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3rd tranche of economic package will focus on agri: India's finance minister

Nirmala Sitharaman will be holding press conference till Sunday

👤 Srimathi Sridharan15 May 2020 12:49 PM GMT
3rd tranche of economic package will focus on agri: Indias finance minister
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New Delhi: Union finance minister Nirmala Sitharaman on Friday announced the third trench of the economic package that will be focusing on agriculture and allied activities in order to combat the damage caused by the coronavirus pandemic in the country.

"I will announce 11 measures and eight of them relate to strengthening infrastructure, strengthening capacity, building better logistics…. The rest three of the 11 will pertain to governance and administrative reforms," she said in her third press briefing in as many days.

Sitharaman has been announcing the details of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi on Tuesday, vowing to make the country 'atmanirbhar' or self-reliant.

A total of about Rs 5.9 lakh crore was announced by Sitharaman on Wednesday for loan guarantees for small businesses, shadow banks and power companies as the first tranche.

She had also said the government will set up two debt and equity funds amounting to Rs 700 billion to support stressed businesses, and will contribute to the social security funds of workers for three months.

Further the finance minister announced the second tranche of the package on Thursday for free food for migrants, more jobs for tribal people and those in rural areas and credit to small enterprises, street vendors and small farmers.

Sitharaman will be holding press conferences till Sunday.

Image Courtesy: PIB

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