Union Finance Minister Nirmala Sitharaman on Thursday announced a Rs 1,70,000 crore economic package for the poor, migrant workers and for those sections of society who need help to tide over the challenge of the nationwide lockdown and job losses during the outbreak of the coronavirus.
Called the ‘Prime Minister Gareeb Kalyan Scheme’, it will address the concerns of the poor and all those medical and paramedical staff who are in the frontline of the coronavirus crisis tackling the pandemic.
Besides food, the package includes a cash component that is divided into eight heads that cover all sections of society, including pensioners, women and the specially abled, Sitharaman said. Here’s all you need to know about the Centre’s economic bailout package:
* The Pradhan Mantri Gareeb Kalyan Yojna will be applicable for the next 3 months.
*It will cover an estimated 80 crore poor people about two-thirds of the Indian population.
* In addition to already allotted 5 kg of rice/wheat per person, an additional 5 kg will be free. An additional 1 kg of pulses (according to regional preference) will be given, the finance minister announced.
*A special Rs 50 lakh medical insurance cover is being offered to the frontline medical workers working to avert the huge health crisis – the doctors, nurses and their support medical staff.
*Increase of wages in MGNREGA: Five crore families will be benefited and it will translate into an increase of Rs 2000 per worker on average as additional income.
*The government has increased the wages under the rural job guarantee programme MGNREGA to Rs 202 from Rs 182. This will be for five crore workers.
*There will be Rs 50 lakh insurance per health care worker as a medical insurance cover for them for three months.
*Around 8.69 crore farmers will be immediately benefited through Direct Cash Transfers. An instalment of Rs 2000 will be sent in the first week of April.
*Women Jan Dhan account holders will get ex-gratia payment of Rs 500 per month for the next three months. This will benefit over 20 crore women who have Jan Dhan accounts.
All over the country, three crore widows, pensioners and the specially abled would receive a one-time ex-gratia payment of Rs 1,000.
*Nearly 8.3 crore families who are below poverty line will get free cooking gas cylinders for the next three months.
*Those under the women self-help groups under the Deen Dayal Yojana who are eligible for collateral-free loans of up to Rs 10 lakh can now get Rs 20 lakh.
*For the organised sector, Sitharaman announced a hike in provident funds and withdrawal limits.
*The Centre will pay PF for both the employee and employer for the next three months for firms that have up to 100 employees and 90 per cent of the employees earn less than Rs 15,000 per month. These employees would be able to get non-refundable advance to 75 per cent from the fund or three months’ wages — whichever is less — from their EPFO.
Finance Minister Nirmala Sitharaman is heading the task force which is evaluating the financial fallout of the coronavirus pandemic. The Central government on Thursday outlined an initial bailout package for the people and industry as the number of positive coronavirus cases touched 649 with India reporting 10 deaths so far.
