Corona Virus Update: Highlights of the Financial Scheme by Nirmala Sitharaman

Finance Minister Nirmala Sitharaman announced a financial relief package worth Rs 1.70 lakh crore to help the nation's poor tackle the financial difficulties arising from Covid-19 outbreak on thisThursday afternoon.

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After the Announcement of Nation Lockdown by Prime Minister Narendra Modi on the Tuesday there has been widespread distress among the daily wagers, laborers and destitute women. Within 36 hours Finance Minister Nirmala Sitharaman announced a financial relief package worth Rs 1.70 lakh crore to help the nation’s poor tackle the financial difficulties arising from Covid-19 outbreak on thisThursday afternoon.  

The daily wages, laborer and rural and urban poor and rural women and those who need immediate help will be getting the benefits of the financial packages under the Pradhan Mantri Gareeb Kalyan Scheme. “There will be various measures through which the poor will be taken care of, no one will go hungry in this nation lockdown at this crisis situation.” ensures Sitharaman.

Major Highlights of the Scheme –

  • The government will take care of the pulses and the grains and protein supplies and also ensure they do not run out of cash. This measure will be carried out by Direct Benefit Transfer (DBT).
    • Under Pradhan Mantri Gareeb Kalyan Ann Yojna the poor who gets 5kg wheat or rice per month per household which will continue and 5kg extra wheat or rice to be provided for free in additional.
    • Also 1kg of the preferred pulse (dal) will be given in additional to what they already get pet household for the next three months which can be taken in two installments through PDS to ensure no household remain unfed.
  • The Cash transfer the DBT will include 8.69 crore farmers who will be given their first installments by first week of April. Increase in wage by Rs. 2000 to the workers under Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). 
  • The poor widow disabled and the poor above 60 years of age will get Rs.1000 in two installments which a one-time payment expected to be of help in this period. 
  • 22.5 crore women with Jan Dhan Account holder will get an ex gratia payment amount of Rs.500 month for three months during this period. 
  • Women under the Ujjwala Scheme will get free cylinders for three months – 8.3 crore BPL families.
  • Women under benefitting 7 crore households under  63 lakhs Self-help groups  under the  Deen Dayal Yojna National Rural Livelihood mission had to allowance to withdraw  10 lakhs collateral free loans now can get upto 20 lakhs .
  • For the organized sector Gareeb Kalyan Yojna the government will pay total 24 % EPF for establishments who have 100 people 90 % earning less than Rs.15000
  • The People of organized sector of 4 lakh establishments the government will amend the regulations so that the workers 75% fund of their own fund in advance or three months wages whichever is lower. This is expected to benefit 4.8 crore workers under Employees’ Provident Fund Organization.
  • For Construction workers by Central Govt Act Welfare fund Rs.31, 000 crore is available, and the State Government has been requested to assist the registered 3.5 crore registered building and other construction workers at this lockdown period.
  • The State Government has been requested to use the District Mineral Fund for medical testing screening health attention will be rendered.

“The economic response task forces through the schemes introduced have ensured the welfare of poor destitute, women and the disabled in this disruption as per the demands and the distress taken into consideration from the media and the social media” said the Minister of State Anurag Thakur.

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Corona Virus Update: Highlights of the Financial Scheme by Nirmala Sitharaman
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Finance Minister Nirmala Sitharaman announced a financial relief package worth Rs 1.70 lakh crore to help the nation's poor tackle the financial difficulties arising from Covid-19 outbreak on thisThursday afternoon.
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THE POLICY TIMES
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