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The FM Smt Nirmala Sithraman announced the third tranche of the Economic Package. A press conference was done today that is on the 14th of May 2020. In her press conference on the 13th of May, the FM made some various changes in the Direct Tax and announced various relief measures for the MSMEs as well. In the second tranche, the FM announced measures for marginal farmers, Shishu Loans, small farmers, tribal employment, and measures related to housing. The third tranche was focused on agriculture and allied activities.  Here are the highlights of the announcement made by the FM in her press conference today:

  1. A new scheme has been launched for interest subvention @2% per annum to dairy cooperatives for 2020-21 aimed at unlocking Rs 5000 crores additional liquidity. This will be benefitting 2 crore farmers.
  2. To help the Fisheries sector, operations of Marine Capture Fisheries and Aquaculture have been relaxed to cover Inland Fisheries.
  3. In a move to strengthen infrastructure in agriculture, financing facility of Rs. 1 lakh crore will be provided for funding Agriculture Infrastructure Projects at farm-gate & aggregation points
  4. Aiming to implement PM's vision of ‘Vocal for Local with Global outreach’, a scheme will be launched to help 2 lakh Micro Food Enterprises; Improved health and safety standards, integration with retail markets and improved incomes to be key focus areas.
  5. Government to launch Pradhan Mantri Matsya Sampada Yojana for integrated, sustainable, inclusive development of marine and inland fisheries to plug critical gaps in fisheries value chain; move will provide employment to over 55 lakh persons & double exports to Rs 1 lakh crore
  6. National Animal Disease Control Programme has been launched with total outlay of Rs. 13,343 crores for 100% vaccination of cattle, buffalo, sheep, goat and pig population in India
  7. The government announced an Animal Husbandry Infrastructure Development Fund worth Rs. 15,000 crore to support private investment in Dairy Processing, value addition and cattle feed infrastructure
  8. Government to implement a scheme for infrastructure development related to Beekeeping; aims to increase income for 2 lakh beekeepers with special thrust on capacity building of women
  9. Government to implement a scheme for infrastructure development related to Beekeeping; aims to increase income for 2 lakh beekeepers with special thrust on capacity building of women
  10. Government will amend Essential Commodities Act to enable better price realisation for farmers; Agriculture food stuffs including cereals, edible oils, oilseeds, pulses, onions and potato will be deregulated.
  11. Government to bring in law to implement agriculture marketing reforms to provide marketing choices to farmers; law will provide adequate choices to farmer to sell produce at attractive price.
  12. Government to bring in law to implement agriculture marketing reforms to provide marketing choices to farmers; law will provide adequate choices to farmer to sell produce at attractive price.

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