Bengaluru, May 15 (IANS): Terming the stimulus package for reviving the Covid-hit Indian economy as bold and revolutionary, Karnataka Chief Minister B.S. Yediyurappa said on Thursday that the second tranche would immensely benefit the migrant workers, street vendors, small farmers and oppressed communities.

"The second tranche of the Rs 20 lakh crore package reiterates the concern of Prime Minister Narendra Modi for the poor and his aspiration for inclusive growth," Yediyurappa said in a statement here.

On Thursday, Union Finance Minister Nirmala Sitharaman announced a slew of measures beneficial to the migrant workers, street vendors and small farmers across the country under the "Atma-Nirbhar Bharat Economic revival package".

The Chief Minister also commended Modi and Sitharaman for fixing uniform minimum wages to benefit thousands of migrant workers in the state.

"Other benefits to the deserving and needy are free ration for two months and fixation of house rent, which will give the poor a secure feeling," Yediyurappa said in a statement in Kannada.

He said interest reduction for Mudra SHISHU loan and a loan facility of up to Rs 10,000 for street venders would give a new lease of life to their family members.

"Home loan subsidy for middle and lower middle class will help their dreams come true," asserted 77-year-old Yediyurappa, a farmer-turned career politician.

The additional grant of Rs 30,000 crore for the farmer fund will support the small and marginal force to carry out harvest and post-harvest works, said the Chief Minister, who also holds the finance portfolio in the state.

Small farmers, fishermen and the people involved in animal husbandry will benefit from the Rs 2 lakh crore credit facility under the Kisan credit card scheme, he said.

Meanwhile, state Industries Minister Jagadish Shettar said the ambitious package was a panacea to diverse sectors spanning agriculture, manufacturing and services, as they all were affected by the prolonged lockdown that was enforced to contain the Covid-19 pandemic.

"The special package will soon revive the industries, which are functioning at 25 per cent of their capacity due to the over 50-day lockdown. The migrants, who went to their native places within the state and other states, will return to rev up all the three key sectors of the economy," said Shettar, who was the Chief Minister in 2012-13, when the BJP was in power.