Economic Package Second Tranche: 50 lakh street vendors to get support of Rs 5000 crore Special Credit Facility
New Delhi | Jagran Business Desk: Finance Minsiter Nirmala Sitharaman on Thursday announced Rs 5,000 crore special credit facility for street vendors which will benefit around 50 lakh street vendors across the country.
She also said that the government will launch scheme within a month to facilitate easy access to credit to the street vendors. The Minister said that Rs 10,000 loan will be given to the needy vendors, but this is not a fixed amount, and will be decided after consultation with banks.
Digital payments will be incentivized through monetary rewards and enhanced working capital credit would be made available for good repayment behaviour, she said. The Minister said the scheme will support nearly 50 lakh street vendors and will provide liquidity of Rs 5,000 crore.
The announcement came two days after Prime Minister Narendra Modi announced a Rs 20 lakh-crore stimulus support to boost different sectors and help farmers and poor which have been facing a tough time during the nationwide lockdown continuing for over 40 days to contain the spread of the coronavirus pandemic.
Posted By: Talib Khan