30,000 crores Additional Emergency Working Capital for farmers

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The Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has announced a Rs 30,000 crore Additional Emergency Working Capital for farmers in her 3rd Media Conference to announce the phase-wise Rs 20 Lakh crore Covid economic package announced by the Prime Minister Narendra Modi here today.

She said that the NABARD will extend additional re-finance support of Rs 30,000 crore over and above the Rs 90,000 already being provided by it for meeting crop loan requirement of Rural Cooperative Banks and RRBs. “This will benefit 3 crore farmers, mostly small and marginal”, she declared.

Following are the other measures announced by her:

Agriculture:

  • Rs 2 lakh crore credit boost to 2.5 crore farmers under the Kisan Credit Card Scheme

• A special drive to provide concessional credit to PM-KISAN beneficiaries through Kisan Credit Cards.

• Fisherman and Animal Husbandry Farmers will also be included in this drive.

• Will inject additional liquidity of Rs 2 lakh crore to 2.5 crore farmers

• During lockdown period Minimum Support Price (MSP) purchases of amount more than Rs 74,300 crores

• PM KISAN fund Transfer of Rs 18,700 crores

• PM Fasal Bima Yojana claim payment of Rs 6,400 crores

Animal Husbandry: Additional Steps during COVID

• During Lockdown, Demand for Milk reduced by 20-25%.

• 560 Lakh litre per day(LLPD) procured by cooperatives against the daily sale of 360 LLPD.

• Total 111 Crore Litre’s extra procured ensuring payment of Rs 4100 Cr.

• A new scheme to provide interest subvention @2% per annum to dairy cooperatives for 20-21.

• Additional 2% p.an interest subvention on prompt payment/interest servicing.

• This scheme will unlock 5000 Cr additional liquidity, benefitting 2 Cr farmers.

Fisheries: Additional Steps during COVID

• All 4 COVID related announcements for fisheries implemented

• Validity of Sanitary Import Permits (SIPs) for import of Shrimp Broodstock extended by 3 months

• Condoned delay up to 1 month in the arrival of Broodstock consignments

• Allowed rebooking of Quarantine cubicles for cancelled consignments with no additional charges

• Verification of documents and grant of NOC for Quarantine relaxed from 7 days to 3 days

• Registration of 242 Registered Shrimp hatcheries and Nauplii Rearing Hatcheries expiring on 31.03.2020 extended for 3 months

• Operations of Marine Capture Fisheries and Aquaculture relaxed to cover Inland Fisheries

Rs 20,000 crores for Fishermen through Pradhan Mantri Matsya Sampada Yojana (PMMSY)

• Critical gaps in fisheries value chain

• Government will launch the PMMSY for integrated, sustainable, inclusive development of marine and inland fisheries.

• Rs 11,000 Cr for activities in Marine, Inland fisheries and Aquaculture

• Rs. 9000 Cr for Infrastructure – Fishing Harbours, Cold chain, Markets etc.

• Cage Culture, Seaweed farming, Ornamental Fisheries as well as New Fishing Vessels, Traceability, Laboratory Network etc. will be key activities.

• Provisions of Ban Period Support to fishermen (during the period fishing is not permitted), Personal & Boat Insurance

• Will lead to Additional Fish Production of 70 lakh tonnes over 5 years.

• Employment to over 55 lakh persons; double exports to Rs 1,00,000 Cr.

• Focus on Islands, Himalayan States, North-east and Aspirational Districts

Rs 1 lakh crore Agri Infrastructure Fund for farm-gate infrastructure for farmers

Rs 10,000 crores scheme for Formalisation of Micro Food Enterprises (MFE)

Animal Husbandry Infrastructure Development Fund – Rs. 15,000 crore

Rs. 4000 crore for Promotion of Herbal Cultivation

Rs 500 crores for Beekeeping initiatives