Synopsis of Finance Minister’s Press Conference on 26.3. 2020

Circular No.ES/290/2019-20 28th March, 2020

To: Members of the Council

Sub.: Synopsis of Finance Minister’s Press Conference on 26.3. 2020

Dear Member,

We would like to inform you that the Hon’ble Finance Minister, Smt Nirmala Sitharaman in a Press Release on 26th March, 2020 has announced a relief package to fight the economic stress from the COVID-19 virus.

A synopsis of the announcements is given below: -

1. Insurance Cover

Rs. 50 Lakh Insurance Cover for Doctors, Sanitation Worker, Para Medical Staff

2. Food Benefits

Pradhan Mantri Garib Kalyan Anna Yojana (80 Crore people)

--- Additional 5 kg wheat or rice free for next three months

--- Additional 1 kg of pulse free for next three months

--- Can be taken in two instalments

--- Package costing Rs. 1.70 Lakh Crore

3. Direct Benefit Transfer

Farmers

Rs. 2,000 in April 1st Week (8.70 Crore Farmers will get this benefit)

MNREGA

Increase in Wages Rs. 2000 per person (5 Crore Families)

Poor Widows, Pensioners, Divyangs

Ex-gratia Rs.1000 in two instalments (3 Crore senior citizen, poor widows and poor divayang)

Woman having Jan Dhan Yojana

Ex-gratia of Rs.500 per month for next three months (20 Crore Women)

Ujwala Scheme

Free cylinders for next three months (8.3 Crore BPL Families)

Woman Self Help Groups

Loan upto Rs. 20 Lakh without collaterals (7 Crore household)

Organised Sector Workers

Government will pay EPF Contribution for Employer and Employee for next three months (For establishment having upto 100 employees and of these 100 employees, 90% employee earn less than Rs. 15 Thousand)
Non Refundable EPF Withdrawal allowed upto 75% of their balance or 3 months’ wages, whichever is low) (4.8 Crore workers will get benefit)

Construction Workers