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Finance Minister says India will soon announce new relief measures and economic incentives to help poor in lockdown

The government has announced a package of 1.75 lakhs to help the poor people who have been hit the hardest by the COVID 19 lockdown parameters. The frontline medical personnel have been given the protection of insurance cover.

The lockdown process for 21 days had begun on March 25. The people will be given free cooking gas and cereals to eat without any money to be paid for the next 3 months. the number estimated for these people is about 800 million.

A much higher wage is included in the Pradhan Mantri Garib Kalyan Yojana. Under this lies the Mahatma Gandhi National Rural Employment Act. this offers the 30 million poor senior citizens, widows and physically challenged people with a monthly payment of Rs 1000.

It has also taken into consideration, the healthcare workers and provides them with an
insurance cover of 50 lakhs that have been fighting against the COVID pandemic since the outbreak. For the construction workers, the states have been asked to make use of building and construction workers’ welfare funds to provide relief to these workers when the pandemic has had them sitting at home with no money to feed on.

The states have also been asked by the government to provide a monthly installment of
2000 rupees to the farmers of this country to give them support as they are the backbone of this country. This action has been scheduled to load in April under the Pradhan Mantri Kisan Yojanato reach 87 million farmers of the country. The plan will soon be released.

“We will think about others and will slowly address id there is something more to address to,” said Finance minister Sitharaman when the media asked her on behalf of the public what effective plan has been created by the government to tackle the underlying situation of the economy. She said that many companies have to lay off employees and cut their salaries and stop production because the economy is on its knees.

“It is a very well defined package, reinforcing government’s intention that no one should be deprive of the basic facilities in today’s stressed times” said the chairman of state bank of India Rajnish Kumar.

“ We are hoping for a much-calibrated response from the government as the results of the pandemic unfolds,” he said.
Under the package the poor people will be provided with 5 kg of wheat or rice and 1 kg
pulses free every month for 3 months, the women will be getting rupees 500 every month for three months who hold Jan Dhan’s account.

The MNREGA wages will rise from 185 to 201 to help the people cope with the situation to help the most vulnerable sections of the society.
“These critical and large scale interventions are the need of the hour”.
These timely measures will go a long way to provide relief to the farmers self-help groups
omen daily wage workers and other society section in these hard times.
The government has announced to use its provident fund to provide financial aid to the
people earning less than 15,000 a month and companies with less than 100 employees as they are at the risk of losing their jobs. This amounts to 24% of the basic pay 12% from the employee and 12% from the employer. This will be paid by the government for the next 3 months.

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