Many important decisions on MSME and farmers in cabinet meeting
New Delhi: Union Ministers Prakash Javadekar, Nitin Gadkari and Narendra Singh Tomar gave information about the decisions taken in the Union Cabinet meeting chaired by Prime Minister Narendra Modi on Monday. This was the first cabinet meeting after the Modi government entered the second year of its second term.
Under the Aatmnirbhar Bharat Package, it has been approved to change the definition of MSME. In the year 2006, the definition of MSME was explained by passing an act. This definition has been changed after 14 years.
MSME accounts for 29 percent of our country’s GDP. There are 6 crore MSMEs in the country and this sector has given more than 11 crore jobs.
Union Minister Nitin Gadkari said that ‘Rs 50,000 crore fund of funds has been approved for MSME. This will help small industries in crisis. I believe that the government will be able to make these 50,000 crore rupees two lakh crore rupees in a few years.
Investment in plant and machinery in MSME sector will be 50 crores and turnover has been increased to 250 crores instead of 100 crores. Export turnover will not be added to this sector.
Approval has also been given to create a Rs 4,000 crore distress asset fund.
- Provision of 20 thousand crores has been made for the crisis-hit MSMEs.
- The Ministry of Urban and Housing has made special loan arrangements for street vendors. The cabinet has approved it. Loans up to 10 thousand will be given.
- The Ministry of Urban and Housing has launched this special micro-loan scheme. This is a plan to help the street vendors. 50 lakh people will get benefit from this scheme.
Important decisions have been taken for the farmers in the decision of the Union Cabinet.
- Recommendations included in the Swaminathan Iyer report have been accepted and implemented under the leadership of PM Modi.
- The government is fulfilling its promise to increase MSP by one and a half times.
- Recommendation for 14 crops of Agricultural Costs and Prices Commission has come. The cabinet has approved them
- On 14 crops, farmers will get 50 percent to 83 percent more cost.
Till date, the purchase of paddy, wheat up to 95 lakh metric tonnes has been reached 360 million metric tons. Purchase of pulses and oilseeds is going on. - The date of payment of short-term loans of up to 3 lakhs for farming and allied work has been extended till 31 August 2020.
