FM Nirmala Sitharaman Announces Second Tranche Of Rs 20 Lakh Crore Fiscal Stimulus

Nirmala Sitharaman's second tranche of announcement focuses on migrant workers, street vendors, small traders, farmers and self-employed people.

Indian FM Nirmala Sitharaman

On May 14, 2020, the Minister of Finance and Corporate Affairs of India, Nirmala Sitharaman went live with the second tranche announcements of the Economic Relief Package/ Economic Revival Plan of Rs 20 lakh crore by Prime Minister Narendra Modi towards building an ‘Atmanirbhar Bharat.’ In the press conference, Sitharaman said the second tranche announcement focuses on migrant workers, street vendors, small traders, self-employed people and small farmers (elaborated category).

In all, there were nine steps that she declared, which included three for the migrant workers and one related to the ‘Shishu Loan Scheme under MUDRA.’ One of them catered to the housing facilities while the other was for employment generation, largely for tribals in the remote pockets of the country. Two of the steps especially reached out to farmers (particularly small). She added that many of these steps will overlap with the next package that will be announced shortly.

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