Hon FM Ms. Nirmala Sitaraman today announced a package of Rs. 1.7 lakh crore to handle the distress cost due to Corona Virus Pandemic and lockdown announced. 

·        PM Garib Kalyan Scheme will entail Rs. 1.7 lakh crore, which will include direct cash transfer into Jan Dhan accounts through DBT (direct bank transfer) and food security.

·        Insurance coverage of Rs. 50 lakhs for Asha, sanitation workers, doctors, nurses and paramedics who are on the frontline fighting Corona.

·        5 kg of rice or wheat per person per month over and above the present limits through PDS free of cost.  One kg of preferred pulse, region-specific will be given free of cost.  80 crore people will be benefitted.

·        Every Kisan/Farmer will be given Rs. 2000/- per month starting from first week of April 2020.  8.69 crore farmers will benefit.  Wage raise from Rs. 182 to Rs. 202, amounting to increase of Rs. 2000 per worker under MNREGA benefitting 5 crore people.

·        Ex-gratia of Rs. 1000/- for next three months in two instalments of Rs. 500/- for old age/widows.   It will benefit 3 lakh crore senior citizens and widows in the BPL families.

·        Women Jan Dhan account holders will get ex-gratia of Rs. 500 per month for the next three months, which will benefit 20 crore women.

·        Women under Ujwala Scheme will get free cylinders for three months.  This will benefit 8.3 crore BPL families.

·        Women self-help groups under Deendayal National Livelihood Mission, collateral-free loan will be given up to 20 lakhs from present 10 lakhs.  It will impact 7 crore holders through 63 lakh self-help groups.

·        EPFO workers can withdraw 75% for contingency expenditure as non-refundable advance or three months wages whichever is lower.  This will benefit 4.8 crore workers.

·        The EPF contribution of employer and employee for the salary of Rs. 15000/- and below shall be borne by the govt of India up to 100 workers, 90% for three months.

·        For construction workers, state govt has been directed to use welfare fund for building and construction labourers which is around Rs. 31,000 crores.  This will help those who are facing economic disruption because of lockdown. 

·        District mineral fund:  States to mineral fund for testing activities, medical screening, health attention needed to fight Covid.

It is expected a relief package for industries will come soon. CII (Confederation of Indian Industry) has sought a stimulus of 1% of GDP that is Rs. 2 lakh crore.  They have sought a three month moratorium on all loans.  All repayment obligations to be suspended for this period.  MSME’s await your turn.  The poorest of poor have been taken care of.  Humara number bhi ayega!