Nirmala Sitharaman announces Rs 1.7 lakh crore relief package after coronavirus hits India hard

Finance Minister Nirmala Sitharaman is all set to address media at 1 pm today. This will be the second media briefing of the finance minister within a week. Earlier, in a tweet announcing the timing of her briefing via video conference, Nirmala Sitharaman said she would make some announcements about statutory and regulatory compliance matters in context of the Covid-19 pandemic.

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02:17 PM

The central government has directed the state government to utilise the mineral fund for supplementing all types of medical and screening activities necessary to fight the spread of coronavirus.

02:08 PM

All announcements to be applicable immediately

FM Sitharaman said that today's announcements will be rolled out immediately. 

02:07 PM

Collateral free loan for women self-help groups upto Rs 20 lakh

The Finance Minister announced that women self help groups can now avail collateral free loans up to Rs 20 lakh. Earlier the limit used to Rs 10 lakh.
 

02:06 PM

District mineral fund to be utilised for healthcare facility

Government asks state governments to utilise the district mineral fund healthcare facility amid coronavirus scare. 
 

02:05 PM

Rs 31,000 crore fund to benefit construction workers

Centre asks states to utilise Rs 31,000 crore fund to benefit construction workers to benefit 3.5 crore such workers.
 

01:59 PM

Government to contribute 12% from the employee and employer side to the PF, for firms having less than 100 employees.

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.

01:58 PM

EPFO schemes regulation will be amended to allow the non-refundable advance of 75% of the standing amount

Due to 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. 

01:56 PM

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 upto 100 employees, out of which 90% employees draw less than Rs 15,000 per month.

01:51 PM

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.  
 

01:49 PM

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. 
 

01:47 PM

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.

01:45 PM

Senior citizens, widows, and Divyangs to get one-time additional payment of Rs 1000

Senior citizens, widows, and Divyangs to get 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. 

01:44 PM

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.
 

01:41 PM

FM announces immediate transfer of Rs 2000 to farmers

FM announces immediate release of Rs 2000 to directly benefit 8.69 crore farmers. 

01:41 PM

Cash transfer based on DBT

Farmers who get Rs 6,000 annually under PM-Kisan will get first installment of Rs 2,000 in addition which will be given immediately in the first week of April.

01:38 PM

5 kg 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. 

01:38 PM

5 KG additional rice or wheat per household to be given by the Government

For the next three months an addition 5KG of rice or wheat will be given free by the government ot the poor. 
 

01:35 PM

People can take the extra free grain in two installments: Finance minister
 

01:33 PM

Pradhan Mantri Gareeb Kalyaan Ann Yojana

80 crore poor people - nearly two thirds of the population - will get five kg of rice or wheat per month, in addition to the 5 kg they already receive, for free.

01:31 PM

Govt announces medical insurance cover of Rs 50 lakh

FM Sitharaman has announced Rs 50 lakh medical cover for government's sanitation workers, ASHA workers, doctors, paramedics, others, if they need it.

01:30 PM

Nirmala Sitharaman announces economic package of Rs 1.70 lakh crore, to help especially migrant workers, poor

01:28 PM

Government Announces Prime Minister Garib Kalyan Scheme

“It’s only 36 hours since the lockdown has been imposed. Now we have come with a package which immediately take care of the welfare concerns of the poor and suffering workers and those who need immediate help,” Sitharaman said. The package will include cash transfer and food subsidy, she said.

01:26 PM

FM press conference starts

FM Sitharaman starts press conference

01:22 PM

Quick Recap -No charge on ATM transaction

The minister announced in her last press conference that all debit card holders can withdraw cash from any bank free of charge. This was announced as the nation was going under lockdown and people could only withdraw cash from their nearest bank or ATM.

01:21 PM

Quick Recap - GST filing deadline extended

In her last press conference, the FM announced that the last date for filing GST returns for March, April and May was extended to June 30. The previous date for filing of GST returns was March 31, 2020. The deadline for composition returns on GST was also extended to June 30.
 

01:12 PM

Stimulus plan could be as large as 2.3 trillion rupees

One of the sources, a senior government official, said the stimulus plan could be as large as 2.3 trillion rupees, but final numbers were still in discussion, Reuters reported.

12:37 PM

In a media presser on March 24, the FM announced the extension of four income-tax related deadlines as well waived two banking-related charges.

12:31 PM

Govt monitoring availability of essential commodities in market, says Ram Vilas Paswan

Union Food Minister Ram Vilas Paswan on Wednesday said the government is monitoring the availability of essential commodities in the market amid nationwide lockdown for next 21 days to check the spread of coronavirus outbreak.

12:27 PM

Relief packages for MSMEs, daily wage workers on cards?

While the daily wage workers are left without jobs and stuck mid-way, FM Sitharaman may announce a relief package for the daily wage workers. Besides, announcements can also be regarding injecting liquidity in the market. The government has been in consultation with the Reserve bank of India, capital market regulator Securities and Exchange Board of India.