To ensure sufficient supply during the lockdown, the government on Thursday decided to increase monthly quota of subsidised foodgrain by 2-7 kg per person through ration shops for 80 crore beneficiaries. A decision in this regard was taken by the Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi.
The CCEA also cleared a proposal that involves a total of Rs 1,340-crore capital infusion into regional rural banks (RRBs) in FY21 to bolster their ability to lend at a time when the Covid-19 pandemic has threatened to exacerbate an already-faltering credit flow. The Centre’s share in this infusion will be Rs 670 crore, while the rest will come from sponsor banks of these RRBs.
The Cabinet okayed the extension of the scheme for the Rebate of State and Central Taxes and Levies for garment and made-up exports beyond March 31 until a proposed WTO-compatible scheme — Remission of Duties and Taxes on Exported Products — is implemented next fiscal. Garment exports have witnessed a rollercoaster ride in recent years, despite the announcement of a Rs 6,000-crore package in 2016, as the labour-intensive sector was hit by note ban and GST in quick succession.