FM’s Package: What’s in It for Construction Workers, Daily Wagers?
Finance Minister Nirmala Sitharaman on Thursday announced a financial aid package of Rs 1.7 lakh crore to help India’s poorest and most vulnerable families cope with the economic fallout of the coronavirus crisis.
Given that workers in the unorganised or informal sector are among the worst affected by the countrywide lockdown, questions have been raised about the measures the Modi government will take to address their woes. As per the International Labour Organization, unorganised labour accounts for over 80 percent of the Indian economy.
Here are the steps that the finance minister announced specifically for the workers of the unorganised sector, construction labourers, self-help groups and farmers.
States to be directed to utilise the Rs 31,000 crore welfare fund for construction workers; estimated to benefit 35 million
Collateral-free loan doubled to Rs 20 lakh for 6.3 million women self-help groups (SHGs), a move estimated to impact 7 crore households according to the finance minister
Ex-gratia amount of Rs 500 per month for the next three months for the 20 crore women who are Jan Dhan account holders
Wages under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) increased from Rs 182 to Rs 202 per day; to benefit 5 crore families
8.69 crore farmers will receive immediate relief through direct benefit cash transfers. An instalment of Rs 2,000 each will be transferred in the first week of April under the existing PM Kisan Yojana