Corona Relief Package: List of Economic Stimulus Package Announced by FM Nirmala Sitharaman

The Finance Minister Nirmala Sitharaman addressed the nation on 26 March again to announce Economic Relief Package of Rs 1.7 lakh cr to aid the citizens amid Coronavirus Outbreak. The nation is under s lockdown of 21 days till 14 April in this fight against COVID-19 and this lockdown has effected every group of people, amongst which the economically weaker section is hardest hit. FM has announced PM Gareeb Kalyan Scheme will entail Rs 1.7 lakh crore and it will include both cash transfer and food security. Keep on reading to know about the latest highlights of the FM Nirmala Sitharaman’s speech.

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PM Gareeb Kalyan Yojana: Finance Minister Nirmala Sitharaman said, “Every one under this scheme will get 5 kg of wheat/rice for free in addition to what they are already getting. We will also give one kg of one choice of pulse to each household under this scheme for the next three months. They can take it in two installments also,”

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Prime Minister Gareeb Kalyan Yojana will also include Rs 50 lakh health insurance per health care worker for three months.

Women Jan Dhan account holders will get Rs. 500 per month for the next 3 months. 20 crore women Jan Dhan Account holders will be benifited from this.

Ujjwala scheme- Women will get free LPG cylinders for next 3 months, 8.3 crore BPL families will be benefited with free LPG cylinders

State governments to be directed under Buildings and Other Construction Workers’ Fund to utilise an existing Rs 31,000 crore welfare fund for benefit of 3.5 crore construction workers.

The Finance Minister has announced that women self-help groups can get collateral free loan upto Rs.20 Lakh. Earlier the limit was Rs. 10 Lakh. The Finance Minister has said “There are 63 lakh self-help groups for women in the country. They get up to Rs 10 lakh collateral-free loans right now. We are doubling that to Rs 20 lakh,”

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The Central Government has requested the State Govt to use District Mineral Fund to provide aid in medical testing and healthcare attention in state’s on COVID-19

The Centre will contribute 24% towards EPF for firms with over 100 employees- Centre will the Employee Provident Fund contribution 12% of each – of the employer and the employee both for next 3 months.

Direct benefit cash transfers will benefit the following

1. Farmer:
2.MNREGA
3.Widows/Pensioners
4. Jan Dhan Yojana
5. Ujwala Scheme
6. Self Help Women Groups
7. Organised Sector Workers (EPFO)/ Construction workers

4.8 crore EPFO registered workers can withdraw 3-month wages or 75% of their PF fund, whichever is lower as a non-refundable advance.

PM-KISAN Scheme: Wages of farmers have been increased under MNREGA scheme and this will benefit 5 crore families. FM has announced that Rs 2,000 to be transferred to immediately in first week of April to farmers.

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