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Published 14:15 IST, March 26th 2020

IMPORTANT: Here's the DBT cash-transfer portion of Centre's Rs 1.7 lakh cr Covid package

Finance Minister Nirmala Sitharaman on Thursday announced the Direct Benefit Transfer (DBT) of the economic package to tide over the impact of coronavirus.

Reported by: Manjiri Chitre
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Finance Minister Nirmala Sitharaman on Thursday announced a relief package for the poor and the affected persons due to the deadly Coronavirus. According to the minister, the package is worth Rs 1.7 lakh crore, under the Prime Minister Garib Kalyan Yojana. 

Sitharaman added that the government is looking at two aspects- cash transfer and food security-related issues. She said, "A package is ready for the poor who need immediate help like migrant workers and urban and rural poor. No one will go hungry. The government is working for those who are directly affected like migrants, labours, women."

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The DBT cash transfer portion of the package entails the following:

  • "Farmers get Rs 6,000 annually from PM Kisan Yojana. We will now give first installment as front-loaded matter, which will give farmers Rs 2000 upfront, benefiting 8.7 crore farmers."
  • "In the MGNREGS , which benefits 5 crore families, minimum wage will increase to Rs 202 from Rs 182, and ensure 5 crore families get Rs 2000 increment"
  • For the elderly poor, poor widows and disabled - we are giving ex-gratia of Rs 1000 one-time, which will benefit 3 crore, all via DBT
  • 20 Crore Women Jan Dhan holders will get ex-gratia of Rs 500 per month for next 3 months
  • Under Ujjwala Yojana, women to get free cylinders for 3 months, benefiting 8.3 crore BPL families.
  • For SHGs, we will give Rs 20 lakh collateral-free loan as opposed to earlier Rs 10 lakh, impacting 7 crore families
  • By Central act, there's a welfare fund for building and other construction workers, with Rs 31,000 cr fund, with over 3 crore registered workers. Will direct states to use these funds to assist workers in these sectors to protect them against any economic disruption.
  • The govt will also pay EPF contribution of both employer and employee - 12% each - 24% - paid for next 3 months by govt of India.  For all those establishments that have up to 100 employees and 90% of whom earn less than Rs 15,000 per month.
  • The govt said that organised sector workers will be able to draw 75% EPF or three months wages for contingency purposes, benefiting over 4 crore workers - non refundable.

 

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14:15 IST, March 26th 2020