India announces measures for bottom of pyramid
In the row, FM announces the 2 big measures of Rs 4tn for the bottom of the pyramid people in the sync of Hon’ble Prime Minister announced a Special economic and comprehensive package of Rs 20 lakh Crore - equivalent to 10% of India’s GDP on 12th May 2020.
He gave a clarion call for आत्मनिर्भर भारत अभियान or Self-Reliant India Movement. He also outlined five pillars of Aatmanirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography and Demand. Announcing the 2nd Tranche of measures to ameliorate the hardships faced specifically by migrant labours, street vendors, migrant urban poor, small traders self-employed people, small farmers and housing, Union Finance & Corporate Affairs Minister Nirmala Sitharaman in her press conference detailed the short term and long-term measures for supporting the poor, including migrants, farmers, tiny businesses and street vendors.
Sitharaman stated that Hon’ble Prime Minister Shri Narendra Modi is always concerned about the difficulties faced by poor, including migrant workers and farmers. Farmers and workers are the backbone of this nation. They serve all of us with their sweat and toil.
Migrant workers need affordable and convenient rental housing in urban areas in addition to social security. There is also a need to create employment opportunities for the poor, including migrant and unorganised workers. Farmers need timely and adequate credit support.
Sitharaman said that the Government is attentive to the needs to all the segments of economy and society. She also mentioned that small business set ups, especially those run by street vendors, support dignified livelihoods through Shishu MUDRA loans. They also need our patronage by way of business as well as caring attention in the form of social security and enhanced credit.
This is the endeavour to put money at the people of the pyramid bottom of Indian economy. It is likely to understand that the initiative is to create a demand. In the meantime MoC & I had said about good crop is likely to reap at the season and overall demand would be a good! It is being learned that demand is halted not tumbled because of any recession in India during the lockdown.
