Within 3 days of 21day Lockdown, Government of India has announced Rs 1.7 lakhs crore relief package for the people hit the hardest due to this under its scheme called “Pradhan Mantri Garib Kalyan Yojana” (PMGKY),
Below is the gist of measures/relief provided by Indian Government:-
i) About 800 million people will get free cereals and cooking gas apart from cash through direct transfers for three months.
ii) Increase in Mahatma Gandhi National Rural Employment Act (MGNREGA) wages to Rs.202 per day from Rs.182/-.
iii) Rs 1,000 ex-gratia payment to nearly 30 million poor senior citizens,
widows and disabled.
iv) Credit of Rs 500/- to 20.39 crore women Jan Dhan account holders for the next three months, starting April 2020.
v) Doubling of collateral free loans to women under Self Help Groups (SHGs) from Rs 10 lakhs to Rs 20 lakhs. This will help around 63 lakhs SHGs covering 7 crore families across India.
vi) Insurance coverage of as much as Rs 50 lakhs each for about 2 million
healthcare workers battling the disease.
vii) Relief to construction workers in form of some funding to the Building and Construction Workers Welfare Fund by each state.
viii) Installment of Rs 2,000 under the Pradhan Mantri Kisan Yojana will be frontloaded to reach 87 million farmers in April.
Further, our government has decided to contribute towards Employer Provident
Fund Organisation for three months, in respect of contribution of both employer and employee (12% each).This is applicable to the establishment with upto 100 workers and 90% of employees are having salary less than Rs.15000.
Additionally, there is a change in EPFO rules with respect to withdrawals. Now workers under EPFO can withdraw upto 75% of their non refundable advance or3 months wages, whichever is lower. This will benefit around 4.8 crore employees in the country.
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