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Relief program for the poor: FM announces relief program of 1.7 crore rupees for the poor
The program includes measures such as cash transfers, insurance coverage of 50 lakh rupees and measures to ensure food security.
The FM has announced insurance coverage of Rs 50 lakh per person for doctors, paramedics and healthcare workers facing the coronavirus epidemic.
BSE Sensex, which was about 1,400 points higher than the FM bailer, reduced its earnings to trade around 800 points around 1:45 pm (IST).
Under Pradhan Mantri Garib Kalyan Ann Yojna, FM has announced 5 kg of rice or 5 kg of wheat for the next five months. This is in addition to 5 kg or rice or 5 kg of wheat, the government is currently giving.
In addition, FM has announced Rs 1 kg of pulse of each type for the next three months via a public distribution system.
Eight announcements were made in connection with the DBT cash transfer.
For farmers, who receive 6,000 rupees a year via DBT, the FM said the government would collect 2,000 rupees in the first week of April, which would benefit 8.69 crores from farmers.
Under the national law on the guarantee of rural employment in Mahatma Gandhi (MGNREGA), the minimum wage will be raised to Rs 202 per day, against Rs 182 per day. The move is seen adding Rs 2,000 per month of salary to Rs 5 crore families.
People over 60, widows and the disabled will receive 1,000 rupees per month free of charge in two installments. This decision is expected to benefit three million people.
A total of 20.5 crore women, who hold a Jan Dhan account, will receive free 500 rupees per month for the next three months.
Women in the Ujjawala program will receive free LPG bottles for the next three months. A total of 8.3 crore families are expected to benefit from this move.
The government will also contribute to the contribution of the EPF to both the employer (12 percent) and the employees (12 percent), in total 24 percent, for establishments with up to 100 employees. This is subject to companies where 90 percent of the employees earn up to Rs 15,000.
Workers were also allowed to withdraw up to 75 percent of their EPF or three-month wages, whichever is less. A total of 4.8 million workers registered with the EPF should benefit from this move.
Guaranteed free loans to self-help groups (SHG) will be increased to Rs 20 lakh against Rs 10 lakh. The move is seen helping Rs 7 crore households.
More soon…
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