The KEY HIGHLIGHTS Of Nirmala Sitharaman PRESS CONFERENCE dated March 26, 2020 :
1). The government contributes 12% from the employee and employer side to the PF, for firms having less than 100 employees:-
The government will contribute 12% from the employer side and 12% from the employee side to PF accounts. This for those firms where there are less than 100 employees, 90% of who draw less than 15,000 per month in wages.
2). EPFO schemes regulation will be amended to allow the non-refundable advance of 75% of the standing amount :-
Due to the Covid-19 pandemic, EPFO schemes regulation will be amended to allow the non-refundable advance of 75% of the standing amount or three-month wages, whicever is lower. This will benefit 4.8 crore workers.
3). The government will pay the EPF contribution :-
The government will pay the EPF contribution, both of the employer and employee, ie. 24% for the next three months. This is for all those establishments which have up to 100 employees, out of which 90% of employees draw less than Rs 15,000 per month.
4). Ujjwala Yojna beneficiaries to get gas cylinders free for the next three months :-
In the PM Garib Kalyan Yojna, the Finance Minister announced that Ujjwala beneficiaries will get free gas cylinders for thee months.
5). FM doubles collateral-free loans to Rs 20 lakh for Self Help Group women:-
Collateral free loans doubled to Rs 20 lakhs for Self Help Group women, to help 7 crore women.
6). ‘No one will remain hungry’; government brings in food, cash relief amid coronavirus :-
Finance Minister Nirmala Sitharaman has come up with a Rs 1,70,000 crore relief package for the daily wage earners, women workers, and migrant workers as the country remains in a 21-day lockdown period due to coronavirus outbreak.
7). 8.3 crore BPL family will get free LPG cylinders:-
To provide an adequate supply of cooking gas, for the next three months 8.3 crore BPL family will get free cylinders.
8). Woman Jan Dhan account holders will get an ex-gratia amount of Rs 500 per month :-
20 crore woman Jan Dhan account holders will get an ex-gratia amount of Rs 500 per month for the next three months, to fight coronavirus.
9). Senior citizens, widows, and Divyangs to get a one-time additional payment of Rs 1000 :-
Senior citizens, widows, and Divyangs to get a one-time additional payment of Rs 1000 in two installments for the next three months. This is expected to benefit 3 crore such people under Direct Benefit Transfer.
10). FM Sitharaman’s package to help directly affected, migrants workers, urban and rural poor :-
“We have come with a package that will immediately help those affected directly, those migrants workers, urban and rural poor. We are looking both at cash transfers as well as food security measures,” Sitharaman said.
11). FM announces immediate transfer of Rs 2000 to farmers :-
FM announces the immediate release of Rs 2000 to directly benefit 8.69 crore farmers.
12). 5 kg of rice, wheat-free for 80 crore people for three months:-
Under Pradhanmantri Garib Kalyan Yojana, 5 kg rice or wheat will be given for free for the next three months. Besides, 1 kg pulse available regionally will also be given for free to 80 crore people.
13). 5 KG additional rice or wheat per household to be given by the Government :-
For the next three months, an additional of 5KG of rice or wheat will be given free by the government to the poor.
14). Rs 50 lakh per person insurance for medical workers :-
We are fighting this emergency on a war footing, said MoS Finance, Anurag Thakur while he uinveiled a Rs 50 lakh per person insurance for medical personnel.
15). Govt announces medical insurance cover of Rs 50 lakh :-
FM Sitharaman has announced Rs 50 lakh medical cover per person for the government’s sanitation workers, ASHA workers, doctors, paramedics, others if they need it. The scheme is to benefit 20 lakh, such workers.
16). Govt’s economic package includes relief for daily wage workers :-
We do not want people to stay hungry or without money in their hand, said FM Sitharaman.