Update

Atmanirbhar Bharat Abhiyan (Tranche 2)

14 May 2020

In continuation of Prime Minister Narendra Modi’s ‘Atmanirbhar Bharat Abhiyan’, Finance Minister Nirmala Sitharaman today, in her second tranche of Centre’s INR 20 lakh crore fiscal stimulus, addressed the challenges of food, shelter and livelihood faced by migrant workers, street vendors and small farmers.

From the CEO’s desk

“We must take care of the basic needs of those at the bottom of the pyramid. It must be addressed irrespective of how large or small a business they work for, and should be much higher than the existing INR 15,000/month threshold.”

Vishesh C. Chandiok, CEO, Grant Thornton India

Key highlights from the announcement

	Migrant labour and urban poor Non-PDS holders to get 5 kg wheat or rice per person and 1 kg chana (pulse) per family for two months One Nation One Ration Card scheme to ensure portability of ration cards PM Awas Yojana to provide affordable rental accommodation to migrants and urban poor		Small and marginal farmers NABARD to provide INR 30,000 crore Emergency Working Capital Fund to small and marginal farmers INR 2 lakh crore concessional credit to be extended to 2.5 crore farmers through the Kisan Credit Card
	Street vendors Liquidity of INR 5,000 crore to be provided; this will benefit up to 5 million street vendors		Affordable housing Credit Linked Subsidy Scheme to be extended till March 2021 benefitting 2.5 lakh middle-income families
	Tribal employment INR 6,000 crore push for CAMPA funds to create job opportunities for Tribals/Adivasis across urban, semi-urban and rural areas		MUDRA Shishu loans Interest subvention incentive for loans up to INR 50,000

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