Opportunity Post COVID – 19

Direct support to farmer & Rural economy provided Post covid – opportunity

  • 3 crore farmer with agricultural loan of rs.4.22 lakh crore availed the benefit of month loan mortorium
  • intrest subvention and prompt repayment incentives on crop loans , due from 1st march , extended upto extendede up to 31st may 220
  • 25 lakh new kisan credit sanctioned with a loan limit rs. 25,000 cr .

Liquidity support To Farmers & Rural Economic Provided Post COVID 19

  • 63 lakh loan of rs. 86,600 crore approved in agriculture between 1.3.2020 to 30.04.2020
  • refinancing of Rs . 29,500 cr provided by NABARD , to coorporates bankl and regional rural bank’s in march , 2020
  • Support of rs. 4,200 crore provided under Rural infrastructure development fund to state during march 2020 for rural infrastructure
  • working capital limit of rs. 6,700 crore sanctioned for procurement of agriculture produced to state government entitises since march , 2020 -opportunity

Support For Migrant And Arban Poor During Last 2 Month

  • Government of india has permitted state government to utilized state disaster responds fund (SDRF) for setting up sheltert for migrant and povinding them food and water etc.
  • Cenral government also relesed rs. 11002 crore for its contribution in advance to all states on 3rd april , to augment funds in their SDRF
  • hygnically prerpared three meals a day provided by the resident of shelter for Urban homeless (SUH) during the lockdown w.e.f march 28 , 2020
  • 12,00 SGHs have produced three crore mask and 1.20 lakh liters of senitizer . tis gave addition emplyoment apportunity to the urban poor
  • Disbursal of resolving fund (RF) to self help group was on -boarded on paisa portal in april 2020 on a pilot basis in gujrat and his now being rolled out cross all the state in may 2020
  • 7,200 new self help group of urban poor have been formed during the period starting 15th march , 2020

MGNRES Support to returning Migrants

  • 14.62 crore person-days of work generated tioll 13th may 2020
  • Actual Expendicure till date is around Rs 10,000 cr
  • work offerd to 2.33 crore wage seeker yesterday in 1.87 lac gram panchayat
  • 40-50% more personal enrolled ,compared to may last year
  • average wage rate rose to rs.202 from Rs. 182 in last FY
  • drive being undertaken to enroll returning migrants
  • state/UTs advised to provided works to migrant workers as per the provisions of the Act
  • planning for continuing MNREGA works in monsoon as well:plantations, horiculture, livestock related sheds-opportunity

Labour Codes – Benefits For Workers

  • Universaliozation of right of minimum wages and timely payment of wage to all workers including unorganized workers- presently minimum wages applicable to only 30% of workers.
  • Statutory concept of national floor wage intrtoduced: will reduce regional disparity in minimum wages.
  • fixation of minimum wages simplified, leading to less number of rates of minimum wages and better compliance
  • appointment letter for all workers- this will promote formalization
  • annual health check -up for employees.
  • occupational safety & health (OSH) code also applicable to establishment engaged in work of hazourdous nature even with threshold of less than 10 workers.

Affordable Rental Housing Complexes (ARHC) For Migrant Workers/Urban Poor

migrant labour/urban poor face challeges in getting houses at afforable rent , gov will launched a scheme underPMKY for migrant labour/urban poor to provide ease of living at afforable rent by,

  1. converting government funded housing in the cities into affortable rental housing complexes (ARHC) under PPP mode througgh concessionate;
  2. Incentivizing manufacturing units, industries, institutions, association to develop afforable rental housing complex (ARHC) on their private land and operates-

Rs.1500 crores interest subvention for MUDRA-Shishu Loans

  • Small business under MUDRA have been disrupted the most & has also impacted their capacity to pay EMIs.
  • Loan moratorium has alredy been granted by RBI
  • The current portfolio of MUDRA- shishu loan is- rs 1.62 lakh crore (maximum loan amount of 50,000 Rs.)
  • Government of india will provide intrest subvention of 2% for prompt payees for a period of 12 months.
  • relilf of Rs 1500 cr to MUDRA- shishu loanes

Rs 5000 cr special credit facility for street vendors

  • Adverse impact on the liveliood of the street vendors due to covid 19
  • overnment will launch a special scheme with in month to facilitate easy access to credit to street vendors
  • initial working capital up to Rs. 10,000
  • digital payments will be incentivized through monetary rewards and enhanced working capital credit would be made available for good repayment behaviour.
  • will support nearly 50 lakh street vendors
  • will provide liquidity of rs. 5000 crores

Rs 70,000 crore Boost To Housing Sector And Middle Income Group Through Extension Of CLSS

  • credit Linked subsidy scheme For middle income group (Annual income :6-8 lakh) was operationaalized from may 2017
  • CLSS was extended up to 31st march 2020
  • scheme has benefited 3.3 lakh middle clas families so far
  • government will extend the CLSS scheme up to march 2021
  • 2.5 lakhs middle income familes will benifits during 2020-21
  • will lead to investment of over rs.70,000 crore in housing
  • will crerate job and will stimulate demand for stel, cement, transport and other construction materials

Rs. 30,000 crores Additional Emergency Working Capital Funding For Farmers through NABARD

  • Inadequate Financial Resources with small and marginal farmers
  • RRBs and rural cooperative banks are main source for credit
  • NABARD will extend additional refinace support of rs. 30,000 rsr crore for crop loan requirement of rural co-op banks & RRBs.
  • This is over and above rs 90,000 crore to be provided by NABARD through the normal refinance routes during this year
  • Front – loaded on-tap facilities to 33 state co-operative banks, 351 districs co-operative banks and 43 RRBs available on tap based on their lending
  • To benefit around 3 crore farmers – most small and marginal farmers
  • to meet post harvest (Rabi)& current kharif requirement in may/june

Rs 2 lakh Crore Concessional Credit Boost To 2.5 crore Farmers Through Kisan Credit Cards

  • Special drive to be undertaken to provide concesion credit to PM-KISAN beneficial through Kisan credit cards- opportunity
  • fisherman and animal husbandary farmers will also be included in this drive
  • this will be enable such farmers to gain access to institutional credit at concessional interest rate
  • 2.5 crore farmer will be coverd and will benefits from credit flow of about Rs 2 lakh crores-opportunity

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