In a short time from now, Finance Minister Nirmala Sitharaman will maintain a press convention to announce the following lot of measures beneath the Rs 20 lakh crore financial stimulus bundle. Centre has introduced a number of liquidity and financial measures to date in three such tranches since Wednesday for various sectors and segments of society have been introduced.
Within the final tranche, FM had introduced measures to assist the agricultural sector. Amongst different measures, Important Commodities Act has been amended to take away meals grains, edible oil, oil seeds, pulses, onion and potato from its purview. A Rs 1 lakh crore fund has additionally been set as much as develop agricultural infrastructure at farm-gate. Farmers may even been given the selection of promoting their produce at enticing costs in a market of their selection by the best way of a brand new regulation.
Comply with BusinessToday.In for up to date updates from FM Sitharaman’s press convention:
3.42 PM: Finance Minister Nirmala Sithraman introduced 11 key measures in Tranche III, together with a mixture of schemes and adjustments in authorized framework, to assist nation’s agricultural sector amid the coronavirus lockdown. Whereas daring, these strikes are anticipated to take time earlier than they develop into actuality.
3.36 PM: The spotlight of the third tranche of measures had been the authorized reforms meant to assist the farmers. These confer with adjustments relating to Important Commodities Act, Agriculture Produce Advertising and marketing Committee and Contract Farming, which have been hailed as daring and progressive.
3.32 PM: The three tranches of financial stimulus introduced to date closely deal with liquidity measures for road distributors, poor, migrant employees and farmers, however don’t a lot fiscal outgo. The federal government is limiting fiscal spending over issues that extra spending may set off a sovereign ranking downgrade, authorities officers advised Reuters.
3.20 PM: The final tranche of measures focussed on agriculture sector, together with Rs 1 lakh crore fund for agri infrastructure, amendments to Important Commodities Act, and a brand new regulation to permit farmers to promote their produce at enticing costs in a market of their selection.
Finance Minister @nsitharaman publicizes measures to strengthen Agriculture Infrastructure Logistics, Capability Constructing, Governance and Administrative Reforms for Agriculture, Fisheries and Meals Processing Sectors#AatmaNirbharDesh
— PIB in Chandigarh (@PIBChandigarh) Could 15, 2020
3.19 PM: The press conferenc at four PM shall be broadcasted stay on YouTube, Twitter and Fb.
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— Ministry of Finance 🇮🇳 #StayHome #StaySafe (@FinMinIndia) Could 16, 2020
3.17 PM: FM Nirmala Sitharaman will maintain a press convention at four PM to announce the fourth tranche of measures beneath the Atma Nirbhar Bharat stimulus bundle.