New Delhi: Part of the Centre’s economic stimulus, Union Finance Minister Nirmala Sitharaman on Thursday announced an additional outlay of Rs 10,000 crore for PM Garib Kalyan Rozgar Yojana in the current financial year. The announcement has been made to boost rural employment. This, she said, will accelerate growth of the rural economy. Also Read - Economic Reforms Will Continue, More Ahead, Says Sitharaman
“An additional outlay of Rs 10,000 crores will be provided for PM Garib Kalyan Rozgar Yojana in the current financial year to boost rural employment,” FM Sitharaman said during the press conference. Also Read - Finance Ministry Seeks Proposals for Annual Budget 2021-22 Via E-mail
Launched in June this year by Prime Minister Narendra Modi, the PM Garib Kalyan Rozgar Yojana was created with the objective to empower and provide livelihood opportunities in villages witnessing large number of returnee migrant workers affected by the COVID-19.
Apart from this, Sitharaman also announced a Rs 65,000-crore fertilizer subsidy for farmers as part of her stimulus package to boost the economy.
She said Rs 65,000 crore is being provided to ensure adequate availability of fertilisers to farmers and to enable timely accessibility of fertilisers in the upcoming crop season.
Sitharaman further said, Rs 3,000 crore will be released to EXIM Bank for promotion of ‘Project Exports’ through lines of credits.
EXIM Bank extends lines of credits (LOC) on behalf of the government of India as assistance to developing countries under Indian Development and Economic Assistance Scheme (IDEAS) Scheme.