PM Modi
PM Modi
(PTI Photo)

On Wednesday, Prime Minister Narendra Modi met with his Cabinet ministers and took decisons with respect to the migrants, poor, senior citizens, fisheries sector and others amid Lockdown 4.0 enforced due to the novel coronavirus pandemic.

Taking to Twitter, PM Modi wrote, "During today’s Cabinet meeting, important decisions were taken which are focused on welfare of migrants, poor, senior citizens, easier availability of credit, harnessing opportunities in the fisheries sector. They will benefit several citizens."

Among the many decisons, the Cabinet gave its approval to a new Centrally Sponsored Scheme named Scheme for Formalization of Micro Food Processing Enterprises for the Unorganized Sector on all India basis with an outlay of Rs. 10 thousand crore. The expenditure will be shared by Centre and the States in ratio of 60:40.

"Important decision of the Cabinet that will contribute to a vibrant food processing sector. It will also strengthen the efforts towards Atmanirbhar Bharat," said PM Modi.

The Cabinet approved Pradhan Mantri Matsya Sampada Yojana (PMMSY) – a scheme to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India. The scheme, with an estimated investment of Rs 20,050 crore, will be implemented during five years from 2020-21 to 2024-25. The Central share is Rs 9,407 crore, state share Rs 4,880 crore and beneficiaries' share Rs 5,763 crore.

PM Modi said, "Pradhan Mantri Matsya Sampada Yojana will revolutionise the fisheries sector. It will invigorate it with latest technology, infrastructure and ensure financial assistance. Our hardworking fishermen will gain immensely."

The Union Cabinet also extended the Pradhan Mantri Vaya Vandana Yojana (PMVVY), a social security scheme for senior citizens, for three years till March, 2023. "PM @narendramodi’s cabinet has approved ‘Pradhan Mantri Vaya Vandana Yojana’ (PMVVY), a social security scheme for senior citizens, which will ensure them income security by providing an assured minimum pension to our old age people," said Home Minister Amit Shah.

Shah said that Cabinet has approved allocation of food grains from central pool to approximately 8 crore stranded migrants at Rs 5 per kg, per person, per month, free of cost for two months.

"To support and revive our MSMEs, Modi cabinet today has also approved additional funding of ₹3 lakh crores through introduction of Emergency Credit Line Guarantee Scheme (ECLGS). This will boost our economy by helping the MSMEs to face challenges posed by COVID-19," Shah added.

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Free Press Journal