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Major Eco Relief for Small Farmers
by Estartup India Grow Business With UsTo fight against the deadly Coronavirus, the Indian government is trying its best to reform the whole economical system. After taking a few other crucial steps here and there, the Prime Minister has launched a special economic package too. According to him, it will be beneficial for the farmers and the other low-class workers, both generally and economically.
Nonetheless, the package has been releasing in several parts, since the Smt. Nirmala Sitharaman had first talked about it. On 12th March, she had unveiled the second section of the package. It comprised of the information on the fiscal betterment of the agriculturers as well as the small business owners.
However, before the residents of all across India could take all that it, this Friday, she has announced the third tranche of the package. Nevertheless, unlike the previous one, this part mainly talks about strengthening the capacity and infrastructure of the state government. Moreover, it also provides some crucial insights into building robust logistics and reforming the administrative capabilities of the government.
In her recent speech, the Finance Minister of India has also announced some deadline extensions. These annexes mainly involve the activities regarding fisheries and its related sections. Besides extending the durations, the package has honoured various overseas contracts as well.
More Key Announcements
Besides providing some essential insights on the new tranche of the fiscal package, Smt. Sitharaman has also made some other announcements. The following are some of them.
The Indian government has introduced a new scheme of 10,000 crore INR to formalise the Micro Food Enterprises of the country. According to the Finance Minister, it will help to be more effective with both the global and the local outreach. The system would aid the MFEs by adopting an all-new cluster-based loom. This, in turn, would be quite advantageous for the agricultural world of India. For example, the format would directly affect the cultivation of mango fruits in Uttar Pradesh. Furthermore, it will also have a positive impact on chillies in Andhra Pradesh, and the bamboo shoots in North-East India.
Moreover. Smt. Sitharaman has also announced that the government will create an agriculture-based infrastructure of 1 lakh crore INR. This, in turn, would provide one of the forms of economic reliefs to the agriculturers and make them financially efficient. Moreover, the government of India also intends to use the fund for setting up a post-harvest management infrastructure. It would help make the overall farming procedures even easier and simpler. Besides this, the fund might also help the government to create a cold chain, which can benefit the agriculture system in other ways.
The steps will be taken for FSSAI registration of Micro food entities.
Lastly, the new version of the monetary package features a new scheme as well. It will offer a 2%/annum interest subvention to dairy cooperatives for the year of 2020-21. The system would unlock around 5,000 crore INR of supplementary liquidity for the agricultural system. It, in turn, would be beneficial for around 2 crores of India-based farms as well as its workers.
Moreover, the farmers can also gain access to various export promotion schemes of the government by obtaining an Apeda registration.
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Created on May 18th 2020 07:08. Viewed 86 times.
