New Delhi: The government on Wednesday decided to provide 2 per cent interest subvention to borrowers under the 'Shishu' category of the flagship Pradhan Mantri MUDRA Yojana (PMMY).
Under the Shishu category, collateral free loans of up to Rs 50,000 are given to beneficiaries.
The Union Cabinet approved the scheme for interest subvention of 2 per cent to Shishu loan category borrowers under PMMY, outstanding as on March 31, 2020, for a period of 12 months to eligible borrowers, Information and Broadcasting Minister Prakash Javadekar said.
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The PMMY was launched by Prime Minister Narendra Modi on April 8, 2015 for providing loans up to 10 lakh to non-corporate, non-farm small/micro enterprises.
These loans are classified as MUDRA loans under PMMY. These loans are given by commercial banks, RRBs, small finance banks, MFIs and NBFCs.
Govt approves Rs 15,000 cr infra fund for dairy, poultry and meat units
The government also announced a new Rs 15,000 crore infrastructure fund to provide interest subvention of up to 3 per cent to private players for setting up of dairy, poultry and meat processing units.
"A Rs 15,000 crore fund has been approved by the Cabinet that will be open to all and will help in increasing milk production, boost exports and create 35 lakh jobs in the country," Information and Broadcasting Minister Prakash Javadekar told reporters.
Animal Husbandry Minister Giriraj Singh said that the new infrastructure fund is part of the Rs 20 lakh crore economic package announced to help those affected due to the lockdown clamped to prevent the spread of COVID-19.
"For the first time, we will give interest subvention up to 3 per cent to private players for setting up of processing infrastructure for dairy, poultry and meat," he added.
Cabinet approves declaration of Kushinagar airport in UP as international airport
The Union Cabinet approved the declaration of the airport in Uttar Pradesh's Kushinagar as an international airport, stating it will offer improved connectivity to the important Buddhist pilgrimage site.
"You know that Kushinagar is the mid-point of the Buddhist circuit. It has pilgrimage sites in Lumbini, Shravasti, Kapilvastu nearby it. A little farther, it has sites in Sarnath and Gaya," Union Environment Minister Prakash Javadekar told the media after a Cabinet meeting.
"However, there was no airport there of international standards. Kushinagar airport is being declared as an international airport. A 3-km-long runway strip has already been made. Now, even a big aircraft of Airbus can land at the airport," he added.
Later, in an official statement, the Central government said around 200-300 devotees from Thailand, Cambodia, Japan, Myanmar, etc come to offer prayers at Kushinagar on any given day.
Kushinagar is an important Buddhist pilgrimage site, where Gautama Buddha attained Mahaparinirvana after his death, it explained.
"However, this international tourist destination has no direct connectivity, which has been a long pending demand of the visitors," it said.
"The international airport is expected to boost the already growing tourism and hospitality ecosystem in the country," it noted.
The "Buddhist Circuit" is a key pilgrimage destination for 530 million practicing Buddhists across the globe, the statement noted.
Several other Buddhist sites are present near Kushinagar like Sravasti (238 km), Kapilvastu (190 km) and Lumbini (195 km) and that makes it an attraction for both followers and visitors alike, the government said.
"Hence declaration of Kushinagar airport as an 'International Airport' will offer improved connectivity, wider choice of services at competitive costs to the air-travellers resulting in boosting of domestic/international tourism and economic development of the region," it added.
(PTI Report)
