FM Announces Rs 1500 Cr Relief for Shisu loanees; Rs 5000 Cr Credit for Street Vendors
GUWAHATI: Union Finance Minister Nirmala Sitharaman in a press conference on 14th May informed that the Government of India will be providing interest subvention of 2% for prompt MUDRA-Shishu Loan payees for a period of 12 months. Relief of Rs 1500 crores will be given. The loan moratorium has already been granted by the RBI.
For street vendors across the country, the government will launch a special scheme within a month to facilitate easy access of credit to street vendors. Initial working capital of Rs 10,000 is to be provided and digital payments will be incentivized. This scheme will benefit nearly 50 lakh street vendors with a total of Rs 5000 crore liquidity.