next two months

What to get: 5 kg wheat or rice per person and 1 kg chickpea per family.
Who will get it: Those who do not come under the National Food Security Act or who do not have poverty cards from the states will get free foodgrains.
How to get it: The central government will spend Rs 3500 crore. State governments only have to implement it.
When to get: From tomorrow to next two months

2) One country-one ration card in the next three months

How to get: Until now, foreign workers and the poor did not get food grains going to other states through their ration cards. The government will introduce a country-one ration card scheme for such poor.

How to get: Overseas laborers will be able to take rations at controlled shops in other states as well.
When to get: March, 2021 One country-one ration card facility will be launched across the country. But before this, till August, 67 crore poor people in 23 states would get the benefit of ration card portability. By August, 83 per cent of the population benefiting from the public distribution system would be covered under a one-country-one-ration card.

3) Foreign workers will get low rent houses

What to get: Under Pradhan Mantri Awas Yojana, low rent house scheme will be introduced
Who will get it: Foreign workers and the urban poor will benefit
How to get it: The government-funded housing scheme will be converted into a public-private partnership. Incentives will be given to businessmen, manufacturing units and organizations. So as to build rental houses for the workers working in the unit on their own lands.
When to meet: Not yet decided

4) Relief to the recipient of the currency loan

What to get: Small traders have suffered the most due to corona and lockdown. They will get a 2 per cent rebate on interest on government loans.
How to get: 37 lakh small traders whose business is still in the early stages and who have a debt of up to Rs 50,000.
How to get it: The government will spend Rs 1,500 crore for this.
When to get: Businesses that are repaying their debts on time will get a 2% discount on interest for the next 12 months.

5) Subsidy on housing loan to those with an annual income of Rs 6 lakh to Rs 18 lakh

What to get: In May 2017, the government introduced a subsidy scheme for people in the middle class income group to get housing loans. So far, it will benefit 3.3 lakh middle class families. Earlier this scheme was till 31st March 2020. It is being issued through the current financial year.
Who will get: 2.5 lakh middle class families with an annual income of Rs 6 lakh to 18 lakh. They will be given different discounts in interest.
How to get it: The government will spend Rs 70,000 crore.
When will it be available: It will be available till March 31, 2021. It is expected that this will increase demand in the housing sector. The supply of cement and construction materials will speed up. Workers will also get employment.

6) Rs 5 crore for 50 lakh street vendors

What to get: Special credit of up to Rs 10,000 will be made available to street vendors so that they can have cash for their daily needs.
How to get: 50 lakh street vendors whose income has been affected by the lockdown.
How to get: If street vendors encourage digital payments, they will be rewarded. If the record is good in the event of an advance payment of Rs 10,000, the limit will also be increased. The government will spend Rs 5,000 crore on the scheme.
When to get: The government will introduce the scheme within a month

7) 2 lakh crore for 2.5 crore farmers

What to get: Farmers will get loan facility at low interest rates. It is not yet clear how much the discount on interest rates will be
Who will get it: 2.5 crore farmers, fishermen and cattle breeders will get the benefit
How to get: This benefit will be available through Kisan Credit Card. The government has given Rs 2 lakh crore for it
When to meet: The government has not made this clear

8) Rs 30,000 crore help for farmers

What to get: 3 crore small and marginal farmers are facing financial difficulties. Farmers who have less than 1 acre of cultivable land are called marginal farmers.
How to get it: The government will provide Rs 30,000 crore to rural co-operative banks and regional rural banks through NABARD. The money will go to 33 radio co-operative banks, 351 district co-operative banks and 43 regional rural banks.

9) For employment of tribals

Employment opportunities will be created for tribals in cities, villages and small areas. The government will spend Rs 6,000 crore for this. Employment will be provided for forest, wildlife protection, tree planting etc. In addition to the relief package, it has been decided to extend the interest subsidy scheme for farmers till May 31.

The government decided to extend the interest subsidy scheme for small farmers till May 31
The government has increased the interest incentive scheme for small farmers to provide incentives for timely repayment of loans. The farmer takes a short term loan of up to Rs 3 lakh. The government pays them 2% annually. In this way, those who repay the loan on time are given a 3% discount in interest.
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