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Nirmala Sitharaman focuses on agri sector in 3rd tranche of Covid-19 package | Key points

20 lakh core pkgRs 20 lakh core stimulus package Finance Minister Nirmala Sitharaman said Rs 18,700 crore in cash dole out have already been made under the PM Kisan Fund transfers and Rs 6,400 crore of payment in crop insurance have been made. Rs 20 lakh core stimulus package20 lakh core pkg20 lakh core pkg

Finance Minister Nirmala Sitharaman on Friday announced the third tranche of the Rs 20 lakh core stimulus package that was announced by Prime Minister Narendra Modi earlier this week. Addressing a press conference in New Delhi, 20 lakh core pkg Nirmala Sitharaman said the third tranche will deal with providing relief to agriculture and allied industries. She said today’s announcements will focus on infrastructure and building capacities in the agriculture and allied activities

Nirmala Sitharaman focuses on agri sector in 3rd tranche of Covid-19 package | Key points

Speaking about the measures taken by the central government for the agriculture sector in the past two months of Covid-19 pandemic, Nirmala Sitharaman said the government has taken several measures to support farmers, including minimum support price (MSP) purchases of Rs 73,300 crore during the two months of lockdown. Besides this, Rs 18,700 crore in cash dole out were made under the PM Kisan Fund transfers and Rs 6,400 crore of payment in crop insurance have been made.

Here are the key announcements made today:Finance Minister Nirmala Sitharaman announced setting up of fund worth Rs 1 lakh crore for development of agriculture infrastructure for farm-gate infrastructure like cold chain, yards, etc. The impetus of this fund will be to develop farm-gate and aggregation point, affordable and financially viable post-harvest management infrastructure etc.The government has announced a Rs 10,000 crore scheme aimed at formalising Micro Food Enterprises (MFE). Nirmala Sitharaman said the scheme promotes vision of ‘Vocal for Local with Global outreach’. She said the scheme is likely to help 2 lakh MFEs.

The finance minister also called for developing state-specific cluster-based approach (e.g. Mango in UP, Kesar in J&K, Bamboo shoots in North-East, Chilli in Andhra Pradesh, Tapioca in Tamil Nadu etc). She said the expected outcomes of this include improved health and safety standards, integration with retail markets and improved incomes. “It will also help in reaching untapped export markets in view of improved health consciousness,” she said.

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