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Pradhan Mantri Garib Kalyan Yojana (PMGKY) - Announced By Finance Minister Today (26-March-2020)

Pradhan Mantri Garib Kalyan Yojana (PMGKY): All you need to know
Due to COVID-19, lockdown for 21 days has been announced by the Government of India. 

On the second day of lockdown to combat the economic impact on the poor and needy, PM Narendra Modi led government on 26 March, 2020 announced ₹1.7 lakh crore Pradhan Mantri Garib Kalyan Yojana (PMGKY). Do you know about PMGKY? Also, let us have a look at the major highlights announced by the FM Nirmala Sitharaman.


As per recent corona relief, ‘Garib Kalyan Package’ announced by the FM Nirmala Sitharaman:

 - Provision to open the bank branches.

- For Building and Construction workers: Central government has given orders to the state government for building and construction workers to use funds of ₹31,000 crores to provide relief to them.

- PMGKY will include the transfers of cash to the poor and migrants.

- Under the PMGKY (food scheme) around 80 crore people will be benefited. Additionally, everyone will get 5 kg of wheat/rice for free of whatever they are already getting. The government will also provide 1 kg of a pulse of their choice to each household for the next three months. In fact, people can take it in two instalments.

- Medical insurance cover of ₹50 lakh per healthcare worker.

- Through the PM-KISAN scheme, farmers are receiving ₹6000 every year. The government now will give first instalment upfront. It is estimated that about 8.69 crore farmers are expected to benefit from this immediately.



What is PM-Kisan Samman Nidhi Yojana?

- Government expect that wage increase through MNREGA will benefit 5 crore families. It will an amount into an additional income of ₹2,000 per worker.

- In total eight parts namely farmers, MNREGA, widows, poor pensioners, divyang, women under Jan Dhan Yojana, women and households under Ujjwala scheme, self-help groups for women including those the livelihood mission, organised sector workers under EPFO, construction workers and district mineral funds will offer cash transfer through Direct Benefit Transfer (DBT).

- For the next three months, Divyangs, poor senior citizens, widows will get ₹1000.

- The government has doubled collateral-free loans to ₹20 lakh to 63 lakh SHGs that help 7 crore households.

- Population below the poverty line that is about 8.3 crore families will get free LPG cylinders for three months.

- For the next three months, the government of India will pay the EPF contribution, both to the employee and employer (12% each). Mainly, this is for the establishment that has up to 100 employees, with 90% of them earning less than 15,000.

- For the organised sector, EPFO Scheme's regulations will be amended to allow the non-refundable advance of 75% of the amount standing to the credit of the worker or three month's wages, whichever is lower. It is estimated that this will benefit 4.8 crores workers who are registered with EPF and in a position to withdraw money.

- Jan Dhan account holders that are around 20 crore woman will be given ex-gratia amount of ₹500 per month for the next three months, to run the affairs of their households.

At last, let us tell you that the scheme comes into effect immediately. People will start getting benefits of the scheme from 1 April, 2020.

So, these are the ‘Garib Kalyan Packages’ announced on the second day of the lockdown by the Finance Minister Nirmala Sitharaman for the poor and needy, to benefit daily wage workers to fight against economic distress.

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1 Comments

  1. How can I get the link.for apply this scheme plz reply

    ReplyDelete