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| Nirmala Sithara |
8 Big Announcements - Nirmala Sitharaman
Finance Minister announced 8 big announcements made for people facing difficulties due to this Lock-down, Finance Minister Nirmala Sitharaman today announced a relief package. Major impact in EPF of Employee and Employer.
For organised sector workers
- Government of India will pay the EPF contribution - both for employer (12%) and employee (12%) - for the next three months so that nobody suffers due to loss of continuity in the EPFO contribution.
- This is for all those establishment who have upto 100 employees, and 90% of who draw Rs 15,000 salary per month.
- The second announcement will benefit 80 lakh employee - the EPFO scheme’s regulations will be amended to allow non-refundable advance of 75% of the amount standing to the credit of the member (for contingency expenditure), or three-month wages, whichever is lower. This will benefit 4.8 crore workers.
For Construction Workers
- Welfare fund for construction workers.
- State governments to utilize Rs 31,000 crore in that fund to and protect these workers against any economic disruption. This will benefit 3.5 crore workers.
For farmers
- 8.69 crore farmers will be benefited through the announcement of direct cash transfers.
- Installment of Rs 2000 will be transferred in their account in the first week of April
For MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) workers:
- The government today increased wages under the scheme by Rs 2000 per worker on average as additional income. This will benefit five crore families.
For poor widows/pensioners/divyang:
- One-time ex-gratia additional support of Rs 1000 announced.
- This will be given through direct benefit transfer (DBT) in two installments in three months.
- This will benefit three crore widows, pensioners and divyang.
For women Jan Dhan account holders:
- A support of Rs 500 per month for the next three month, so that these women are able to run their household in this hour of crisis.
- This will benefit 20 crore such women.
- The money will be transferred through DBT.
For those covered under the Ujjwala scheme:
- The nearly 8.3 crore BPL families, who were benefited by the scheme, will be provided three cylinders for the next three months.
For women self-help group (SHGs)
- There are 63 lakh SHGs which benefit seven crore households in the country.
- The finance minister today announced doubling of collateral-free loans (from Rs 10 lakh to Rs 20 lakh) for the SHGs.
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