FM Sitharaman LIVE: Hope states fall in line with new reforms, says CII

A labourer piles up wheat grain at the New Grain Market as its procurement is picking up, amid ongoing Covid-19 lockdown. Photo: PTI
Finance Minister Nirmala Sitharaman on Friday unveiled the third set of stimulus focussing on agriculture and allied activities — dairy, fisheries, food processing, animal husbandry. The announcements is part of Rs 20 trillion fiscal and monetary package announced by Prime Minister Narendra Modi to support the economy battered by the coronavirus pandemic.

The Finance Minister had on Thursday announced Rs 3.16 trillion support for vulnerable sections, including migrant workers, farmers, tribals, street vendors, and the middle class — all hit hard by the lockdown. Three of the nine measures announced on Thursday were targeted at migrant labourers, who have been bearing the brunt of the lockdown. To enable migrants to get concessional food items through ration shops, the finance minister announced a one-nation-one-ration card scheme that would cover 83 per cent of workers who have ration cards or 670 million beneficiaries by August this year.

Sitharaman had on Wednesday announced measures of nearly Rs 5.94 trillion to provide relief to small businesses, taxpayers, shadow banks, power distribution companies, real estate, organised sector employees, and contractors working with the government. The announcements were aimed at micro, small, and medium enterprises (MSME).


8:18 PM IST BJP President JP Nadda said that today's announcements will hugely benefit farmers and enhance their incomes. Rs 1 trillion fund for farmgate infra,scheme for global marketing of local agri-produce, new schemes to benefit herbal cultivators, fruits and vegetable growers, beekeepers, fisheries, dairying etc. He further welcomed far-reaching agricultural reforms announced by FM today. He qlso praised rroposed amendments to Essential Commodities Act, 1955; APMC Act & legal framework for advance sale agreements to ensure better returns to farmers. He also extended his thank to PM Modi for these very effective decisions

6:55 PM IST During the Corona epidemic, farmers and labourers are facing the most difficulty. Instead of giving them relief the Modi govt. is hurting the farmers and labourers and instead of providing help, it is pushing the farmer in the debt trap. One thing is clear that the Modi Govt. neither understands the pain of the farmer nor the problem of farming. Therefore, the farmers have not been extended any help, even worth a single penny: Surjewala

6:50 PM IST Estimated production of wheat for Rabi season 2020-21 is 100 million tonnes. MSP of ₹1925 per quintal will cost ₹1,92,500 crore. Modi government is procuring only 35% wheat on MSP, i.e. 350 lakh tons. In Uttar Pradesh, Madhya Pradesh and other states, wheat is being sold for ₹1400 to ₹1600 per quintal, ₹325 per quintal less than the MSP. By this alone, farmers will face a loss of ₹21,000 crore

6:46 PM IST There are 14.64 crore farmers in India as per 2016 data. Of these, the government has only identified 8.22 crore farmers so far for the Kisan Samman Nidhi. Which means 6.42 crore farmers have not been identified: Surjewala

6:45 PM IST In May 2014, price of DAP fertiliser was ₹1125 per bag (50 kg), today it has increased to ₹1400 per bag. For the first time, GST was imposed on agriculture. ₹15000 per hectare was taken from farmers and only ₹6000 per year was given to half of the farmers. Central Government has increased the cost price of farming by about ₹15,000 per hectare in the last 5 years. Modi government increased excise duty on diesel from ₹3.56 to ₹31.83. per litre

6:43 PM IST LIVE: Special Congress Party Briefing by Shri @rssurjewala and Shri Abhay Dubey via video conferencing https://t.co/oJeCtGpbqu — Congress (@INCIndia) May 15, 2020

6:36 PM IST Modi Govt believes that India's welfare lies in the welfare of farmers.The unprecedented assistance given to farmers today shows Modi ji's foresight to make the country self-sufficient by empowering farmers.I congratulate PM Modi&FM Nirmala Sitharaman for this: Home Min Amit Shah मुझे पूर्ण विश्वास है की आज प्रधानमंत्री श्री @narendramodi जी के नेतृत्व में केंद्र सरकार द्वारा कृषि क्षेत्र के बुनियादी ढांचे के लिए ₹1 लाख करोड़ का ‘कृषि इन्फ्रास्ट्रक्चर फंड’ का निर्णय भारत के कृषि क्षेत्र और किसानों के कल्याण को एक नई दिशा देगा।#AatmaNirbharDesh — Amit Shah (@AmitShah) May 15, 2020

6:23 PM IST पिछले 3 दिन से निर्मला जी और अनुराग जी का धारावाहिक चल रहा है, रोज़ एक-एक वर्ग के बारे में हिन्दी और अंग्रेजी में दोनों समझा रहे हैं परन्तु पल्ले किसी के नहीं पड़ रहा है, जब ये धारावाहिक पूरा समाप्त हो जाएगा तभी कोई प्रतिक्रिया देना ठीक होगा :20 लाख करोड़ के पैकेज पर छत्तीसगढ़ CM pic.twitter.com/Z6TeKbZgTS — ANI_HindiNews (@AHindinews) May 15, 2020

6:10 PM IST In 3rd tranche of the package announced by FM today, focus was rightly laid on agricultural sector. A combination of big-ticket reforms with allocation of money for agricultural infrastructure and logistics is a welcome move. The amendment of the Essential Commodities Act and the agricultural marketing reforms proposed by the Finance Minister are indeed heartening. We hope that the states fall in line with these changes: Chandrajit Banerjee, Director General, CII

5:59 PM IST Our aim behind 'Namami Gange' has been to encourage activities that boost economy along with faith. And today, Central Government has announced a package for herbal cultivation along the banks of river Ganga: Chief Minister Yogi Adityanath While the Ghats are lit up and clean, the Ganga is still far from nirmal & aviral (Namami Gange scheme slogan)

5:43 PM IST The geniuses at Niti Aayog have done it again.  I’d like to remind you of their graph predicting the Govt's national lockdown strategy would ensure no fresh Covid cases from tomorrow, May the 16th: Rahul Gandhi The geniuses at Niti Aayog have done it again. I’d like to remind you of their graph predicting the Govt's national lockdown strategy would ensure no fresh Covid cases from tomorrow, May the 16th. pic.twitter.com/zFDJtI9IXP — Rahul Gandhi (@RahulGandhi) May 15, 2020

5:33 PM IST 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: Finance Minister Nirmala Sitharaman

LIVE UPDATES

BJP President welcomes farmer-oriented schemes announced by FM today

BJP President JP Nadda said that today's announcements will hugely benefit farmers and enhance their incomes. Rs 1 trillion fund for farmgate infra,scheme for global marketing of local agri-produce, new schemes to benefit herbal cultivators, fruits and vegetable growers, beekeepers, fisheries, dairying etc. He further welcomed far-reaching agricultural reforms announced by FM today. He qlso praised rroposed amendments to Essential Commodities Act, 1955; APMC Act & legal framework for advance sale agreements to ensure better returns to farmers. He also extended his thank to PM Modi for these very effective decisions

Modi govt neither understands the pain of the farmer nor the problem of farming: Cong

During the Corona epidemic, farmers and labourers are facing the most difficulty. Instead of giving them relief the Modi govt. is hurting the farmers and labourers and instead of providing help, it is pushing the farmer in the debt trap. One thing is clear that the Modi Govt. neither understands the pain of the farmer nor the problem of farming. Therefore, the farmers have not been extended any help, even worth a single penny: Surjewala

Farmers will face a loss of ₹21,000 crore: Congress

Estimated production of wheat for Rabi season 2020-21 is 100 million tonnes. MSP of ₹1925 per quintal will cost ₹1,92,500 crore. Modi government is procuring only 35% wheat on MSP, i.e. 350 lakh tons. In Uttar Pradesh, Madhya Pradesh and other states, wheat is being sold for ₹1400 to ₹1600 per quintal, ₹325 per quintal less than the MSP. By this alone, farmers will face a loss of ₹21,000 crore

Government has only identified 8.22 crore farmers so far: Surjewala

There are 14.64 crore farmers in India as per 2016 data. Of these, the government has only identified 8.22 crore farmers so far for the Kisan Samman Nidhi. Which means 6.42 crore farmers have not been identified: Surjewala

Central Govt has increased the cost price of farming by about ₹15,000 per hectare

In May 2014, price of DAP fertiliser was ₹1125 per bag (50 kg), today it has increased to ₹1400 per bag. For the first time, GST was imposed on agriculture. ₹15000 per hectare was taken from farmers and only ₹6000 per year was given to half of the farmers. Central Government has increased the cost price of farming by about ₹15,000 per hectare in the last 5 years. Modi government increased excise duty on diesel from ₹3.56 to ₹31.83. per litre

Watch | Congress reacts on announcements by Sitharaman

Modi Govt believes that India's welfare lies in the welfare of farmers: Amit Shah

Modi Govt believes that India's welfare lies in the welfare of farmers.The unprecedented assistance given to farmers today shows Modi ji's foresight to make the country self-sufficient by empowering farmers.I congratulate PM Modi&FM Nirmala Sitharaman for this: Home Min Amit Shah

Will react once the soap opera by Sitharaman ends: Chhattisgarh CM

We hope that the states fall in line with these changes: Director General, CII

In 3rd tranche of the package announced by FM today, focus was rightly laid on agricultural sector. A combination of big-ticket reforms with allocation of money for agricultural infrastructure and logistics is a welcome move. The amendment of the Essential Commodities Act and the agricultural marketing reforms proposed by the Finance Minister are indeed heartening. We hope that the states fall in line with these changes: Chandrajit Banerjee, Director General, CII

Aim behind 'Namami Gange' has been to encourage activities that boost economy: UP CM

Our aim behind 'Namami Gange' has been to encourage activities that boost economy along with faith. And today, Central Government has announced a package for herbal cultivation along the banks of river Ganga: Chief Minister Yogi Adityanath
While the Ghats are lit up and clean, the Ganga is still far from nirmal & aviral (Namami Gange scheme slogan)

The geniuses at Niti Aayog have done it again: Rahul Gandhi

The geniuses at Niti Aayog have done it again.  I’d like to remind you of their graph predicting the Govt's national lockdown strategy would ensure no fresh Covid cases from tomorrow, May the 16th: Rahul Gandhi

A challenge can be treated as an opportunity to improve the system: Sitharaman

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: Finance Minister Nirmala Sitharaman

FM Sitharaman concludes presser

Finance Minister Nirmala Sitharaman in her third booster for the economy announced 11 new measures to benefit farmers and agriculural sectors. While 8 measures focussed on financial support, three measures aimed tat bringing reforms in the law. 

Essential Commoditiy Act to be amended


FM proposes legal framework agriculture produce price and quality assurance

* Farmers lack enforceable standard mechanism for predictable prices of crops at the time of sowing
* Private Sector investment in provision of inputs and knowhow in agriculture sector hindered
* Facilitative legal framework will be created to enable farmers for engaging with processors, aggregators, large retailers, exporters
* Risk mitigation for farmers, assured returns and quality standardisation shall form integral part of framework

Agriculture marketing reform proposed to provide marketing choices to farmers

* A central law to be formulated to provide adequate choice to farmers to sell produce at an attractive price
* Have no barriers for inter-state trade
* Framework for e-trading of agriculture produce
* At the moment, farmers are bound to seel agriculture produce only to licensees in APMCs
* Such restriction is not there for industrial produce
 

FM proposes amendments to Essential Commodities Act to enable better price realisation

* EC Act, 1955 was enacted in days of scarcity
* Government will amend Essential Commodities Act
* Agriculture food stuff including cereals, edible oils, oilseeds, pulses, onions and potatos to be deregulated
* Stock limit to be imposed under exception circumstances
* No stock limit to apply to processors or value chain participants

Operation Green gets additional Rs 500 crore

* Supply chains have been disrupted and farmers are unable to sell produce
* Operation Green will be extended for Tomatoes, Onions, and Potatoes (TOP) to all fruits and vegetables (TOTAL)
* 50% subsidy on transportation from surplus to deficient markets
* 50% subsidy on storage
* Pilot for 6 months and will be extneded 
* Will lead to better price realisation to farmers, reduce wastage

FM announces beekeeping initiative worth Rs 500 crore

* Increase yield and quality of crops through pollination
* Provide honey and other products like wax
* Infra development related to Integrated Beekeeping Development Centre, collection, marketing and storage centres to be developed
* Capacity building with thrust on women
* Will lead to increase in income for 2 lakh beekeepers

Rs 4000 crore alolocated for promotion of herbal cultivation

* National Medicinal Plant Board has supported 2.25 lakh hectare area under cultivation of medicinal plants
* 10,000 hectare will be covered under herbal cultivation in next 2 years with outlay opf Rs 4000 crore
* Will lead to Rs 5000 crore income generation for farmers 
* NMPB will bring 800 hectare area by developing a corridor of medicinalplant along banks of ganga river

Animal Husbandry Development Fund worth Rs 15,000 cr to be set up

* Aim to support private investment in dairy processing, value addition and cattle feed infrastructure
* Animal Husbandry Development Fund worth Rs 15000 crore to be established
* Incentives to be gioven for establishing plants for export of niche products

National Animal Disease Control Programme to be implemented

* National Animal Disease Control Programme for foot and mouth disease and Brucellosis launched with total outlay of Rs 13,343 crore
* To ensure 100% vaccination of cattle, buffalor, sheep, goat and pig population (total 53 crore)
* Till date 1.5 crore cows and buffalos tagged and vaccinated to establish tracibility

Rs 20,000 Cr for Fisherman through PMMSY announced

* Critical gaps in fisheries value chain to be filled
* Govt will launch Pradhan Mantri Matsya Sampada Yojana for integrated, sustainable, inclusive development of marine fisheries
* Rs 11,000 cr for activities in marine, inland fisheries and Aquaculture
* Rs 9,000 cr for infrastructure development
* 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 Island, Himalayan states, North-east and aspirational districts

Rs 10,000 cr scheme for formalisation of Micro Food Enterprises (MFE) announced

* Unorganised MEFs to get technical upgradation to attain FSSAI food standard
* All schemes will be launched to help 2 lakh MFEs attain their goals
* Existing MFEs, Farmer Proucer Organisation, Self Help Groups and Cooperatives to be supported
* Cluster based approach to be taken
* Expected outcome to improve health and safety standards
* Will help reach untapped export markets in view of improved health conciousness

Today's Announcements

1. Cold chain, etc
*Rs 1 trillion provided for aggregators, primary agriculture organisations, farmer producer organisations for strengthening farm-gate infrastructure
*Storage to be improved
*Farmers income to increase
*Exports to get a boost

Rs 1 trillion Agri Infrastructure Fund announced

* Focus on short term crop loan while investment in long term agcriculture infra 
* Financing facility of Rs 1,00,000 crore will be provided for funding Agri Infrastructyre projects at farm gate and aggregatipn points.
* Fund to be created immidiately 

Steps take for Fisheries during Covid19

* Validity of sanitary imports permits for import of shrimps broodstock extended by 3 months
* Registration of 242 Registered Shrimp hatcheries and Nauplii Rearing Hatcheries expiring on March 31 extended for 3 months
* Operation of Marine Capture Fisheris and Aquaculture relaxed to cover inland fisheries.

Steps taken in the past two months

  • Additional purchases worth Rs 74,300 crore at MSP during two months of Covid-19
  • PM KISAN Yojana: Rs 18,700 crore transferred directly to the accounts of farmers
  • Fasal Bima Yojana: Rs 6,400-crore claims cleared in the past two months
  • During the lockdown, 56,000,000 litres of surplus milk production was procured by cooperatives at the cost of Rs 4,100 crore
  • Additional interest subvention of 2% was provided to dairy farmers. Expected to cost Rs 5,000 cr, and benefit benefit 20 million farmer

Government took additional steps during Covid19 to benefit animal husbandry

* 560 lakh Litre per day procured by cooperative against daily sale of 36 LLPD
* 111 crore Litre extra procured ensuring payment of Rs 4100 crore
* New scheme to provide interest subvention at 2% PA to dairy cooperative
* The scheme will unlock Rs 5000 cr additional liquidity benefitting 2 crore farmers

Centre to announce 11 measures today, eight relate to strengthening capacities

Centre to announce 11 measures today, eight relate to strengthening capacities, strengthening infrastructure, logistics, undertaking activities, ramping up storage. Remaining three will pertain to governance and administrative reforms, Says Sitharaman. 

Third set of measures focuses on agriculture, allied sectors: Sitharaman

Third set of measures focuses on agriculture, allied sectors, fisheris, says Finance Minister Nirmala Sitharaman/

World Bank approves $1 bn to support India's fight against coronavirus

The World Bank on Friday approved $1 billion 'Accelerating India's Covid-19 Social Protection Response Program' to support the country's efforts for providing social assistance to the poor and vulnerable households, severely impacted by the pandemic. This takes the total commitment from the World Bank towards emergency Covid-19 response in India to $2 billion. A $1 billion support was announced last month to support India's health sector. The response to the Covid-19 pandemic around the world has required governments around the world to introduce social distancing and lockdowns in unprecedented ways, said Junaid Ahmad, World Bank Country Director in India in a webinar interaction with the media. Read More

With Rs 20-trn package, fiscal deficit to balloon to 7.9% in FY21: Report

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'Very limited' fiscal space may leave govt with Rs 20,000 cr for stimulus

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Anand Sharma on govt's announcements to boost economy

We have to make distinction between fiscal stimulus,economic package and easing of liquidity. 95% of what we're seeing is easing of liquidity. It would be economic package if there was cash/income support for those who lost wages/livelihood. It has not come from Govt: Anand Sharma, Congress
 

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