New Delhi: Finance Minister Nirmala Sitharaman on Friday will announce the 3rd tranche of economic package at 4 PM.
She is likely to address problems faced by hospitality, tourism and transport sectors.
Sitharaman on Thursday announced relief measures to benefit migrant workers, street vendors, small traders, self-employed people and small farmers.
Announcements made in 2nd tranche of economic package
- The announcements made included free foodgrain for migrants for the next two months, introduction of 'One Nation, One Ration Card by March 2021.
- For street vendors, a liquidity provision of Rs 5,000 crore to provide credit facility to 50 lakh street vendors.
- For the lower-middle-income group with an annual income of Rs 6 lakh to 18 lakh, a credit-linked subsidy scheme was introduced in May 2017 which was to last till March 31, 2020. This has been extended to March 31, 2021.
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Prime Minister Narendra Modi had on Tuesday announced a cumulative package of Rs 20 lakh crore (nearly 10 per cent of GDP) to provide relief to various segments of the economy.
This included Rs 1.7 lakh crore package comprising of free foodgrains and cash to poor for three months announced in March, and Rs 5.6 lakh crore stimulus provided through various monetary policy measures by the Reserve Bank of India (RBI).
The remaining of the Rs 20 lakh crore package is being announced in tranches.
Previous Announcements
Sitharman had in the first tranche on Wednesday unveiled a Rs 5.94 lakh crore plan that mostly comprises off-budget items such as Rs 3 lakh crore of credit line to small businesses as support to shadow banks and electricity distributors.
Off-budget items do not result in any outgo from the government exchequer but these will aid in easing liquidity constrains for businesses once the lockdown is lifted.
(With ANI inputs)
