Nirmala Sitharaman, India’s finance minister, speaks during a press conference in New Delhi. (Photographer: T. Narayan/Bloomberg)
6 years ago
Mar 26, 2020
Nirmala Sitharaman Press Conference Live: Finance Minister Nirmala Sitharaman has announced a coronavirus relief package for India, even as the Covid-19 count rises to 649. Here's a look at the 10 key announcements.
When asked about where the schemes will be funded from, the Finance Minister said that at this stage the government is more concerned about reaching out to those who need help.
“Will try helping those poor who do not have Jan Dhan bank accounts,” she added in response to a different question.
The central government has directed the state government to utilise the mineral fund for supplementing all types of medical and screening activities necessary to fight the spread of coronavirus.
There is a welfare fund for building and other construction workers. It has 3.5 crore registered workers and Rs 31,000 crore. Government will give directions to state governments to utilise these funds to protect these workers from economic harm, Sitharaman said.
The government of India will pay the EPF contripution of both employer and employee - 12 percent each - 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 will be amended because of the pandemic situation to allow non-refundable advance of 75 percent from their contingency fund, or three months wages, whichever is lower. This will benefit 4.8 crore workers registered with EPF.
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.
Additional Rs 2,000 being given to per worker by increasing wage rate under MGNREGA.
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 poor 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.
Women under the Ujjwala scheme will be given free cylinders for three months. This is expected to benefit 8.3 crore families below the poverty line.
7 crore households, through 63 lakh women self help groups, will get Rs 20 lakh in collateral-free loans. They get upto Rs 10 lakh collateral-free loans currently.
