FM unveiled third tranche of stimulus package: Key Highlights

Nirmala sitharaman announced more details on the ‘Aatma Nirbhar Bharat’ schemes in her third briefing today. So far, the Finance Minister has addressed twice before on the breakups of the mega stimulus package in order to revive the economy in India bearing the fallout of the COVID-19 lockdown. The Day 3 of Atma Nirbhar Bharat Abhiyan package focused on agriculture & allied activities. Here are the key highlights of today’s press conference: 

FM unveiled third tranche of stimulus package: Key Highlights

    1. A new scheme has been launched for interest subvention @ 2% per annum to dairy cooperatives for 2020-21 aimed at unlocking Rs 5000 crores additional liquidity, benefitting 2 crore farmers,
    2. To help Fisheries sector, operations of Marine Capture Fisheries and Aquaculture has been relaxed to cover Inland Fisheries.
    3. In a move to strengthen infrastructure in agriculture, financing facility of Rs. 1 lakh crore will be provided for funding Agriculture Infrastructure Projects at farm-gate & aggregation points.
    4. Aiming to implement PM’s vision of ‘Vocal for Local with Global outreach’, a scheme will be launched to help 2 lakh Micro Food Enterprises; Improved health and safety standards, integration with retail markets and improved incomes to be key focus areas.
    5. Government to launch Pradhan Mantri Matsya Sampada Yojana for integrated, sustainable, inclusive development of marine and inland fisheries to plug critical gaps in fisheries value chain; move will provide employment to over 55 lakh persons & double exports to Rs 1 lakh crore.
    6. National Animal Disease Control Programme has been launched with total outlay of Rs. 13,343 crores for 100% vaccination of cattle, buffalo, sheep, goat and pig population in India.
    7. Government announces an Animal Husbandry Infrastructure Development Fund worth Rs. 15,000 crore to support private investment in Dairy Processing, value addition and cattle feed infrastructure.
    8. To promote Herbal Cultivation in India Government commits Rs 4000 crore; move aims to cover 10 lakh hectare under herbal cultivation in 2 years; corridor of medicinal plants to come up across banks of Ganga.
    9. Government to implement a scheme for infrastructure development related to Beekeeping; aims to increase income for 2 lakh beekeepers with special thrust on capacity building of women.
    10. Government extends Operation Greens from Tomatoes, Onion and Potatoes (TOP) to ALL fruits and vegetables.
    11. Government will amend Essential Commodities Act to enable better price realisation for farmers; Agriculture food stuffs including cereals, edible oils, oilseeds, pulses, onions and potato will be deregulated.
    12. Government to bring in law to implement agriculture marketing reforms to provide marketing choices to farmers; law will provide adequate choices to farmer to sell produce at attractive price.
    13. To provide assurance to farmer on Agriculture Produce Price and Quality, facilitative legal framework will be created to enable farmers for engaging with processors, aggregators, large retailers, exporters etc. in fair and transparent manner.

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