Live updates: FM Nirmala Sitharaman announces measures to deal with economic impact of Coronavirus

            
Live updates: FM Nirmala Sitharaman announces measures to deal with economic impact of Coronavirus




Finance Minister Nirmala Sitharaman to hold press conference at 1 PM. As per media reports, FM Nirmala may announce an economic stimulus package.

FM Sitharaman on Tuesday said that an economic package is in works. The FM had extended the deadline for filing income tax and GST returns.

Live coverage:
  • Centre to direct state govt to utilise Welfare Funds for construction workers: FM Sitharaman
  • Government will pay the EPF contribution both of the employer and employee (total 24%) for the next three months: FM said.
  • FM Sitharaman said that “states have been asked to utilise the 31,000 cr in the building and construction workers fund to help the 3.5 cr registered construction workers.”
  • Employees can withdraw 75% of employee provident fund or three-month salary whichever is lower, the move will benefit 4.8 crore workers, says Finance Minister.
  • Will direct states to use District Mineral Fund for medical testing and screening activities for Covid-19: FM Sitharaman
  • Govt shall pay the 24% EPFO contribution for the next 3 months: FM says.
  • FM has announced Rs1.70 lakh crore 'Pradhan Mantri Gareeb Kalyan' scheme to help the needy. FM announced the package to take care of poor, workers and those who need immediate help. Package announced includes both food security and cash transfer components. Finance Minister also announced an insurance cover for healthcare officials & employees.
  • Regarding announcements for the organised sector, FM said Centre will pay the EPF contribution both, of the employer and of the employee (12% each) for the next three months. This is for all those establishments that have up to 100 employees and 90% of whom earn under Rs 15,000 per month.
  • Govt shall pay the 24% EPFO contribution for the next 3 months: FM
  • Provident scheme regulations will be amendment to allow non-refundable advance of 75% or three months’ wages, whichever is lower. This will benefit 4.8 crore workers who are registered with the EPF.
  • First instalment of Rs2,000 under PM Kisan Samman Nidhi will be provided in the first week of April, says Finance Minister.
  • This move will directly benefit 8.69 cr farmers, says Finance Minister says.
  • MNREGA wages will be increased from Rs182 to Rs202, resulting in total rise of Rs2,000; to benefit 5 cr families, the Finance Minister announced.
  • FM Sitharaman said, “Women Jan Dhan account holders to get ex gratia amount of 500/month for next 3 months.”
  • Pradhan Mantri Gareeb Kalyan Ann Yojna (for next 3 months): 80 cr poor people covered (2/3rd of India’s population), in addition to already allotted 5Kg of rice/wheat per person, an additional 5kg will be free. Additional 1kg pulse (according to regional preference) will be given, FM Nirmala announces.
  • Rs50 lakh per person medical insurance cover for all those who put themselves to risks: Nirmala Sitharaman on coronavirus relief measures.
  • PM Gareeb Kalyan Food scheme, “additional” 5 kg wheat/rice & 1 kg of pulses to be given to poor for free for the next 3 months to 80 cr poor.
  • FM Sitharaman: ‘Govt. working so that those affected directly, the poor, migrant workers will have to be reached out to directly. Today’s package will address those who need immediate help.”
  • Have come up with a package to take care of people those who need immediate help. Prime Minister Gareeb Kalyan Yojna worth 1.7lk cr. We are looking at cash transfers and food security, FM says
  • Prime Minister Gareeb Kalyan scheme worth Rs1.70 lakh cr to be introduced. The package will take care of the welfare concerns of the poor and the disadvantaged. We are looking at cash transfers and food security, FM says




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