Government of India announces 1.7 Lakh Crore Relief Package for Fight against COVID-19

Government of India has announced a 1.7 Lakh Crore Relief Package for the poor and frontline workers helping in the fight against the COVID-19 Pandaemic.

With the noticeable increase in Novel COVID-19 cases in the nation day by day, the Government is taking all necessary steps to bring the situation under control and eliminate all the mistakes that other nations have committed.

Several measures have been implemented like Janta Curfew followed by the complete lockdown for 21 days. Along with Section-144 implemented in several states to ensure that we see a drastic fall in the statistics of COVID-19.

While these policies have been implemented, still close to 2000 people have been identified as victims or prone to disease. All the services have been locked down expect a few essential services.

Doctors, Police, Social Activists and Media all are on their forefront in the battle to overcome this situation. These people without even thinking about their loved ones are putting their life in danger each day.

COVID 19 Relief Package announced by Government of India

Looking at the criticality of the situation our honorable Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman has recently announced a relief package to support the poor and needy under Pradhan Mantri Garib Kalyan Yojana by sanctioning an amount of Rs 1.70 Lakh Crore.

The major aim behind this initiative is to make sure that there is proper management of food and other essential resources for the needy people during this time. And to ensure that there is no scarcity.

Honorable State Minister Shri Anurag Singh Thakur (Finance & Corporate Affairs), Shri Atanu Chakraborty, Secretary, (Department of Economic Affairs) and Shri Debashish Panda, Secretary, (Department of Financial Services) all were present during the announcement.

Pradhan Mantri Garib Kalyan Package is going to offer following benefits: —

1. Health and Life Insurance scheme for all health care workers helping overcome COVID-19 in Government Hospitals and Health Care Centers.

• Cleanliness staff, nurses, ward boys, ASHA workers, paramedics, technicians, doctors and specialists and all other health workers will be covered under a Special Insurance Scheme.
• Any health care professional, who during the treatment and identification phase of Covid-19 patients comes across with any accident, would be compensated under this scheme with an amount of Rs 50 lakh.
• All government health and wellness centers, along with Centre and State hospitals will be covered under this scheme. Providing insurance cover to approximately 22 lakh people involved in the services to fight and overcome this pandemic situation.

2. PM Garib Kalyan Ann Yojana

• To ensure that no person in need especially the poor people suffer with starvation due to the lack of food grains during the disruption in next three months. Government of India has come up with this step.
• Approximately two-third of the entire Indian population will be benefitted under this scheme and this service will be provided as an addition without any cost.
• The entitlement of each individual will be doubled during this entitlement period over next three months.

Pulses

• In order to ensure that there is no malnutrition due to lack of proteins, all the above mentioned individuals will be provided pulses according to regional preferences for next three months. i.e. 1 kg per family and that too absolutely free of cost by Government of India.

3. Pradhan Mantri Garib Kalyan Yojana

Benefits offered to the farmers

• Benefiting approximately 8.7 crore farmers of our nation, the first instalment of Rs 2,000 which is due in 2020-21 will be front-loaded and paid in the month of April 2020 under the PM KISAN Yojana.
• Cash transfers Under PM Garib Kalyan Yojana:

Help to Needy Women

• Under this MPJDY scheme, women account holders will receive an ex-gratia of Rs 500 per month for next 3 months. An approximate amount of Rs. 20.40 crores will be distributed under this scheme.
• Under this scheme, free LPG cylinders will be distributed done under this scheme, free of cost for next 3 months, to ensure 8 crore poor families do not face any problems during this pandemic situation.

Benefits to low wage earners in the organised sectors

• In order to prevent disruption in the services of low wage earners who earn less then Rs. 15000 per months in small business with less than 100 workers. The Government has proposed to pay 24% of their monthly wages for next 3 months in their PPF accounts.

Support offered to the senior citizens, Divyangs and Widows

• In order to overcome the difficulties during this pandemic, the Government will be offering Rs. 1000 per month over a period of next three months. As part of the COVID-19 Relief Package, this is expected to benefit approximately 3 crore aged people.

Mahatma Gandhi National Rural Employment Gurantee Act

• With Effect from 1^st April 2020 there would be an increase of Rs. 20 that will be done to the wages of the workers under MNREGA, that will annually provide a benefit of Rs.2000 to the workers and is expected to help approximately 13.62 crore families.

 4. Self-Help groups (SHG’s)

• Under this scheme free collateral lending limit will be doubled i.e. from 10 lakhs to 20 lakhs and will benefit approximately 6.85 crore households that are engaged through 63 lakh SHG’s (Self Help Groups).

5. Other Essential components offered under PM Garib Kalyan package

Organized sector

• During this Period EPFO’s (Employee Provident Fund Organizations) will amend their policies and benefit approximately 4 crore people registered under EPF. By allowing a non-refundable advance of 75% or three month wages whichever is higher.

Building and Other Construction Workers Welfare Fund

• In order to support the building and construction workers i.e. approximately 3.5 core workers, this fund has been created under the central Government act to provide relief to these workers.

District Mineral Fund

• In order to support state government for screening, monitoring, medical testing and to further facilitate all other requirements in context to prevention and spread of COVID-19 pandemic along with treatment of the identified suspects, District Mineral Fund (DMF) can be utilized.

Apart from all these initiatives, the Government is strictly working to get the situation under control as soon as possible. By taking a step forward and learning from the mistakes of the others. Although there will be a huge hit on the economy, but it is certain that once we are able to overcome this pandemic situation, we will be able to quickly pull up the economy as well.