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Friday, April 16, 2021

9 point stimulus package for Indian Migrant workers & migrant workers

Undoubtedly, migrant workers and daily wage labourers have been the worst-hit section of the population in the Covid-19 crisis. We have documented the 9 Point package for Indian Migrant workers that FM announced.

Here are the 3 major plans announced by the FM in the second tranche for migrants workers

  1. Free food grains: Centre to spend Rs 3500 crore for the next 2 months to provide 5kg rice/wheat and 1 kg chana to all migrants workers, including non-ration card holders. Around 80 million migrants workers will be covered under this initiative.
  2. Affordable rental stay: Reasonably-priced rental houses will be arranged for the urban poor and migrants workers under the Pradhan Mantri Awas Yojana through public-private partnership model.
  3. One nation, one ration card: National portability of ration cards have been announced for 67 million migrants workers in 23 states. All beneficiaries will be covered under the plan by March next year. 

 

In addition, The second tranche of Centre’s package will benefit migrant workers, self-employed individuals, small growers and street vendors. 

Along with the above 3 initiatives, here are the 6 more plans worth Rs 10,000 crore have been launched to cover around 187,000 gram panchayats.

  1. Mudra Shishu Loans: With 2 per cent a year interest subvention support at Rs 1500 crore, these loans can benefit around 30 million people.
  2. Loan for street vendors: Each street vendor can avail off Rs 10,000 loans from Rs 5,000 crore credit facility after the nationwide lockdown is lifted.
  3. Housing for middle-income groups: Affordable houses for those earning Rs 6 lakh to Rs 18 lakh per annum. This Rs 70,000-crore scheme to benefit around 600,000 people across the nation.
  4. Job creation: The states have suggested the Centre to use Rs 6,000 crore funds to be invested in afforestaton and similar projects to create employment for rural and tribal population.
  5. Funds to farmers: Along with the Rs 90,000 crore provided by Nabard, the Centre will extend Rs 30,000 crore working capital soon after the rabi season. This monetary boost will help around 30 million small farmers to prepare for the kharif season.
  6. Concessional credit system: Concessional credit valued at Rs 2 trillion will be offered to 25 million farmers via Kisan credit cards. Workers involved in fisheries and animal husbandry industries to be also covered under the plan.

 

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