PM Garib Kalyan Yojana Features, Benefits

PM Garib Kalyan Yojana Overview

Pradhan Mantri Garib Kalyan Yojana (PMGKY) was introduced and became successful in 2016 by India’s Government. This encourages people to deposit money that has not been taxed.

Fifty percent of the untaxed amount must be charged under the system. From December 2016 to March 2017, the scheme was initially valid. It was later extended, however, until June 2020.

PM Garib Kalyan Yojana’s Main Features

• On 25 March 2020, the Minister of Finance of the Indian Union, Nirmala Sitharaman, announced an economic relief package estimated at Rs. 1.70,000 Crore for the low, migrant workers and other parts of the country who need aid to survive the country’s deadly situation.
• The PM Garib Kalyan Package is valid for the next three months.
• The scheme is expected to cover about 80 crores of the country’s rural population, comprising around two-thirds of its population.
• In addition to 5 kg, which had already been allocated, the Central Government claimed to distribute 5 kg of rice or wheat per person.
• The aid package’s food and cash components are divided into eight parts of society, including pensioners, women, and especially eligible citizens.
• The state has also claimed to supply 1 kg of pulses per family to ensure sufficient protein availability.

 

Rural-sector Benefits

• Nearly 8.3 crore families below the poverty line will receive free cooking gas cylinders.
• A one-time payment of Rs. 1000 will be made to three crore widows, pensioners, and individuals in the Divyang category (exceptionally qualified citizens) of the country.

 

Profit for Rural Women

• Under the DeenDayal Yojana, the women’s self-help groups, who were previously eligible for similar loans of up to Rs. 10 Lakh, will receive collateral-free loans of up to Rs. 20 Lakh.
• an-Dhan Yojana will earn an ex-gratia payment of Rs.500 per month for the next three months to support a total of over 20 crore female account holders.

 

Medical Staff Compensation

• Medical insurance of Rs.50 Lakh will be provided to frontline medical workers (such as physicians, nurses, and their support medical staff) who are working to avoid the country’s medical crisis.
• It should be noted that the scheme will include both government health centres, wellness centres, and hospitals (both central and state)
• Around 22 lakh health staff will be provided with insurance cover to tackle this pandemic.

 

Farmers’ Advantages

Around 8.9 crore farmers will benefit in terms of direct cash transfers under the scheme. In every first week of April, an instalment of Rs. 2000 will be sent to these households.

 

MGNREGA Worker Opportunities

The government has agreed to raise MGNREGA staff’s salaries on average by Rs.2000 per employee, which would ultimately benefit five crores, Indian families.

 

The Coordinated Sector benefits

• The Union Finance Minister also declared an increase in provisional funds and withdrawal limits for the organized sector.
• The EPF contribution of companies with less than 100 workers, both employees, and employers, of which 90% receive less than Rs.15,000 per month, will be compensated by the government for the next three months.

 

Benefits for building and construction workers

The Central Government has given an Rs.31, 000 Crore fund to assist approximately 3.5 Crore registered employees to shield them from economic disruption.

 

The Wage Workers’ compensation

Staff receiving salaries below Rs. 15 thousand per month in companies with less than 100 employees would receive 24% of their monthly salaries in their PF accounts for the next three months.

Stuff to Think About

• All cash incentives offered under the program will be paid directly into the beneficiaries’ bank accounts.
• The Minister of Finance has instructed the media to notify the government of those beneficiaries who do not have a bank account to extend help under the conditions stated.