Rs 1.7 lakh crore relief package announced; cash to be transferred directly to poor: FM

1. Finance Minister Nirmala Sitharaman held a press conference at 1pm on Thursday. It is her second address to the media within a matter of a week.

2. The Finance Minister is expected to announce a much-anticipated relief package for the coronavirus-hit economy.

3. In her previous press conference Finance Minister had said that an economic package was being looked at and might be announced sooner than later.

4. Industry leaders and workers are looking up to the package as businesses have taken a severe beating amid the nationwide lockdown, which will be over 20 days from now.

5. Govt is working to help those affected, especially migrant workers. We have come with a welfare package to help poor and the ones who need immediate help.

“No one will go hungry. The PM Gareeb Kalyan Scheme package is worth Rs 1.7 lakh crore”: Finance Minister Nirmala Sitharaman

6. Finance Minister thanks the front line workers and expresses her gratitude to ASHA workers, doctors, sanitary workers, para-medics. She announces a insurance cover for them of Rs 50 lakh per person.

7. Cash transfer to touch upon:

  • Farmer:
  • Widows/Pensioners
  • Jan Dhan Yojana
  • Ujwala Scheme
  • Self Help Women Groups
  • Organised Sector Workers (EPFO)/ Construction workers

8. The Finance Minister said that 8.69 crore farmers will be immediately benefited through Direct cash transfers. Installment of Rs 2000 in the first week of April will be transferred.

9. Ujjwala Scheme women will be given free cylinders for the next 3 months. This will benefit 8.3 crore BPL families.

10. Under National Rural Livelihood Mission scheme collateral loans will be doubled to Rs 20 lakh for women.

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