FINANCE MINISTER ANNOUNCEMENT BRIEF OVERVIEW
APPLICABILITY- W.e.f. April 01st, 2020
- Prime Minister Gareeb Kalyan Scheme- 1.7 lakh crore, a financial package.
- Medical Insurance cover of Rs. 50 lakh to all workers work for COVID 19 i.e., Asha workers, doctors, health staff and others.
- PM Gareeb Kalyan Yojana involves cash transfer through direct benefit transfer to the needy people.
- For food related- Under this PM Gareeb Kalyan Ann Yojana, every individual will get 5 kg of wheat/rice free in addition to what they are getting already for 3 months. As well as, one kg of one choice of pulse to each household is to be provided for next 3 months. It can also be provided per month basis.
- Under PM Kisan Scheme, they will receive 2000 per annum to all 8.70 crore farmers. Immediate benefit will arise by giving the first instalment upfront.
- Under MNREGA, wages will get increased amounted to Rs. 2,000 per worker to all daily workers which indirectly benefitted to almost 5 crore families.
- Rs. 1,000 is being provided to all poor senior citizens, widows and divyangs over the next 3 months in 2 instalments.
- Rs. 500 is being benefitted to Women Jan Dhan account holders for next 3 months
- Under Ujjawala Yojana, Free LPG cylinders is being provided free to all those families who falls below poverty line i.e., almost 8.3 crore families.
- Up to 10 lakh collateral-free loans is being provided to 63 lakh self-help groups for women in the country.
- For the organized sector- EPF contribution for both employer and of employee i.e., 12 per cent each shall be paid by Centre only for those establishments who have up to 100 employees out of which 90 per cent shall be paid under 15,000 per month.
- For Construction workers, the Building and Construction Fund has given directions to all states to release those funds.
Hereby it is concluded that our government is making efforts to mitigate the losses during the outbreak. Therefore government has implemented above mentioned tax reliefs to all the affected persons in the period of crisis. Granting relief’s intent is to reach out all those needy or poor people who earn on daily basis and can fight the battle against COVID 19. But at the same time taking care of your physical and mental health is also important. Relax and fight against COVID 19, NeuSource is still here to support their clients in the same manner government taking measures which will reap great results even after this pandemic is over. STAY SAFE AND HEALTHY!!
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CS Ayushi Agrawal
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