Highlights of the Finance Minister’s second set of “Atma Nirbhar Bharat” announcements (amounting to Rs 3500 crores for nearly 8 crore migrant workers):

1. Initiatives – as part of second tranche of measures under the Atma Nirbhar Bharat package – focus on migrant workers, street vendors, small traders, self-employed individuals, small farmers.
2. Interest subvention scheme – which is normally given for prompt repayment – on farmer loans, which was already extended till March, now extended till May 21.
3. 25 lakh new Kisan credit cards given, worth of Rs 25,000 crore of total loan limit.
4. Liquidity support for farmers and rural economy has been happening for past two months.
5. Activities through banks – 63 lakh agricultural loans worth Rs 86,600 crore approved between March 1 and April 30.
6. Rs 6,700 crore working capital assistance provided to state agencies to procure agriculture produce.
   1. FOR URBAN POOR: States permitted to utiise SDRF (State Disaster Response Fund) for setting up shelters for migrants and providing them food.
   2. Government transferred Rs 11,000 crore via SDRF to states.
   3. Central government will sponsor three meals every day to people living in Shelters for Urban Homeless (SUH) from March 28.
   4. LABOUR REFORMS IN PIPELINE: Currently, minimum wages cover 30% of workers; government working towards extending this to all workers; government working towards removal of regional disparity in wages.
   5. Working with states on establishing a national floor wage.
   6. Government working to extend benefit of Employees’ State Insurance Corporation (ESIC) coverage:
   7. National Portability Card Scheme “one nation one ration”, 67 crore people in 23 states to benefit; migrant families will be able to access food in other states through this programme. 100% national portability of to be achieved by March 2021
   8. Government to launch affordable rental housing scheme for urban poor; currently migrant workers face difficulty in getting accommodation at affordable rent
   9. FOR STREET VENDORS: Government to launch special credit facility worth Rs 5,000 crore in a month, to provide easy credit access to street vendors

Third Set Of Measures Agricultural Reforms – Setting up a Farm Infra Fund of Rs One Lakh-Crore

The Government announced a Rs 1 lakh-crore agriculture infrastructure fund as part of the government’s measures to battle the economic fallout from the coronavirus (COVID-19) pandemic and the weeks-long lockdown. The agricultural reforms revolve around the following framework:

1. Amendment of the Essential Commodities Act, 1955 to ease restrictions on the of farm products.
2. To provide farm loans worth Rs 30,000 crore as additional emergency working capital to the farmers through farm sector lender NABARD.
3. To give boost allied activities like fisheries, dairy, animal husbandry etc.) and food processing.
4. To provide for Rs 5,000-crore additional liquidity to 2 crore farmers.
5. Create a Rs 1 lakh crore fund for strengthening farm gate infrastructure (for aggregators, farmer producer organisations, primary agriculture cooperative societies etc.) fund includes cold storage, post- harvest management infrastructure, storage centres.
6. National Animal Disease Control Programme launched with outlay of Rs 13,343 crore, to ensure 100% vaccination of cattle.
7. Rs 15,000-crore Animal Husbandry Infrastructure Development Fund to be set up, to support dairy infrastructure.
8. Rs 4,000 crore towards promotion of herbal cultivation and bee-keeping.
9. Law to be formulated to provide adequate choices to farmer to sell produce at attractive price, to ensure barrier-free interstate trade

Fourth Set Of Reforms for “Atma Nirbhar Bharat”

1. Coal: Commercial mining of coal will be permitted, to remove governmental monopoly in the sector, and also announced a Rs 50,000-crore support towards the development of related infrastructure.
2. Mineral Mining: The government will auction 500 blocks of minerals through a seamless composite exploration-cum-production regime. It will also do away with the distinction between captive and non-captive mines.
3. Defence: The government eased FDI or foreign direct investment restrictions on defence manufacturing. Defence sector ventures will be allowed to sell up to 74 per cent stake to foreign investors through the automatic route, as against the existing 49 per cent.
4. Civil Aviation: Some restrictions on the utilisation of the country’s air space to be eased in conjunction with Ministry of Defence. The move will lead to benefit of Rs 1,000 crore every year for the civil aviation sector.
5. The Finance Minister announced an additional investment of Rs 13,000 crore by private players in 12 airports, which were auctioned in the first and second rounds. The tax regime for the maintenance, repair and overhauling (MRO) of aircraft has been rationalised.
6. Power Distribution Companies: Privatisation of electricity distribution firms in Union Territories, in a bid to improve the operational and financial efficiency that will lead to better service for the consumer.
7. Social Infrastructure: A revamped Rs 8,100-crore Viability Gap Funding scheme to boost private sector investment in social infrastructure.
8. Space: The Finance Minister said private sector participation will be permitted in the government’s space exploration and satellite launch programmes. Currently, both industries are predominantly operated by the government’s Indian Space Research Organisation (ISRO).
9. Atomic Energy: Establishment of facilities in PPP or Public-Private Partnership mode in areas such as affordable treatment for cancer and food preservation.