Lawstreet Journal

Economic Benefits Announced By GOI To Fight COVID-19

Lawstreet Journal 31 Mar 2020 7:33pm

Image courtesy: Lawstreet Journal Executive Economic Benefits Announced By GOI To Fight COVID-19

Nirmala Sitharaman, Minister of Finance and Corporate Affairs of India, briefed the media in the afternoon of March 26, 2020, on day two of lockdown to help the poor of the country. Recently, many states have announced financial aid for the poor including Kerala which had announced an economic package to the tune of Rs. 20,000 crores. 

Key takeaways from the briefing are as follows:

  1. A financial package of Rs.1,70,000 crores were announced in the form of Cash transfers via Direct Benefit Transfer - DBT and food security related benefits;
  2. Primary beneficiaries include the Poor migrant workers, disadvantaged sections, Asha workers, sanitation workers and paramedics nurses (whom she referred to as “Gods In White Costumes”) and for such people involved in service for humanity a medical insurance cover of Rs. 50 lakh per person wasannounced;
  3. The scheme is named as Pradhan Mantri Garib Kalyan scheme and has two components namely,

 

A:  PM Garib Kalyan Anna Yojana (Food Related): which will provide 5 kg of additional rice (or wheat) per person for next 3 months. As of now 5 kg of rice (or wheat) is given per month to 80 crore poor people. Besides, 1 kg of pulse (regional) will be given additionally per household over and above the normally given (it can be taken over the period of 3 months in 2 installments);

B: DBT (Monetary help): Following specific announcements under various heads have been announced to combat COVID-19,

 

  1. Farmer: Under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), they will be given Rs. 2,000 immediately (in the first month of April most… Continue Reading...

    Tagged: Corona Updates  
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