Rs 1.7 Lakh Crore Package Announced For Poor: All You Need To Know

by GoNews Desk 3 years ago Views 3569

India Announces Rs 1.7 Lakh Cr Stimulus Package
As the gravity of India’s 21-day coronavirus lockdown hit home, the Government on Thursday announced a Rs 1.7 lakh crore package to help the poor and migrant workers, among others who are economically deprived and bearing the brunt of restrictions imposed to stem the pandemic.

"No one will go hungry," said Finance Minister Nirmala Sitharaman at a media briefing. MoS Anurag Thakur, announced alongside that there is a bailout package for affected farmers as well.

Here are the main points:

The scheme includes measures such as cash transfers, Rs 50 lakh insurance cover and steps to ensure food security.

Pradhan Mantri Ann Yojana- 5 Kg rice or wheat and 1 Kg pulses for next 3 months in addition to what they get through PDS. 

Cash Transfer- Persons who will be covered include farmers, MNREGA workers, widows, pensioners, differently-abled persons, women having Jan Dhan Accounts, Ujjwala Scheme beneficiaries, women in Deen Dayal Upadhya Schemes, and construction workers.

DBT Transfer- Farmers getting Rs 6000 annually will get Rs 2000 upfront now.

MNREGA wages to be increased from Rs 182 to Rs 202. Annual benefit of Rs 2000.

Old age people, disabled & widows: Ex-gratia payment of Rs 1000 in two instalments to help 3 crore pensioners. 

Women Jan Dhan account holders to get ex-gratia of Rs 500 a month for next 3 Month.

Ujjwala Scheme Beneficiaries- 8 crore BPL houses to get free cooking gas cylinders for next 3 months.

Women Self Help Groups to get Rs 10 lakh extra loan without collateral. 

Govt of India will pay the EPF contribution of employers and employees (24%) for next 3 months to all those organisations having less than 100 employees and out of that 90 % of the employees are drawing less than 15000/- per month salary. 

EPFO regulation will be amended for 80 lakh employees to allow non-refundable advances of 75% of EPFO account balance or equivalent to 3 months of salary whichever is less.

For 3.5 cr registered construction workers, the govts have Rs 31000 cr of funds. Centre will give direction to state governments to utilise this fund for the benefit of construction workers.

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