ATMA NIRBHAR BHARAT ABHIYAN –  TRANCHE II 

PM Modi on 13 May in his speech said the 4 pillars our economy are Land , Liquidity , Labour and Laws. After introducing a slew of measures on Tuesday,12 May 2020 to infuse liquidity into the economy through MSME and Discomms , next in line is Labour reforms. In her second press conference on Wednesday, 13 May 2020. The objective is suit to be achieved through 9 radical steps with focus on VARIOUS LABOUR SECTORS

Covid 19

1. MIGRANT WORKERS – FREE FOOD

The government will give 5 kgs/person of wheat or rice and 1 kg/family of channa for non-PDS card holders for 2 months at 0 cost. This will entail Rs 3,500 crore and is likely to benefit around 8 crore migrants 

2. MIGRANT WORKERS – ONE NATION , ONE RATION CARD

The government is coming up with National Portability Cards (also known as One Nation One Ration Card) which can be used in any ration shops that will be applicable across the country. By Auguist 2020, 67 cr beneficiaries in 23 states or 83% of all PDS beneficiaries will get covered. By March 2021, 100 per cent will be covered. 

3. MIGRANT WORKERS – RENTAL ACCOMMODATION

  • The state and Centre are working together to ensure migrants return to their home states. There are 1,200 Shramik Special trains available and ready to ply. Every day, at least 300 trains can run. Arrangements regarding the same are in process.
  • Under PM Awas Yojaan, scheme for rental housing for migrant workers. Under the scheme :
    • incentives will be offered to private manufacturing units and industrial units to develop Affordable Rental Housing Complexes on their private land 
    • government funded houses  will be converted into affordable renting accommodations for migrant workers. on PPP on concessionaire basis. 
    • State government agencies will also be incentivised to develop affordable housing 

4. MUDRA SHISHU LOAN – 

  • Those who have availed loans up to Rs 50,000, an interest subvention of 2% for next 12 months after the moratorium period extended by RBI ends. 
  • Three crore people will get benefit of Rs 1500 crore. 
  • The current portfolio of MUDRA-Shishu loans is Rs 1.62 lakh crore (max loan amount of Rs 50,000)

5. STREET VENDORs

  • Special scheme for street vendors to avail Rs 5,000 crore loan facility. Will be given Rs 10,000 of working capital. 
  • special scheme will be launched within a month to facilitate easy access to credit to street vendors

6. AFFORDABLE HOUSING –

  • Credit-linked subsidy scheme ( CLSS) for middle income households in the income group Rs 6-18 Lakh extended to March 2021. 
  • The CLSS scheme was operationalised from May 2017 and extended up to March, 2020.
  • It has been extended till March 2021. This will lead to investments of Rs 70,000 crore in housing and kickstart sectors like steel, cement and create jobs. 

7. SMALL FARMERS – NABARD SUPPORT

  • The government is extending 63 lakh loans of Rs 30,000 crore additional capital emergency funds through NABARD for post-harvest Rabi and Kharif related activities for small and marginal farmers. 
  • (NOTE: This is over and above Rs 90,000 crore to be provided by NABARD through normal refinance route during this year)

8. SMALL FARMERS – CREDIT FACILITY

Under the PM Kisan Credit Card, Rs 2 lakh crore of concessional credit to boost farming activities and it will benefit 2.5 crore farmers. Those in animal husbandry and fisheries will also be included. 

Working capital limit of Rs 6,700 crore sanctioned for procurement of agriculture produce to state government entities since March 2020

9 . EMPLOYMENT GENERATION 

Rs 6,000 cr worth of proposals have come from states under Compensatory Afforestation Fund Management and Planning Authority (CAMPA) funds. Tribal people will get employment in forest managament, wildlife protection/management and other forest related activities. 

THIS IS DEFINITELY A MOVE WELCOMED BY INDIA INC. SINCE IS IS SOUGHT TO RELIVE THE WOES OF DISTRESSED WORKERS. Let us support the initiatives of Ministry and help the migrant workers and vendors in all ways we can . We can provide them food and some monetary help as per our capacity.

Author Wishes all the best to emerge healthy in the turmoil of COVID-19.

The author can also be reached at onesc2019@gmail.com or onestopconsultants.com 

Author Bio

Qualification: CA in Practice
Company: www.consultantsonestop.com
Location: DELHI, New Delhi, IN
Member Since: 12 Mar 2020 | Total Posts: 4
CA Onam aggarwal is the Managing Partner at ONE STOP CONSULTANTS AND SERVICES LLP. She is an associate member of the Institute of Chartered Accountants of India. Earlier, She was associated with Deloitte India in Audit and Assurance division. She is an alumni of Shri Ram College of Commerce ranked a View Full Profile

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