New Delhi, May 14 (IANS): Prime Minister Narendra Modi on Thursday lauded the announcements of Finance Minister Nirmala Sitharaman for the welfare of farmers and migrant workers, saying it will benefit them.

"Today's announcement by Finance Minister Nirmala Sitharaman will especially benefit our farmers and migrant workers. The announcements include a series of progressive measures and will boost food security, credit to farmers as well as street vendors," Modi tweeted.

His remarks followed Sitharaman's second tranche of economic stimulus package announced here to benefit migrant workers, street vendors and small farmers. Sitharaman tried to assuage the economic concerns of farmers, workers and street vendors on Thursday with a mega package offering everything - loans, interest subventions and cheap housing.

On the second day of detailing the mega Rs 20 lakh crore economic package (nearly 10 per cent of GDP) under the Centre's 'Self-Reliant India Movement' which was earlier announced by the Prime Minister, the Finance Minister doled out massive loan components for agriculture and the housing sector.

This included a Rs 1.7 lakh crore package comprising free foodgrains and cash to the poor for three months announced in March, and Rs 5.6 lakh crore stimulus provided through various monetary policy measures by the Reserve Bank of India (RBI).

The remainder of the Rs 20 lakh crore package is being announced in tranches -- Sitharman had in the first tranche on Wednesday unveiled a Rs 5.94 lakh crore plan that mostly comprises off-budget items such as Rs 3 lakh crore of credit line to small businesses as support to shadow banks and electricity distributors.