Covid-19: Centre to pay employer, employee's PF contribution for 3 months

Coronavirus package Govt to amend Provident Fund regulations to aid EPFO members

Coronavirus package Govt to amend Provident Fund regulations to aid EPFO members

The scheme is to benefit 20 lakh, such workers.

The finance minister also announced more relief under the existing Ujjwala scheme. This would cover 8.7 crore farmers and Rs 16,000 crore would be distributed to them. "With a deep sense of gratitude, I announce that all medical staff, Aasha workers, paramedics, doctors, and nurses, will get this insurance", Sitharaman said. Rs 3,000 crore has been allocated for the same.

Finance Minister Nirmala Sitharaman addressing to the media in New Delhi said that Women Jan Dhan account holders will get Rs 500 per month for the next three months.

Sources told Reuters news agency the government is likely to increase its 2020-21 planned borrowing of 7.8 trillion rupees ($102bn) and it has asked its central bank to directly buy part of these bonds - a move not undertaken by the Reserve Bank of India (RBI) in decades.

Three gas cylinders would be provided during this period. Rs 13,000 crore will be allocated for this.

This benefit is for establishments that have up to 100 employees and 90 per cent of whom are earning less than 15,000 a month.

The Centre will also contribute 24 per cent towards EPF for firms with more than 100 employees for the next three month.

This would prevent disruption in their employment. It is expected to benefit eight crore poor families.

The fund will be available though the Prime Minister Garib Kalyan Scheme. Around 8.69 crore farmers will benefit immediately through this, she said.

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Each one of them would be provided double of their current entitlement over next three months.

GOI will bear entire expenditure of Rs 40,000 crores spent for this goal. Besides, one kg of pulse for each one household will also be given.

But some economists said the plan may not be enough to support the country, and the lockdown could cost India dearly in terms of economic growth.

GOI will be spending Rs.5,000 crores for this objective.

The wages of MGNREGA workers has been increased from Rs. 182 to ₹202 per day.

Approximately, Rs 5,600 Crores will be spent for this goal.

Sitharaman also announced that the government amend the Provident Fund (PF) schemes regulation to allow withdrawal of non-refundable advance of up to 75 per cent of the amount or three months' wages, whichever is lower. While the wage hike works to nearly 11 per cent, Sitharaman said it would benefit approximately 13.62 crore families and the government would spend around Rs 5,600 crore for this goal.

Eighty crore poor people will get 5 kg rice or wheat for three months for free.

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