New Delhi: The union cabinet has cleared several proposals to benefit farmers, street vendors and MSME.
The cabinet, which met under the chairmanship of prime minister Narendra Modi, at PM’ s residence at 7, Lok Kalgan Marg, here on Monday, decided to increase the MSP for 14 Kharif crops by 50% to 83% of the production prices. Paddy price has been fixed at Rs1868.
The cabinet also decided that the street vendors in urban and rural areas would get Rs10,000 loan. Over 50 lakh vendors will be benefited by this decision. The scheme for the vendors has been named Prime Minister Street Vendor Atmanibhar Yajana.
The cabinet further widened the definition of MSME. Now units having up to Rs250 crore turnover will be come under the purview of MSME. When, finance minister Nirmala Sitharaman announced the stimulus package she had enhanced the turnover limit to Rs 100 crore.
Union minister for I & B Prakash Javadekar, agriculture minister Narendra Singh Tomar and MSME minister Nitin Gadkari briefed about the cabinet decisions.