Union finance minister Nirmala Sitharaman on Saturday unveiled the fourth tranche of government’s Rs 20 lakh crore economic package to provide relief to various segments of the economy battered by coronavirus lockdown.
The finance minister said that today’s announcements will be focussed on structural reforms in new sectors, where growth is possible and employment is generated. She also said that many sectors need policy simplification, to make it simpler for people to understand what sector can give, participate in activities & bring transparency. Once we decongest sectors, we can boost the sector, for growth and jobs.
Earlier on Friday, Sitharaman had announced Rs 1 lakh crore Agri Infrastructure Fund for farm gate infrastructure for farmers and Rs 10,000 crore scheme for the formalisation of Micro Food Enterprises (MFEs) under the Rs 20 lakh crore stimulus package.
In the first three instalments government announced a slew of measures for agriculture sector, amended the stringent Essential Commodities Act, provided credit lines to smaller firms, concessional credit to farmers, free food grains to migrant workers, working capital incentives for street vendors and support to shadow banking and electricity distributors, among other initiatives.