Second tranche of economic stimulus will benefit migrant workers & small farmers: Nirmala Sitharaman

India's finance minister Nirmala Sitharaman unveiled the next part of the economic stimulus package after announcing it on Tuesday.

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Sitharaman said the second tranche of the economic stimulus package will benefit migrant workers, street vendors and small farmers.

Three crore marginal farmers have already availed Rs 4 lakh crore loans on concessional rates, India's finance minister said.

On employment of migrant workers, Sitharaman said that 14.62 crore man-days generated up to May 13 under MNREGA with Rs 10,000 crore has been spent.

Government backs universal right to minimum wages and regional disparity in minimum wages need to be bridged by national floor wage, the finance minister asserted.

Major announcements:

Government to spend Rs 3,500 crore on giving free food grain to 8 crore migrant workers who do not have either central or state PDS cards.

PDS ration cards to be made portable to allow migrant workers to use ration cards across states.

Rs 1,500 crore interest subvention for MUDRA-Shishu loans of up to Rs 50,000.

Government to launch affordable rental housing scheme for migrant workers.

50 lakh street vendors to be given Rs 5,000 crore.

Affordable housing scheme for middle income families with Rs 6 lakh to Rs 18 lakh annual income to be extended till March 2021.

Rs 30,000 crore additional emergency working capital fund to be provided through NABARD to small, marginal farmers.