Finance Minister Announces Rs 1.7 lakh Crore Coronavirus Relief Package


A series of announcements made today by Finance Minister Nirmala Sitharaman under the governments fiscal package to fight economic stress from the COVID-19 virus to take care of poor, workers and those who need immediate help.

Please find the salient feature of the announcements
1. PM Gareeb Kalyan Scheme will be worth Rs 1.7 lakh crore.
2. Announcement on Cash transfers and Food security.
3. A medical insurance cover of Rs 50 lakh per person for health care professionals covering doctors, nurses, paramedical staff, sanitation workers all in such services.
4. Twenty lakh health services and ancillary workers will benefit from the insurance scheme.


Announcement on Food Security

  1. PM Garib Kalyan Anna Yojana will cover 80 crores, poor people.
  2. Each one will get free 5 kg of rice and wheat add to the current 5kg allocation for the next three months.
  3. We will also give every household 1 kg of preferred pulse-free for the next three months.
  4. This can be availed in two instalments.


DIRECT BENEFIT TRANSFER

Eight specific announcements being made, primarily covered by DBT and including farmers, MNREGA, poor widows, pensioners and divyaang, women with Jan Dhan Yojana, women covered by Ujwala scheme, women in self-help groups covered by livelihood missions. Organised sector workers registered with EPFO, Construction workers. Last, those under district mineral fund coverage.

Details


1. Farmers to get the first instalment of PM Kisan frontloaded. To benefit 8.69 crore farmers.
2. Wage increase in MNREGA from Rs 182 to Rs 202. To help five crore families, each worker will get an additional Rs 2,000
3. Three crore poor senior citizens, widows, disabled to get one-time ex-gratia amount of Rs 1,000 in two instalments
4. Twenty crore women Jan Dhan account holders will get an ex gratia amount of Rs Rs 500 per month for three months.
5. Women in 8.3 crore BPL families covered under Ujwala scheme will get free cylinders for three months
6. Doubling collateral-free loan amount to Rs 20 lakh for women in self-help groups. Seven crore households to benefit through 63 lakh SHGs
7. The government will pay EPF contribution for employer + employee for three months. For those establishments which have up to 100 employees and 90 per cent employees earn less than Rs 15,000 pm. Total benefit 80 lakh workers.
8. PF Scheme regulations to be amended to allow the non-refundable advance of 75 per cent of the amount in the account or three months of wages whichever is lower. To benefit 4.8 crore workers.

9. To direct the state government to utilise Rs 31,000 crore funds in construction welfare fund to support 3.5 crore construction sector, workers.

10. To use district mineral welfare fund to fund medical testing, screening.

Find the announcement footage here

Source:-https://www.bloombergquint.com/economy-finance/nirmala-sitharaman-press-conference-live-finance-minister-likely-to-unveil-coronavirus-relief-measures