Current Affairs

FM Nirmala Sitharaman announces Garib Kalyan Yojana, Health Workers to get Rs. 50 Lakh Insurance

FM Nirmala Sitharaman announces Garib Kalyan Yojana, Health Workers to get Rs. 50 Lakh Insurance

Finance Minister Nirmala Sitharaman addressed media amid Coronavirus lockdown in the entire country. She has announced a relief package for poor and needy people in the country during Coronavirus pandemic. It’s direct impact is visible on the Indian economy. In the meantime, the government will announce a relief package to save the economy. 

Earlier, the Finance Minister said that the government is working on an economic package and may be announced soon. She said that this work will be done on priority basis amid lockdown in the country.

Major Highlights

Finance Minister Nirmala Sitharaman announced ‘Garib Kalyan Package’. Ministry of Finance has also announced a special insurance scheme for medical service providers. Govt announced Rs. 50 lakh per person insurance for all employees working in the medical field for next three months.

FM Nirmala Sitharaman announced that the government of India is providing a package of Rs. 1.70 Lakh crore to the poor, women, Asha Workers and needy people. 

An insurance cover to medical service providers will benefit more than 20 Lakh employees across the country.

Finance Minister announced that under the Pradhan Mantri Garib Kalyan Anna Yojana, 80 crore poor people will be given 5 kg Wheat or 5 kg  Rice for 3 months. Apart from this, one kg of pulses will also be given.

She announced that the poor people affected by the lockdown will be given immediate help.

Free Gas Cylinder to be given to all those BPL families who have been availing benefits of Pradhanmantri Ujjawala Yojana for next three months.

An installment of Rs 2000 will be deposited in the farmers’ account in the first week of April, 8.69 crore farmers will get the benefit.

What is relief package?

The government provides direct and indirect assistance to the economy and to help the country to recover from the financial crisis. This financial assistance provided by the government is called relief package. During this time, apart from giving tax exemption, the government also takes steps like cutting interest rates. It increases the production of companies and also creates employment opportunities. This increases the cash flow in the market. It makes a positive impact on the economy. This package has been used by many countries to get out of the situation of economic crisis.

 


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