Nirmala Sitharaman speech Highlights: FM unveils Rs 1 lakh cr Agri-Infra Fund, Rs 20,000 cr Fisheries scheme; says treat 'this challenge as opportunity'

Finance Minister Nirmala Sitharaman LIVE: Finance Minister Nirmala Sitharaman on Friday addressed her third conference. The FM started by praising the Indian farmers.

This was finance minister’s third press conference in as many days. Source - IANS.

Finance Minister Nirmala Sitharaman LIVE: Finance Minister Nirmala Sitharaman on Friday addressed her third conference. The FM started by praising the Indian farmers, who have endured all odds but propelled India on the global stage. She said that she will lay out 11 pointers in total, of which eight will be dedicated to strengthening of infrastructure and logistical needs of the sector. The last three points will be about governance reforms.

This was finance minister’s third press conference in as many days. On Thursday, she had announced a Rs 3.16 lakh crore package of free foodgrains for migrant workers, concessional credit to farmers and working capital loan for street vendors as part of the second tranche of fiscal stimulus to heal an economy hit hard by coronavirus lockdown.

The finance minister announced that about 8 crore migrant workers will get 5 kgs of grains and 1 kg of pulses free for two months, while 50 lakh street vendors rendered jobless by the lockdown would be given a working capital loan of Rs 10,000 each. As many as 2.5 crore farmers will be provided Rs 2 lakh crore of concessional credit through Kisan Credit Cards.

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Here are the top takeaways from FM's announcements:

* I will be announcing 11 measures today, of which 8 of them relate to strengthening infrastructure, capacities and building better logistics, while the rest 3 will pertain to governance and administrative reforms: Finance Minister Nirmala Sitharaman. Today's announcements will focus on agriculture and allied activities, FM added.

* During lockdown period Minimum Support Price purchases of amount more than Rs 74,300 crores; PM Kisan fund transfer of Rs 18700 cr: FM Nirmala Sitharaman on additional steps for agriculture during COVID19: FM

* During COVID lockdown period, the demand for milk reduced by 20-25%. A new scheme to provide interest subvention at 2% per annum to dairy cooperatives for 2020-21. The scheme will unlock Rs 5000 cr additional liquidity, benefit to 2 cr farmers: FM Sitharaman

* Government to immediately create a Rs 1 lakh crore Agri-Infrastructure Fund for farm gate infrastructure for farmers: FM

* Government has introduced a Rs 10,000 crores scheme for the formalisation of Micro Food Enterprises (MFE); the scheme promotes PM's vision of 'Vocal for Local with global outreach': FM Nirmala Sitharaman

* All COVID19 related deadline extensions relating to fisheries activities, many of them involving overseas contracts, have been honoured. Very many measures which will help marine and coastal farmers have been undertaken as promised: FM

* Govt to launch the Rs 20,000 crore Pradhan Mantri Matsya Sampada Yojana for development of marine and inland fisheries. 55 lakh people expected to get employment from this program: FM

* National Animal Disease Control Programme for Foot and Mouth Disease and Brucellosis launched with a total outlay of Rs 13,343 cr: FM

* Animal Husbandry Infrastructure Development Fund of Rs 15,000 crores will be set up: FM

* Rs 4000 crore allocated for promotion of herbal cultivation; 10,00,000 hectare will be covered in the next 2 years: FM

* National Medicinal Plants Board will bring 800-hectare area by developing a corridor of medicinal plants along the banks of river Ganga: FM

* Govt to implement a Rs 500 crore scheme of infrastructure development related to integrated beekeeping development centres, collection,marketing & storage centres, post-harvest and value addition facilities; this will lead to an increase in income of 2 lakh bee-keepers: FM

* Operation Greens to be extended from Tomatoes, Onions and Potatoes (TOP) to all fruits and vegetables (TOTAL): FM

* Government to amend the Essential Commodities Act to enable better price realisation for farmers; agriculture products including cereals, edible oils, oilseeds, pulses, onions, and potatoes to be de-regulated: FM

* A central law will be formulated to provide adequate choices to the farmers to sell produce at an attractive price, barrier-free interstate trade and framework for e-trading of agricultural produce: FM

* A facilitative legal framework will be created to enable farmers for engaging with processors, aggregators, large retailers,exporters in a fair and transparent manner: FM

* No stock limit to apply to processors or value chain participants following amendment to the Essential Commodities Act: FM

* Stock limits to be imposed only under very exceptional circumstances like national calamities, famine after amendment of ECA: FM

* FM says agri marketing reforms to provide marketing choice to farmers.

* In today's situation, if a challenge can be treated as an opportunity to improve the system and bring new technology for the benefit of farmers and people then why not to do it: FM

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