On 26.03.2020, Finance Minister Nirmala Sitharaman made announcements in a press conference to fight the economic stress due the COVID-19 virus which will be implemented immediately.
These announcements are related to the fiscal package which include package to care of poor, workers and those who need help at this pandemic situation which are as follows:
- For doctors, nurses, paramedical staff, and sanitation workers, insurance cover of Rs. 50 lakh per person will be provided.
- The PM Gareeb Kalyan Scheme packages are worth Rs. 1.7 lakh crore so that no one will remain hungry.
- 5kg of rice or wheat free of cost for the needy.
- Cash transfer to various scheme namely
Rs 2000 transferred immediately in first week of April to farmers. The Finance Minister said that 8.69 crore framers will be immediately benefitted through Direct cash transfers.
Per person 5kg rice or 5kg wheat for free for 3 months, 1kg pulse per household as per to the regional preference.
- Widows/ Pensioners
3 crore poor citizen, widows, disabled to get one time ex- gratia amount of Rs 1000 in two instalments.
- Jan Dhan Yojana
Women Jan Dhan account holders will receive Rs. 500 in their accounts so that they can take care of their households for the next 3 months.
- Ujjwala Scheme
Ujjwala Scheme women will be given free cylinders for the next 3 months.
- National Rural Livelihood Scheme
Under this scheme, collateral loans will be doubled to Rs 20 lakh for women.
- PM Gareeb Kalyan Scheme
The government will pay the EPF contribution for both employer and employee for the next 3 months. This is for establishments with upto 100 employees where 90 % earn less than Rs 15000 per month.
This will benefit 4.8 crore workers, the PF Scheme regulations will be amended because of coronavirus to allow employees to draw non-refundable advance of 75% of amount standing to credit or 3 months wages, whichever is lower.
- Workers’ Welfare Fund of Rs 31000 crore to be utilised for construction workers. It is planned to direct State Government to help 3.5 core construction workers to this end.
- Request is made to state governments to utilise district mineral funds for coronavirus testing and medicines.