In the year 2020, Union Finance Minister Nirmala Sitharaman made a significant announcement concerning the Aatmnirbhar Bharat Economic Package’s details with respect to farmers. She announced a Rs. 30,000 crore additional emergency working capital funding for farmers via NABARD.
Amid the Coronavirus crisis, farmers went through bad times and thus, Indian government came up with a robust economic package to support farmers and other small businesses to make them stand on their feet and revive their agricultural work and small businesses respectively.
Recently, Finance Minister Nirmala Sitharaman analyzed the progress status of three Aatmnirbhar Bharat Packages to uplift the economy hit severely by the COVID-19 pandemic.
The key highlights of the economic package announcement for farmers concerning additional emergency working capital funding for farmers are mentioned below-
After concluding proper in-depth review of Aatmnirbhar Bharat Packages, Union FM Nirmala Sitharaman along with the secretaries of several departments/ministries came up with several points.
The significant components of the progress made till now in the implementation parts of the schemes are mentioned below-
Hon’ble PM has announced for laying the foundation of Rs. 15000 crore Animal Husbandry Infrastructure Development Fund (AHIDF in short) under the provisions and framework of Aatmnirbhar Bharat Abhiyan stimulus package. The AHIDF has been approved for boosting investments by individual entrepreneurs, MSME, private firms and corporations, Farmers Producers Organizations (FPOs) as well as Section 8 companies to establish-
With a mission to drive employment creation in the COVID-19 pandemic-hit economy, Indian FM Nirmala Sitharaman on November 12, 2020, introduced the Aatmnirbhar Bharat Rozgar Yojana. The scheme encompasses subsidies to employers for hiring and bringing new employees on board. Most importantly, it endeavours to help those who lost jobs amid COVID-19 crisis.
The Cabinet lent the much-needed approval to the proposal on December 9, 2020. Guidelines that will be helpful in the implementation of the scheme are being composed.
The farming industry is considered as an unpredictable one. Farmers have to keep themselves prepared for the uncertainties of the future. Changes in weather would bring disheartening results for the farmers and the entire farming industry. Farmers also face economic hurdles. We can say that stability factor is not present in the lives of farmers. Farms can’t proceed ahead for reinvesting in their crops without working capital funding for farmers. Thus, farmers would fail to leap ahead for making the payment to their employees. Even making investment in brand-new equipment won’t be a possibility for them.
The survival and recovery of a farm in the hours of darkness are possible due to the working capital loan facility. Most of the farm business struggle to keep up with this buffer despite having ample working capital funding for farmers. A working capital loan can be essential in accelerating the farming industry.
In order to enhance the lives of farmers who undergone pain, Union Finance Minister Nirmala Sitharaman announced the Aatmnirbhar Bharat Economic Package last year. She affirmed a Rs. 30,000 crore additional emergency working capital funding for farmers via NABARD. In addition to this, she adopted a comprehensive review method to analyze the implementation part of Aatmnirbhar Bharat Package with Secretaries of different concerned departments. Our Organization Aatmnirbhar Sena is working in line with all the initiatives and schemes by the government and is proactively fulfilling its responsibilities.