Union Finance Minister Nirmala Sitharaman on Thursday had made an announcement of a comprehensive economic package that will deal with the impact of deadly coronavirus outbreak. Earlier on Tuesday, Sitharaman had relaxed timelines for filing income tax (I-T) returns and raised default thresholds for invoking bankruptcy proceedings.
Following are the Top Updates of Finance Minister’s briefing:
Rs 1.7 lakh crore package: It is for those who are in “immediate need” with an aim to put money in their hands
Health insurance cover: Rs 50 lakh per person for frontline warriors (doctors, nurses, sanitation, ASHA or government workers)
Garib Kalyan Anna Yojana: 5 kg of wheat/rice per person will be given for the next three months in addition to the 5 kg which is already given; 1 kg of pulse per household
Cash transfer based on DBT (direct benefit transfer):
- Farmers, who get Rs 6,000 annually under PM-Kisan, will get the first instalment of Rs 2,000 in addition and it will be given immediately in the first week of April.
- MGNREGA: Wages under the scheme has been increased (Rs 2,000 per worker on average as additional income)
- Widow/poor widows/poor/’divyang’/senior citizens: Ex-gratia Rs 1,000 (to be given in two instalment)
- Women Jan Dhan Yojana: Ex-gratia amount of Rs 500 per month (next three months)
- Ujjwala Scheme: For the next three months, free cylinders will be given to those who are enrolled in the scheme
- Self-help group women dealing with livelihood missions: Collateral free loan amount increased to Rs 20 lakh from Rs 10 lakh
- Organised sector: Govt to pay EPF contribution (both employer and employee) for the next three month for those establishments which have up to 100 employees and 90% employees earning less than Rs 15,000
Workers can withdraw up to 75% from the PF funds (non-refundable advance) or three months of wages (whichever is lower)
- Constructions workers: The Centre directed state governments to use the fund of Rs 31,000 crore to provide relief