December 1, 2020

Coronavirus: Finance Minister Nirmala Sitharaman announces Rs 1.7 lakh crore coronavirus package

NFTV:India: New Delhi: Today Union Finance Minister Nirmala Sitharaman has announced a financial package of Rs 1.7 lakh crore to help people deal with the crisis which emerges due to coronavirus (COVID 19 ) pandemic. Addressing the press, FM Sitharaman said that her government is ready for the poor, who were in desperate need of help, and ‘no one will be left to starve.

Major highlights of FM Sitharaman’s announcement

  • Rs 1.7 lakh crore economic package will be implemented with immediate effect; cash doles from April 1: FM Sitharaman
  • District Mineral Fund: Central Govt to request State Govts to use this fund to increase medical testing and screening and providing health attention facelities , announces FM Sitharaman .
  • Govt ready to amend the regulation of EPF: FM SitharamanGovt ready to amend the regulation of EPF due to this pandemic so that workers can draw up to 75% non-refundable advance from credit in PF account or 3 months salary, whichever is lower: FM Sitharaman due to this pandemic so that workers can draw up to 75% non-refundable advance from credit in PF account or 3 months salary, whichever is lower: FM Sitharaman
  •  Self Help women groups (Seven crore houses holds covered), collateral-free loans doubled to 20 Lakh, to increase money in hand, announces Finance Minister Nirmala Sitharaman .
  •  FM Sitaraman announces increase in MNREGA wage to Rs 202 a day from Rs 182 to benefit 5 crore families
  • The Union Government has been working hard to reach out with tangible benefits to the people who’re directly affected by the lockdown: FM Nirmala Sitharaman.
  • The Provident Fund Scheme regulations will be amended because of Coronavirus Outbreak Workers can draw 75% of deposit or 3-month wages, whichever is lower, as non-refundable advance. Will benefit 4.8 crore workers registered with EPFO
  • Government of India will pay the EPF contribution – of both employer and employee (10% each) – for the next three months, so that nobody suffers due to loss of continuity in EPF contribution for all such establishments which have less than 100 employees, out of which 90% of whom draw less than 15000 rupees per month as wages/salary
  • Collateral-free loans for Self Help Groups can now be obtained up to 20 lakh rupees, this will benefit 63 lakh SHGs and have an impact on 7 crore households
  • 8.3 crore BPL families to benefit from Government’s decision to give free LPG cylinders to woman beneficiaries of Ujjwala scheme
  • 20 crore woman Jan Dhan account holders to be given ex-gratia amount of 500 rupees per month for the next three months, to run the affairs of their household
  • One-time amount of 1000 rupees to be given to senior citizens, widows and Divyang people, in two installments over the next three months Expected to benefit 3 crore people
  • A wage increase from 182 rupees to 202 rupees, under MGNREGA, resulting in an additional income of 2000 rupees, benefitting 5 crore families
  • The first installment under Pradhan Mantri Kisan Samman Nidhi will be frontloaded, giving immediate benefit to 8.69 crore farmers
  • 80 crore people will benefit from this scheme, under Pradhan Mantri Garib Kalyan Yojana
  • In addition to the 5 kg of wheat/rice, each person to get additional 5 kg of PDS wheat and rice per person for free for next three months, additional of 1 kg of pulses to be given for each household so that no poor person goes to starve
  • We are providing an insurance cover of 50 lakh rupees per person to frontline combating COVID 19 – Asha workers, paramedics, doctors, nurses, sanitary workers – who are putting their lives at risk & treating Coronavirus infected patients