Explanation:

• Government of India will provide Interest subvention of 2% for prompt payees for a period of 12 months to MUDRA Shishu loanees, who have loans below Rs 50,000.The current portfolio of MUDRA Shishu loans is around Rs 1.62 Lakh crore. This will provide relief of about Rs 1,500 crore to Shishu MUDRA loanee.
• In continuation to PM Modi’s announcement of Rs 20 lakh crore boost to the economy, and the announcement made by her on May 13, 2020  the Finance Minister of India, Smt. Nirmala Sitharaman has made the announcement of the second tranche of economic support the Indian Economy’s fight against COVID-19.