Briefly write about the relief packages announced by the Central
government to fight Coronavirus. In 120 to 150 words
Answers
Answer:
In a bid to push for better governance at a time of global pandemic outbreak, in a major policy decision to battle ready the downtrodden, the Union government has announced a Rs 1.7 lakh crore relief package to mitigate the impact of coronavirus as the country enters into the second day of 21-day countrywide lockdown announced by the Prime Minister Narendra Modi on Tuesday.
While making the announcement, the Finance Minister Nirmala Sitharaman also announced an insurance cover worth Rs 50 lakh per person for sanitation workers, ASHA workers, doctors, nurses and paramedics who are on the frontlines of the corona battle.
As per the government announcement for 80 crore poor -- over and above 5 kg of rice or wheat that is already given, another 5 kg per person will be given free through the Public Distribution System. Besides, one kg of preferred and region-specific choice of a pulse will also be given.
“The government will ensure that no person remains without food in this period of lockdown,” Sitharaman said while unveiling features of the Pradhan Mantri Garib Kalyan Scheme.
According to the new policy lay out, the farmers will get the first installment of Rs 2,000 in the first week of April. About 8.69 crore farmers will get immediate benefit out of it.
Under the MNREGA scheme, the wage rate has been increased from Rs 182 to Rs 202, amounting to an increase of Rs 2000 per worker. This will benefit 5 crore people.
For old age pensioners and widows, an additional ex-gratia amount of Rs 1,000 for the next three months available in two installments. It will benefit 3 crore widows and senior citizens.
For women Jan Dhan account holders, a one-time ex-gratia of Rs 500 per month will be given for the next three months. This will benefit 20 crore women.
For the beneficiaries of Women Ujwala Scheme, free cylinders will be given to 8.3 crore BPL families for three months.
Under the Deen Dayal National Livelihood Mission, women self-help groups (SHGs) will be provided collateral-free loans up to Rs 20 lakh from Rs 10 lakh earlier. This will impact 7 crore holders through 63 lakh SHGs.
For the organised sector, the government will pay a provident fund contribution of both the employer and the employee put together at 24% for the next three months. This is for those establishments with up to 100 employees and 90% of them earning less than Rs 15,000 per month.
The EPFO regulation will be amended so that workers can draw up to 75% of the amount for their contingency expenditure. This will benefit 4.8 crore workers.
Also For 3.5 crore construction workers, state governments have been directed to use the welfare fund for building and construction labourers which has about Rs 31,000 crore to help those who are facing economic disruption because of the lockdown.
State governments have also been asked to utilise funds available under the district mineral fund for testing activities, medical screening, providing health attention needed to fight the coronavirus pandemic.
Answer:
The mega Rs 20 lakh crore stimulus package announced on Tuesday by PM Modi includes previously announced measures to save the lockdown-battered economy, and focuses on tax breaks for small businesses as well as incentives for domestic manufacturing. The combined package works out to roughly 10 per cent of the GDP, making it among the most substantial in the world after the financial packages announced by the United States, which is 13 per cent of its GDP, and by Japan, which is over 21 per cent of its GDP.
The Rs 20 lakh crore package includes Rs 1.7 lakh crore package of free foodgrains to poor and cash to poor women and elderly, announced in March, as well as the Reserve Bank's liquidity measures and interest rate cuts. While the March stimulus was 0.8 per cent of GDP, RBI's cut in interest rates and liquidity boosting measures totaled to 3.2 per cent of the GDP (about Rs 6.5 lakh crore).