FM Nirmala Sitharaman Press Conference Live Updates: Finance Minister Nirmala Sitharaman is announcing the fifth and last tranche of the Rs 20-lakh crore Covid-19 packages as part of the “Atmanirbhar Bharat Abhiyan” (Self-reliant India campaign).
On Saturday, Sitharaman unveiled the fourth set of the economic package for eight sectors — coal, minerals, defence production, civil aviation, power distribution, social infrastructure, space and atomic energy. An easing of limits on foreign direct investment in defence manufacturing, privatisation of six more airports, opening up of more airspace and allowing private sector in commercial coal mining were among key announcements made by her.
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Prior to Saturday’s announcements, Sitharaman had announced relief measures for Micro, Small and Medium Enterprises (MSMEs), migrant labourers, farmers and street vendors, and the agriculture sector and allied activities. In a defining “1991 moment” for Indian agriculture, the Centre also decided to amend the Essential Commodities Act (ECA) to “deregulate” agricultural foodstuffs — including all cereals, pulses, oilseeds, onions and potatoes — and allow clamping of stock limits on these only under “very exceptional circumstances” like natural calamities and famines, which cause a “surge in prices”. A third reform announcement, complementary to the first two, was the creation of a “facilitative legal framework” for contract farming.
- Centre provides Rs 15,000 crore to states, PPEs for health care workers
- The government, Sitharaman said, has also taken a number of health-related steps to contain the spread of Covid-19 – Rs 15,000 crore announced for states, essential items, testing labs and kits along with rolling out of teleconsultation services, launch of Arogya Setu app and protection to health care workers with adequate PPEs.
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Provision made for live telecast of classes for students: Nirmala Sitharaman
On the steps taken for the education sector, the finance minister said, “The direct telecast mode use by schools will now get 12 more channels. This will also help in the rural areas. Provision has been made for live telecast of teachings. We have also tied up with private operators such as Tata Sky and DTH to air educational content.”
Rs 3,950 crore for 2.2 crore construction workers from states: SitharamanAround 2.2 crore building and construction workers received Rs 3,950 crore from the Building and Construction Workers Cess Welfare Fund distributed by states, the Finance Minister said.
2.2 crore building and construction workers got ₹ 3,950 crore from the Building and Construction Workers Cess Welfare Fund distributed by states, says FM @IndianExpress
— P Vaidyanathan Iyer (@iyervaidy) May 17, 2020
- The Finance Minister will make announcements for the following sectors today: MNREGA, health (rural and urban) and education, business, de-criminalisation of Companies Act, Ease of Doing Business, Public Sector Enterprises, state govts and resources to them.
Seven steps: MNREGA, health (rural and urban) and education, business, de-criminalisation of Companies Act, Ease of Doing Business, Public Sector Enterprises, State govts and resources to them, says FM @IndianExpress
— P Vaidyanathan Iyer (@iyervaidy) May 17, 2020
- Providing more details on the government’s efforts, the Finance Minister said, “At least 85% of the train travel costs were borned by the government. Food was also provided to the travellers. When it was possible to have workers to travel from camps to their hometowns, trains were allowed.”
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Several benefited through Direct Benefit Transfer: Nirmala Sitharaman
“Rs 16,394 crorehas reached 8.19 crore farmers. Twenty crore women were benefited after Rs 10,025 crore were deposited in their accounts. The building and construction workers also received their financial support due to Direct Benefit Transfer. We immediately responded to cash transfers and provided cooking gas to those in need,” Sitharaman said.
Nirmala Sitharaman begins addressing reportersQuoting Prime Minister Narendra Modi while addressing reporters today, Sitharaman said: “In order to prove the resolve of the self-reliant India, land, labour, liquidity and laws, all have been emphasised in this package.” She added, “We have announced several reforms in this regard and shall continue with the same today.”
Today marks the last of the tranches of announcements, subsequent to PM @narendramodi‘s address to the nation
– FM #NirmalaSitharaman #AatmaNirbharApnaBharat https://t.co/kvPP6XmBmy
— PIB in Maharashtra 🇮🇳 #MaskYourself 😷 (@PIBMumbai) May 17, 2020
