Union Finance Minister, Nirmala Sitharaman, announced today that 7 sectors including MGNREGA, education & health are going to be the focus of the fifth and last tranche of the 20 Lakh Crore Package to boost the economic outbreak caused by the novel coronavirus pandemic.
She said, “Today, I have seven steps to tell you.
3) Health both in rural and urban,
4) Business and Covid-19,
5) Decriminalisation of companies act,
6)State government and resources related to the state governments, and
7) Ease of doing business, public sector and enterprises”
The finance minister also said on Saturday that 8 sectors will witness structural reforms. This includes minerals, coals, defence production, airspace management & airports, power distribution companies in union companies, MRO, and space & atomic energy.
Sitharaman already had announced INR 1 Lakh Crore as Agri-Infrastructure Fund for farm gate infrastructure for farmers and INR 10 Crores scheme for formalizing MFEs (Micro Food Enterprises)
The finance minister also recommended amendments to the Essential Commodities Act to ensure better pricing strategy for farmers. She also revealed that no stock limit should apply to value chain participants or processors.
“ONORC” (One Nation One Ration Card) has already been announced by Nirmala Sitharaman. Under ONORC, free food grain supply to migrants and ensuring affordable housing complexes in urban areas for migrant workers will be taken care of. Those who are poor will also be considered for this financial reform in COVID-19 stimulus package.
After Vocal for Local announced by the prime minister, Nirmala focused especially on the MSMEs (Micro Small and Medium Enterprises) and the middle class.