Nirmala Sitharaman press conference LIVE: Government announces Rs 1.7 lakh crore relief package for poor
It comes at a time when countries across the world are rolling out measures to help their citizens. The US, most noticeably, will be pledging an unprecedented 2.2 trillion dollars.
Finance Minister Nirmala Sitharaman addresses a press conference in New Delhi. (Photo | Parveen Negi, EPS)
NEW DELHI: Finance Minister Nirmala Sitharaman has announced a Rs 1.7 lakh crore relief package for the poor to help them deal with the impact of coronavirus outbreak.
With the coronavirus lockdown hitting everyone - particularly the poor - these relief measures were widely expected.
It comes at a time when countries across the world are rolling out measures to help their citizens. The US, most noticeably, will be pledging an unprecedented 2.2 trillion dollars.
At this stage the government is more concerned about reaching out to the poor who need help: Finance Minister Sitharaman
Finance Minister Nirmala Sitharaman. (Photo | EPS)
For the unorganised sector under PM Gareeb Kalyan Yojana
Government will give directions to state governments to utilise the welfare fund that is there for building and other construction workers. There are about 3.5 crore registered workers and Rs 31,000 crore.
For testing and screening activities
State government has been directed to utilise mineral fund for supplementing all types of medical screening activities necessary to contain the spread of COVID-19.
For The Organised Sector Under PM Gareeb Kalyan Yojana
The government of India will pay the EPF contribution - 24 per cent - of both employer and employee for the next three months. This is for those establishments which have over 100 employees, 90 percent of which earn below Rs 15,000 per month.
EPFO scheme regulations to be amended to allow non-refundable advance of 75 per cent from their contingency fund, or three months wages, whichever is lower. This will benefit 4.8 crore workers registered with EPF.
For health care workers: Insurance cover of 50 lakh rupees per person
We are providing an insurance cover of 50 lakh rupees per person to frontline #CoronaWarriors - ASHA workers, paramedics, doctors, nurses, sanitary workers - who are putting their lives at risk & treating #Coronavirus patients
— PIB in Maharashtra #StayHome 🇮🇳 (@PIBMumbai) March 26, 2020
Women under the Ujjwala scheme will be given free cylinders
Women under the Ujjwala scheme will be given free cylinders for three months. It is expected to benefit 8.3 crore families below the poverty line.
Through 63 lakh women self help groups, 7 crore households will get Rs 20 lakh in collateral-free loans. They get upto Rs 10 lakh collateral-free loans currently.
Package for MNREGA workers, Senior citizens and women
Additional Rs 2,000 will be given per worker by increasing wage rate under MNREGA.
Senior citizens, widows and the disabled will get a one-time amount of Rs 1,000 over the next three months, in two installments. This will benefit 3 crore people. This will be a direct benefit transfer.
The 20 crore women Jan Dhan account holders will get a one-time amount of Rs 500 per month for the next three months
Direct Benefit Transfer Announcements
8.69 crore farmers to be immediately benefited through Direct cash transfers
Farmers who currently receive Rs 6,000 annually, will be given the first installment of the next financial year immediately. 8.7 crore farmers will benefit from it
Installment of Rs 2000 in the first week of April will be transferred
Pradhan Mantri Gareeb Kalyaan Ann Yojana
Nearly two thirds of the population, 80 crore poor people, will get 5 kg of rice or wheat per month, in addition to the 5 kg announced by the Centre, for free.
1 kg of pulse, according to regional preferences, to each household will be given for the next three months. This can be availed of in two installments.
Pradhan Mantri Gareeb Kalyaan Ann Yojana
Nearly two thirds of the population, 80 crore poor people, will get 5 kg of rice or wheat per month, in addition to the 5 kg announced by the Centre, for free.
The package is worth Rs 1.7 lakh crore
A package is ready for the poor who need immediate help like migrant workers and urban and rural poor. No one will go hungry. The package is worth Rs 1.7 lakh crore: Finance Minister Nirmala Sitharaman
The package will include cash transfer and food subsidy, FM says.
Finance Minister Nirmala Sitharaman. (Photo | PTI)
We have come with a package which immediately take care of the poor
“It has been only 36 hours since the lockdown was imposed. Now we have come with a package which immediately take care of the welfare concerns of the poor and suffering workers and those who need immediate help,” says Sitharaman.
Finance Minister Nirmala Sitharaman begins addressing the press meet.
On Tuesday, the Centre hiked monthly quota of subsidised foodgrains to 7 kg
The Union Cabinet, led by Prime Minister Narendra Modi, decided to provide 7 kg of ration to 80 crore people. (READ MORE)
What will today's press meet be about?
According to some reports, today's press meet is said to be focused on micro, small and medium enterprises (MSMEs) and daily wage workers besides injecting liquidity in the market.
Here's a snapshot of the list of measures FM announced on Tuesday
Finance Minister Nirmala Sitharaman, on Tuesday, announced a slew of measures to reduce the stress on coronavirus-hit India Inc and India. (READ MORE)
