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Mar 28, 2020

[CA/Econ] Pradhan Mantri Garib Kalyan Yojana


The disaster of COVID-19 has affected the lives globally from personal to professional, from rich to poor; all are under the black cloud of virus. Every national government is trying hard to get over this situation. Indian government is also one of them. Everyday new relief measures are being launched by our government to tackle this situation effectively and efficiently. On March 26, 2020, our Union Finance & Corporate Affairs Minister Mrs. Nirmala Sitharaman has publicized the Rs. 1.70 Lakh Crore relief package under Pradhan Mantri Garib Kalyan Yojana (PMGKY), during the Press Conference in New Delhi. The motive behind this is to aid and support the Poverty-stricken people to fight a battle against Corona Virus.

Highlights of PMGKY:-
Ø Insurance Cover of Rs 50 Lakh per healthcare worker workers fighting COVID-19 in Govt Hospitals& health centres
Ø Scheme ensures non-availability of foodgrains due to disruption in the next three months and will cover 80 crore poor individuals.Each one of them would be provided double of their current entitlement over the next three months. This additionality would be free of cost.
Ø Farmers to get first instalment of Rs 2000 under PM KISAN in April 2020
Ø Women Jan Dhan account holders to get Rs 500 per month for next 3  months
Ø Increase in MNREGA wage to Rs 202 a day from Rs 182 to benefit 13.62 crore families
Ø Ex-gratia of Rs 1,000 to 3 crore poor senior citizen, poor widows and poor disabled
Ø Building and Construction Workers Welfare Fund used for Construction Workers
Ø Gas cylinders would be provided free of cost to poor families for the next three months. It will cost Rs 19,200 crore.
Ø Government will pay the24% of EPF (Employees’ Provident Fund) contribution for both employer and employee for next three months, in establishments where upto 100 people are employed, and 90% of who earn less than Rs 15,000 a month.

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