Nirmala Sitharaman announces Rs. 1.7 lakh crore Economic Relief Package for poor

On Thursday, Finance Minister Nirmala Sitharaman announced a Rs 1,70,000 crore relief package planned to protect the poor during the current COVID-19 crisis.

FM Sitharaman has announced a series of economic steps to help people survive despite coronavirus scare.

The Ministry of Finance said that in the account of 8.7 crores farmers under PM Kisan Samman Nidhi, Rs 2000 would be immediately at the front-lead. Also, 5 kg of rice or wheat-free of charge, and 1 kg of pulse under PM Garib Kalyan Package, while LPG cylinders will also be issued free of charge of Ujjwala Yojana beneficiaries for the next three months.

She revealed the ‘ Prime Minister Garib Kalyan Scheme ‘ kit. It includes an insurance policy of 50 lakh rupees per person for all the physicians, paramedics and health care staff who are trying to control the Coronavirus outbreak.

The finance minister also stated that 3 crore senior citizens, disabled persons (Divyangs) and widows would receive a one-time additional sum of Rs 1,000 in two installments, to be provided through DBT over a three-month period.

While the government declared that for the next three months, 20 crore woman Jan Dhan account holders will get an ex-gratia sum of Rs 500 per month, it also doubled collateral-free loans to Rs 20 lakhs for women in the Self Help Community, benefiting 7 crore people. Many big developments included an amendment to the PF law, relief for construction workers, etc.

The central government has issued orders to states to use funds worth Rs 31,000 crore to provide relief for the welfare of construction and maintenance workers.

The government has announced the economic relief package to assist ailing companies, daily wage laborers, poor families and others who have been financially impacted by the Covid-19 constraints.

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