Nirmala Sitharaman bulletins on Coronavirus: FM unveils Rs 1.7 lakh crore aid package deal, provides free LPG, wheat, rice to poor; key takeaways

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    The Central authorities on Wednesday unveiled an financial package deal value Rs 1.7 lakh crores primarily focussed on the poorest and most susceptible sections of the society.

     Nirmala Sitharaman announcements on Coronavirus: FM unveils Rs 1.7 lakh crore relief package, gives free LPG, wheat, rice to poor; key takeaways

    Nirmala Sitharaman introduced a monetary support package deal value Rs1.7 lakh crore. Screengrab from Finance Ministry stay stream

    In a presser, finance minister Nirmala Sitharaman and Minister of State for Finance Anurag Thakur introduced money doles, subsidies and meals grain grants for the poor aside from some average measures for the organised sector market. Nevertheless, the duo didn’t elaborate on the place from the federal government deliberate to fund the welfare schemes.

    The Finance Minister additionally stored mum on any additional aid measures for decrease center class and the center class revenue teams, small shopkeepers and distributors who depend upon provide chain motion and direct demand in market to earn their dwelling. Moreover, the federal government additionally didn’t decide to any relaxations in EMI and bank card funds for medium revenue households, whose livelihood could also be compromised because of the lockdown.

    Listed here are the important thing takeaways from the financial package deal introduced on Thursday.

    • A monetary package deal value Rs 1.7 lakh crore was introduced which was divided into two components: Pradhan Mantri Gareeb Samman Yojna and Pradhan Mantri Gareeb Samman Anna Yojna.

    For Meals Safety

    • To make sure meals safety for the poorest, the federal government introduced that every one these depending on the Public Distribution System will obtain extra 5 kilograms of wheat/ rice per particular person per thirty days, and 1 kilogramme of pulse per family.
    • Moreover, the federal government will give free LPG cylinders to girl beneficiaries of Ujjwala scheme. 8.Three crore BPL households are anticipated to learn from authorities’s resolution.

    Direct Money Profit 

    • The primary installment underneath PM Kisan Samman Nidhi — a DBT scheme of Rs 6,000 yearly pension for small and medium farmers — will probably be entrance loaded, giving rapid profit to eight.69 crore farmers. This, nevertheless, just isn’t a further dole however an advance fee of the already provisioned for underneath the scheme.
    • The federal government has additionally introduced a wage hike for daily-wage labourers depending on the Mahatma Gandhi Nationwide Rural Employment Assure Scheme (MGNREGA). The present wage of Rs 182 for a day’s work has been raised to Rs 202. This can translate right into a good thing about Rs 2,000 per household for all the interval of 100 days of employment granted underneath the scheme.
    • For senior residents, widows and differently-abled residents from the marginal group, the federal government has provisioned for a one-time dole of Rs 1,000 by direct profit switch. This quantity will probably be transferred in two installments over the following three months and is anticipated to learn Three crore folks.
    • Moreover, 20 crore girl Jan Dhan account holders will probably be given ex-gratia quantity of 500 rupees per thirty days for the following three months, to run the affairs of their family.

    Miscellaneous

    • The federal government may even present Rs 50 lakh insurance coverage cowl to all frontline healthcare employees battling coronavirus for the following three months. ASHA employees, paramedics, medical doctors, nurses, sanitary employees set to learn from transfer.
    • Collateral-free loans to 63 lakh Ladies Self-Assist Teams to be doubled from Rs 10 lakh to Rs 20 lakh. This can put rapid cash within the arms of seven crore households.
    • For development employees, welfare fund for constructing and development employees at the moment having Rs 31 thousand crore will probably be used. This can profit 3.5 crore registered employees.

    For Organised Sector

    • Authorities of India pays the EPF contribution – of each employer and worker (12 p.c every) – for the following three months. That is just for these institutions which have as much as 100 workers, the place 90 p.c of workers incomes lower than Rs 15000 per thirty days.
    • EPF scheme regulation will probably be amended to permit non refundable advance to 75 p.c of the quantity standing to the credit score or Three months wages whichever is decrease. This can profit 4.Eight crore employees

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