Third tranche of the economic stimulus package

The Union Finance Minister has recently announced the third economic package under Atma Nirbhar Bharat to strengthen Infrastructure Logistics, Capacity Building, Reforms for Agriculture, Fisheries and Food Processing Sectors.

Highlights of the third economic package

1.Micro Food Enterprises

• The Scheme promoting the government’s vision: ‘Vocal for Local with Global outreach will be launched to help 2 lakh MFEs who need technical upgradation to attain FSSAI food standards, build brands and marketing.Operation Greens
• It is run by the Ministry of Food Processing Industries (MOFPI) which was earlier only for the tomatoes, onion and potatoes now will be extended to all fruits and vegetables.

2. Animal Husbandry Infrastructure Development Fund

• This fund will be set up with an outlay of Rs.15, 000 crores to support private investment in Dairy Processing, value addition and cattle feed infrastructure.

3. Beekeeping initiatives

• The government will implement a scheme for Infrastructure development related to Integrated Beekeeping Development Centres, Collection, Marketing and Storage Centres, Post-Harvest & value Addition facilities, among others.

4. Essential Commodities Act

• The government will amend the Essential Commodities Act to deregulate cereals, pulses, onions and potatoes.
• Stock limits will be imposed under very exceptional circumstances like national calamities, famine with a surge in prices.

5. Contract Farming

• The government will consider introducing a law on contract farming under the Contract Act of 1872 to enable farmers to directly engage with processors, aggregators, large retailers and exporters fairly and transparently.

UPSC