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Home » Economy » FM Nirmala Sitharaman press conference: Essential Commodities Act amendments to give better price realisation for farmers, says FM

FM Nirmala Sitharaman press conference: Essential Commodities Act amendments to give better price realisation for farmers, says FM

FM Nirmala Sitharaman LIVE: After announcing relief for some of the India's poorer section of the society including migrant workers, street vendors and small farmers, Nirmala Sitharaman will announce some more measures.

By Newsd
Updated on :
Key highlights of Finance minister Nirmala Sitharaman's press conference: Everything you need to know

Finance Minister Nirmala Sitharaman will address a press conference at 4 pm on May 15 to provide the third set of details on the COVID-19 relief package under the Atmanirbhar Bharat Abhiyan.

This will be the Finance Minister’s third press conference about the Rs 20 lakh crore economic package, which was announced by Prime Minister Narendra Modi on May 12.

The first set of measures were announced on May 13, which focused on benefits for micro, small and medium enterprises (MSMEs) and non-banking finance companies (NBFCs).  Three tax measures and support for the Employee’s Provident Fund (EPF) scheme were also a part of the first set of measures.

On May 14, the new schemes focused on migrant workers, street vendors, and small traders.

Besides food, the central government in an attempt to provide shelter to the migrant workers, who work in various parts of the country, will launch a scheme under Pradhan Mantri Awas Yojana (PMAY).

Under the scheme, the government will convert government-funded housing in the cities into rental housing complexes under PPP mode to provide shelters to the migrant workers.

Live Blog

5:10PM 15 May, 20
Stock limits to be imposed only under very exceptional circumstances like national calamities, famine after amendment of ECA

Stock limits to be imposed only under very exceptional circumstances like national calamities, famine after amendment of ECA: FM

5:10PM 15 May, 20
No stock limit to apply to processors or value chain participants following amendment to the Essential Commodities Act

No stock limit to apply to processors or value chain participants following amendment to the Essential Commodities Act: FM

5:10PM 15 May, 20
Govt to amend Essential Commodities Act; cereals, edible oil, oilseeds, pulses, onions and potato to be deregulated:

Govt to amend Essential Commodities Act; cereals, edible oil, oilseeds, pulses, onions and potato to be deregulated: FM

5:09PM 15 May, 20
Rs 500-cr additional fund provided to extend Operation Green to all fruits, vegetables; 50% subsidy

Rs 500-cr additional fund provided to extend Operation Green to all fruits, vegetables; 50% subsidy on transportation, storage: FM

5:09PM 15 May, 20
Rs 500 cr allocated for beekeeping initiatives to benefit 2 lakh beekeepers in rural areas

Rs 500 cr allocated for beekeeping initiatives to benefit 2 lakh beekeepers in rural areas, says Sitharaman

5:09PM 15 May, 20
FM announces Rs 4,000 cr for promotion of herbal cultivation to bring 10 lakh hectares of land

FM announces Rs 4,000 cr for promotion of herbal cultivation to bring 10 lakh hectares of land under herbal growing in next 2 years

5:09PM 15 May, 20
FM announces Animal Husbandry Infrastructure Development Fund of Rs 15,000 cr to support investment

FM announces Animal Husbandry Infrastructure Development Fund of Rs 15,000 cr to support investment in dairy processing

4:40PM 15 May, 20
Rs 13,343-cr fund launched to ensure 100% vaccination of 53 cr cattles for foot-and-mouth disease

Rs 13,343-cr fund launched to ensure 100% vaccination of 53 cr cattles for foot-and-mouth disease: FM

4:40PM 15 May, 20
FM announces Rs 20,000 cr for aqua culture, infrastructure for fisheries

FM announces Rs 20,000 cr for aqua culture, infrastructure for fisheries to help raise fish production, exports

4:34PM 15 May, 20

100% vaccination of all cattle (nearly 53 crore animals) to eradicate foot and mouth disease

4:33PM 15 May, 20
Pradhan mantri Matsya Sampada Yojana to employ 55 lakh people

Pradhan mantri Matsya Sampada Yojana to employ 55 lakh people, double India's exports to Rs 1 lakh crore - FM Nirmala Sitharaman

4:30PM 15 May, 20
Under Van Sampada, states can also take benefits from clusters under Vocal for Local mission

FM Nirmala Sitharaman gives Kashmir’s kesar, Bihar’s makhana, Karnataka’s ragi, and Andhra’s chillies as examples of clusters. Under Van Sampada, states can also take benefits from clusters under Vocal for Local mission.

4:28PM 15 May, 20
Food enterprises who are micro in size, the government will provide Rs 10,000 crore

Food enterprises who are micro in size, the government will provide Rs 10,000 crore for a cluster based approach. Local value added products can reach out for global markets through this: Finance Minister Nirmala Sitharaman

4:27PM 15 May, 20
2 lakh MFEs will benefit from the Rs 10,000 crore package

2 lakh MFEs will benefit from the Rs 10,000 crore package by modernising and better branding - FM 

4:23PM 15 May, 20

Rs 1 Lakh Crore fund for Agriculture Infrastructure will be provided, at farm gate and aggregation points and the funds will be created immediately: FM Nirmala Sitharaman

4:22PM 15 May, 20
6400 cr claims being given in Fasal Bima Yojana

6400 cr claims being given in Fasal Bima Yojana - FM Sitharaman

4:17PM 15 May, 20
Help for animal husbandry during lockdown

New scheme for interest subvention of 2%/ annum for dairy cooperatives

Additional 2% interest subvention on prompt payment/ interest servicing

4:15PM 15 May, 20
Purchases of Rs 74,300 under minimum support price has been made in the last two months

Purchases of Rs 74,300 under minimum support price has been made in the last two months and Rs 18700 crore has been transferred into the accounts of farmers under PM-KISAN.

4:12PM 15 May, 20

I will be announcing 11 measures today, of which 8 of them relate to strengthening infrastructure, capacities and building better logistics, while the rest 3 will pertain to governance and administrative reforms: Finance Minister Nirmala Sitharaman

4:11PM 15 May, 20
Indian farmers have always ensured that despite their smallholding, they will give high yields

India is third largest cereal producers. Indian farmers have always ensured that despite their smallholding, they will give high yields - FM

4:07PM 15 May, 20
4:05PM 15 May, 20
The finance minister's Press Conference Begins

FM Sitharaman's press conference starts to announce the details of the third tranche of the economic package declared by Prime Minister Narendra Modi on Tuesday.

3:39PM 15 May, 20
Where's the space for fiscal stimulus?

  • The government plans to raise gross borrowings to Rs 12 lakh crore from the budgeted Rs 7.8 lakh crore
  • This is expected to be used to meet the revenue shortfall, India Ratings & Research said
  • Revenue shortfall is likely to account for 95 per cent of the increased borrowings
  • This would leave a purse of just Rs 20,000 crore for the government to provide fiscal stimulus

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