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FM Nirmala Sitharaman Rolls Out Covid-19 Economic Relief Package; Here Are The 10 BIG Announcements

Last updated on March 27, 2020

Covid-19 Economic Relief Package: Nirmala Sitharaman introduced that 69 crore farmers can be instantly benefited via Direct money transfers. Installment of Rs 2000 within the first week of April can be transferred.

News Delhi: In the wake of the coronavirus outbreak in India and the 21-day lockdown, the federal government on Thursday introduced a serious reduction fund price Rs1.7 lakh crore for the poor individuals, in a bid to keep off a monetary disaster, which will comply with the pandemic. Finance Minister Nirmala Sitharaman addressed the media amid excessive hopes of a stimulus package deal and made the next bulletins:

  • A package deal is prepared for the poor who want instant assist like migrant employees and concrete and rural poor. No one will go hungry. The package deal is price Rs 1.7 lakh crore.
  • There can be Rs 50 lakh insurance coverage per well being care employee as a medical insurance coverage cowl for them for 3 months. Hopefully, we’d have the ability to comprise the virus on this interval.
  • Pradhan Mantri Gareeb Kalyan Ann Yojna(for subsequent Three months):80 cr poor individuals coated(2/third of India’s inhabitants), along with already allotted 5Kg of rice/wheat per particular person,an extra 5kg can be free. Additional 1kg pulse (acc to regional choice) can be given.
  • 69 crore farmers to be instantly benefited via Direct money transfers. Installment of Rs 2000 within the first week of April can be transferred.

Also Check: LIVE Updates On Coronavirus In India

  • Wage enhance in MGNREGA- 5 crore households benefited, a rise of Rs 2000 per employee on common as further earnings.
  • Old age, Divyang, pensioners: Three crore individuals coated, one-time quantity of further Rs 1000 in two installments via DBT (therefore no middlemen) over Three months to be given. 20 crore Jan Dhan Women account holders covered- Ex gratia quantity of Rs 500 monthly for the subsequent three months, broadcasts FM Sitharaman.
  • Self Help ladies teams (7 crore homes holds coated), collateral-free loans doubled to 20 Lakh, to extend cash in hand, broadcasts Finance Minister Nirmala Sitharaman.

  • Ujjawala scheme close to 8.Three crore BPL households coated on this, in order that no working in need of cooking medium, for Three months free cylinders.
  • Govt of India pays the Employees’ Provident Fund(EPF) contribution, each of employer and worker, put collectively will probably be 24%, this can be for subsequent Three months.This is for these institutions which have upto 100 staff and 90% of them earn much less that 15,000. Govt able to amend the regulation of EPF attributable to this pandemic in order that employees can draw upto 75% non-refundable advance from credit score in PF account or Three months wage, whichever is decrease. This determination goes to learn 4.Eight crore employees.
  • Welfare for constructing and building employees, registered 3.5 crore employees to be benefited, Central Govt has given orders to State Govts to make use of fund (Rs31,000 crore) to offer reduction, broadcasts FM Sitharaman. District Mineral Fund: Central Govt to request State Govts to make use of this fund to reinforce medical testing and screening and offering well being consideration, broadcasts FM Sitharaman

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