15 May 2020, 01:53 pm By Neha Sinha
FM Nirmala Sitharaman to announce third part of 20 lakh crore package at 4 pm today

Finance Minister Nirmala Sitharaman elaborates on Twenty Lakh Crores package part 3 on Friday. Finance Minister Nirmala Sitharaman will hold a press conference at 4 pm today. This is going to be her third press briefing in as many days. In the second press meeting, Finance Minister said by beginning that initiatives focus on migrant workers, street vendors, small traders, the self-employed & small farmers. Nirmala Sitharaman will be holding daily press conferences till Sunday to elaborates on Twenty Lakh Crores package.

FM Nirmala Sitharaman has been announcing the tranches of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi. PM Modi had announced the package during his address to the nation on Tuesday, vowing to make the country ‘Atmanirbhar’ or self-reliant. He said that this will be 10 percent of the country’s Gross Domestic Product or GDP.

Third Part of 20 lakh crore package

Free food grains and pulses for migrants, more jobs for tribals and those in rural areas, and credit to small enterprises, street vendors and small farmers - these were some of the highlights of the second phase of the package which Sitharaman announced on Thursday.

For a total of Rs 3.16 lakh crore, the schemes include 5 kg of rice or wheat and 1 kg of chana (chickpea) per month, for 80 million migrant families for two months. It will cost Rs 3.5 billion rupees, Sitharaman said at his press conference on Thursday.

Should Read: Twenty Lakh Crores Package Part 2

An interest discount scheme of Rs 1.5 billion for 30 million units, a special credit line of Rs 5 billion for five million street vendors, a fund from the Compensatory Forestry Planning and Management Authority (CAMPA ) of Rs 6 billion to provide jobs for the tribes, a Rs 30,000 emergency working capital plan for farmers, an increase of Rs 70 billion for lower-middle-class housing and the concessionary credit offer of Rs 2 -lakh crore to 25 million farmers through Kisan Credit Cards was the other thing she announced.

FM Nirmala Sitharaman to announce third part of 20 lakh crore package

FM Nirmala Sitharaman said that the short and long-term measures are aimed at supporting the poor, including migrants, farmers, small businesses, and street vendors. 'Farmers and workers are the lockdowns of this nation. They serve us all with sweat and work,' She said Thursday.

The first tranche of the package, which totaled around Rs 5.9 lakh crore, which Sitharaman announced on Wednesday, focused mainly on providing easy credit facilities to micro, small and medium-sized enterprises (MSMEs) and non-bank financial companies (NBFC).