Finance Minister Nirmala Sitharaman, who is heading the economic task force to combat the coronavirus pandemic, on Thursday outlined a Rs 1.7 lakh crore bailout package for the poor, farmers, SHGs, and the organised sector to help them battle any economic disruption.
Sitharaman unveiled a slew of measures under the Pradhan Mantri Garib Kalyan Yojana; here’s what the scheme offers
1. PM Garib Kalyan Yojana will include cash transfers to the poor and migrants.
2. About 80 crore people will come under the Pradhan Mantri Garib Kalyan Anna Yojana (food scheme). Everyone under this scheme will get 5 kg of wheat/rice for free in addition to what they are already getting. The government will also give 1 kg of one choice of pulse to each household under this scheme for the next three months. People can take it in two installments as well.
3. The Finance Minister has announced medical insurance cover of Rs 50 lakh per healthcare worker.
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4. Farmers receive Rs 6,000 every year through the PM-KISAN scheme. The government will now be giving the first installment upfront. About 8.69 crore farmers are expected to benefit from this immediately.
5. The government expects that wage increase under MNREGA will benefit 5 crore families. The wage increase will amount into an additional income of Rs 2,000 per worker.
6. The government will offer cash transfer through DBT (direct benefit transfer) in eight parts: Farmers, MNREGA, widows, poor pensioners, divyang, women under Jan Dhan Yojana, women and households under Ujjwala scheme, self-help groups for women including those under the livelihood mission, organised sector workers under EPFO, construction workers and district mineral funds.
7. ‘Divyangs’, poor senior citizens, widows will get Rs 1,000 over the next three months.
8. For 63 lakh SHGs, which help 7 crore households, the government is doubling collateral-free loans to Rs 20 lakh.
9. About 8.3 crore families below poverty line will get free LPG cylinders for three months.
10. The government of India will pay the EPF contribution, both of the employer and employee (12 percent each), for the next three months. This is for establishment which have up to 100 employees, with 90% of them earning less than 15,000.
11. EPFO Scheme’s regulations for organised sector will be amended to allow non-refundable advance of 75% of the amount standing to the credit of the worker or three months’ wages, whichever is lower. This will benefit 4.8 crore workers who are registered with EPF and in a position to withrdraw money.
12. The state governments have been directed to use the welfare fund for building and construction labourers. The District Mineral Fund, worth about Rs 31,000 crore, will be used help those who are facing economic disruption because of the lockdown.
13. 20 crore woman Jan Dhan account holders to be given ex-gratia amount of 500 rupees per month for the next three months, to run the affairs of their household.
