Update

Atmanirbhar Bharat Abhiyan (Tranche 2)

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

NewIcon-08.png 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
NewIcon-09.png 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
NewIcon-10.png Street vendors
Liquidity of INR 5,000 crore to be provided; this will benefit up to 5 million street vendors
NewIcon-11.png Affordable housing
Credit Linked Subsidy Scheme to be extended till March 2021 benefitting 2.5 lakh middle-income families
NewIcon-12.png Tribal employment
INR 6,000 crore push for CAMPA funds to create job opportunities for Tribals/Adivasis across urban, semi-urban and rural areas
NewIcon-03.png MUDRA Shishu loans
Interest subvention incentive for loans up to INR 50,000