Quick Summary
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 w
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FAQ :
The third tranche of the economic relief package is primarily focused on agriculture and allied activities.
A new scheme offering 2% per annum interest subvention for dairy cooperatives in 2020-21 has been launched, aiming to unlock an additional Rs 5000 crores in liquidity and benefiting 2 crore farmers.
Operations for Marine Capture Fisheries and Aquaculture have been relaxed to include Inland Fisheries, and the Pradhan Mantri Matsya Sampada Yojana will be launched for integrated development, aiming to create employment and double exports.
A financing facility of Rs 1 lakh crore will be provided for funding Agriculture Infrastructure Projects at farm-gate and aggregation points.
The Essential Commodities Act will be amended to enable better price realisation for farmers, with agriculture foodstuffs including cereals, edible oils, oilseeds, pulses, onions, and potatoes being deregulated.
The Rs 15,000 crore Animal Husbandry Infrastructure Development Fund aims to support private investment in Dairy Processing, value addition, and cattle feed infrastructure.
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