FM Nirmala Sitharaman announces Rs 1.7 lakh crore relief package for poor

Economic relief package worth Rs 1.7 lakh crore.  The Finance Minister also announced a Rs 50 lakh insurance cover for healthcare workers who are at the forefront of dealing with coronavirus pandemic and free grains for the poor for the next three months. Announcing Garib Kalyan Yojana, Sitharaman said 80 crores poor or two-third of the population would get 5 kg rice or wheat-free for the next three months. This will be over and above the 5 kg, they already get. Additionally, they will also get 1 kg of a preferred pulse. To benefit the construction workers, the Centre will direct the state governments will to use the funds under Buildings and other Construction Workers Act. “It has Rs 31,000 crore in it. It has 3.5 crore registered workers. We intent to tell states to utilize this fund to provide assistance to workers,” Sitharaman said. The District Mineral Fund will also be utilized to augment medical testing, screening, and other requirements to fight coronavirus and preventing its spread. For the organized sector, the government will pay the EPFO contribution both of the employer and the employee (12 percent each) for the next three months. This is for all those establishments which have up to 100 employees and 90 percent of them draw less than Rs 15,000 per month.
The Provident Funds Scheme Regulation will be amended to allow the workers to draw up to 75 percent of the amount standing to the credit of a member or three-months wages, whichever is lower. This is a non-refundable advance. Collateral free loans up to Rs 20 lakh will be provided to women self-help groups and will benefit 7 crores families nearly 8 crores of BPL families will be given free cylinders for the next three months. Over 8 crore families are expected to benefit women Jan Dhan account holders will be getting an ex-gratia amount of Rs 500 for the next three months. This will benefit 20 crore women for the old aged, widows and the ‘divyangs’ an ex-gratia of Rs 1,000 will be given in two installments in the next three months and will benefit over 3 crore peopleMNREGA wages to be hiked, from Rs 182 to Rs 202 a day (Rs 2,000 per worker additional income). This will benefit 5 crore families under the cash transfers, DBT cash transfers will touch farmers, MNREGA, widows, pensioners, disabled, women with Jan Dhan accounts, women receiving Ujjwala scheme, self-help group women, organized sector workers (through EPFO), construction workers. Farmers will be given the first installment of the PM Kisan Yojana as frontload. Over 8 crore farmers will benefit from this scheme.

32 thoughts on “FM Nirmala Sitharaman announces Rs 1.7 lakh crore relief package for poor”

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