Coronavirus: FM Sitharaman announces package worth Rs 1,70,000 crore for poor, daily wagers

Coronavirus: FM Sitharaman announces package worth Rs 1,70,000 crore for poor, daily wagers

Coronavirus: FM Sitharaman announces package worth Rs 1,70,000 crore for poor, daily wagers
These cases are perfectly simple and easy to distinguish

Coronavirus: FM Sitharaman announces package worth Rs 1,70,000 crore for poor, daily wagers

Finance Minister Nirmana Sitharaman on Thursday announced an economic stimulus package to help the nation tackle the financial difficulties arising from Covid-19 outbreak. Sitharaman said the economic relief package will focus primarily on migrant labourers and daily wage labourers.

"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," Sitharaman said.

The package will include a mix of food security and direct cash transfer benefits, which shield poor families during the lockdown. This will be done under the Pradhan Mantri Gareeb Kalyan Ann Yojna.

Free Ration to poor for next three months

For organized Sector : GOI will amend the regulations so that workers can draw 75% of fund for contingency expenditure or 3 months of wages, whichever is lower. The same will not be required to be paid back to EPFO.

 Government of India will pay the EPF contribution both of the employer (12%) and employee (12%) for next three months for all those establishments which have upto 100 employees and 90% of whom draw less than 15000 per month.

Collateral Free loan worth INR 20 lacs to poor women of Self Help Group and will benefit about 7.40 Crores

Free Gas Cylinders to poor who were given Cylinders under Ujjawala Scheme for next three Months . In addition to this they will also get INR 500 per month for next three months

For construction workers, a welfare fund is there by Central Government Act. It has 3.5 Crores registered workers. The fund is available of about 31,000 Crores. The GOI will instruct State Governments to use the said fund for benefit of those workers. This will enable the workers not to come out for work for in view of lockdown.

INR 1.70 Lakh Crores for the Poor : FM in Covid Release Package

This is basically by increasing the limit of INR 10 lacs as collateral free to 20 lacs Collateral Free

 Lockdown for three months? Centre mulls financial package for the poor, unorganised sector: Report

The Central is looking to tackle the situation with a three-week to three-month long action plan, including a financial package, according to a news report.

The plan will include inputs from at least 14 ministries and the state governments to deal with the virus at "various stages of the outbreak," the news report adds.

First installment of Rs. 2000 to farmers to 8.69 Crore Farmers

5 Crores Manrega families by increasing daily wages from 182 to 202.