On Tuesday Prime Minister Narendra Modi declared a cumulative package of 20 lakh crore INR relief fund to various segments of the economy (closely 10 per cent of GDP).
Based on the same, Finance Minister Nirmala Sitharaman unveiled the first tranche on Wednesday a RS 5.94 lakh core plan that compromise off-budget items such as Rs 3 lakh crore of credit line to small businesses support shadow banks and electricity merchants. Off budget items do not result in any outgo from the government exchequer but the support will ease liquidity constrains for business post lockdown.
On the second tranche, FM declared 2 per cent interest premium on the lowest category of loans under the MUDRA scheme. About 1500 crore interest grant would be paid for MUDRA Shishu loans of RS 50,00.
About 8 crore migrant workers who do not own central or state PDS card will receive 5 kilograms of grains per individual. Adding to this she said about 67 crore beneficiaries would be benefited in 23 states by August.