Today's Important announcement by Indian's PM
shri Narendra Modi ji :-
As per current scenario we all that INDIA is dealing with a very huge problem that's
why our honorable Prime Minister Shri Narendra Modi ji all states of India has been
lock-down for 21 day as precaution which is very good initiative taken by our government
and we are thankful for this according to this lock-down only shops and services of
essential things will be continued rest all are shut-down and people are asked to stay
in their homes and asked not to come out without any major problem.
the corona battle.
why our honorable Prime Minister Shri Narendra Modi ji all states of India has been
lock-down for 21 day as precaution which is very good initiative taken by our government
and we are thankful for this according to this lock-down only shops and services of
essential things will be continued rest all are shut-down and people are asked to stay
in their homes and asked not to come out without any major problem.
FM Nirmala Sitharaman announces Rs 1.7 lakh crore relief package for poor
Today Finance minister Nirmala Sitharaman has announced a slew of measures to deal
with the economic distress caused due to the coronavirus pandemic and the subsequent
lockdown announced to deal with the situation.
with the economic distress caused due to the coronavirus pandemic and the subsequent
lockdown announced to deal with the situation.
The finance minister had already announced some measures on Tuesday that included
extension of tax deadlines, easing minimum balance norms for savings accounts, and
increasing the threshold of insolvency filing to Rs one crore from Rs one lakh.
extension of tax deadlines, easing minimum balance norms for savings accounts, and
increasing the threshold of insolvency filing to Rs one crore from Rs one lakh.
Here's what the FM said:
- PM Garib Kalyan Scheme will entail Rs 1.7 lakh crore.
- It will include both cash transfer and food security.
- Provide insurance cover worth Rs 50 lakh for sanitation workers, ASHA workers,
the corona battle.
4. Over and above 5kg of rice/wheat that is already given, another 5 kg per person
will be given free to around 80 crore people through PDS. Besides, one kg of
preferred and region specific choice of pulse will also be given.
Direct cash transfer through DBT
Farmers: First instalment of Rs 2,000 of PM Kisan will be given in first week of
April. 8.69 cr farmers will get immediate benefit out of it.
MNREGA: Increase in wage rate from Rs 182 to Rs 202 amounting to increase of
Rs 2000 per worker leading to benefitting 5 crore people.
Old age/widows: An ex-gratia amount of Rs 1,000 for next three months available
in two instalments. It will benefit 3 crore widows and senior citizens.
Women Jan Dhan account holders: Ex gratia of Rs 500 per month for next three
months. This will benefit 20 crore women.
Women Ujjawala scheme beneficiaries: For three months, free cylinders. Will
benefit 8.3 crore BPL families.
Women Self Help Groups: Under the Deen Dayal National Livelihood Mission,
collateral free loan will be given up to Rs 20 lakh from Rs 10 lakh earlier. Impact
on 7 crore holders through 63 lakh SHGs.
Organised sector: Government of India will pay the EPF contribution both of the
employer and the employee put together 24% for next three months. This is for
those establishments with up to 100 employees, 90% of them earning less than
Rs 15,000.
For the organised sector, EPFO regulation will be amended so that workers can
draw up to 75% for their contingency expenditure non-refundable advance or
three months of wages in advance whichever is less. This will benefit 4.8 cr
workers.
Construction workers: State government have been directed to use the welfare
fund for building & construction labourers which has around Rs 31,000 crore to
help those who are facing economic disruption because of the lockdown.
Utilise the funds available under the district mineral fund for testing activities,
Organised sector: Government of India will pay the EPF contribution both of the
employer and the employee put together 24% for next three months. This is for
those establishments with up to 100 employees, 90% of them earning less than
Rs 15,000.
For the organised sector, EPFO regulation will be amended so that workers can
draw up to 75% for their contingency expenditure non-refundable advance or
three months of wages in advance whichever is less. This will benefit 4.8 cr
workers.
Construction workers: State government have been directed to use the welfare
fund for building & construction labourers which has around Rs 31,000 crore to
help those who are facing economic disruption because of the lockdown.
Utilise the funds available under the district mineral fund for testing activities,
medical screening, providing health attention needed to fight the coronavirus
pandemic.
pandemic.
It is expected that another relief package for the industry will come up soon.
The Confederation of Indian Industry (CII) lobby group, had sought a stimulus of
about 1% of the GDP or Rs 2 lakh crore, has sought a three-month moratorium on all
loans and said all repayment obligations should be suspended for this period.
The Confederation of Indian Industry (CII) lobby group, had sought a stimulus of
about 1% of the GDP or Rs 2 lakh crore, has sought a three-month moratorium on all
loans and said all repayment obligations should be suspended for this period.
The Prime Minister had announced an Economic Task Force to be chaired by the finance
minister.
minister.
The 21-day lockdown announced by Prime Minister Narendra Modi will affect the revenue
stream of companies and hit hard their bottom lines. Various rating agencies have
revised downwards their Q4 economic growth projections and also the growth estimates
for next fiscal year FY21.
stream of companies and hit hard their bottom lines. Various rating agencies have
revised downwards their Q4 economic growth projections and also the growth estimates
for next fiscal year FY21.
On Wednesday, Union minister Prakash Javadekar had said that the Centre is supporting
various state governments in relief for the poor.
various state governments in relief for the poor.
The measures come at a time when the US Senate has passed the $2 trillion aid package
for the US economy that has been hit hard by the coronavirus pandemic.
for the US economy that has been hit hard by the coronavirus pandemic.
India will have enough food grain stockpiles to feed its poor for at least a year-and-a-
half as the reserves are likely to further balloon after record harvests in the South
Asian nation that has been locked down to check the spread of the covid-19 (coronavirus).
half as the reserves are likely to further balloon after record harvests in the South
Asian nation that has been locked down to check the spread of the covid-19 (coronavirus).
There will be no food shortage in the second-most populous country, D.V. Prasad,
chairman of state-run Food Corporation of India (FCI), a government agency at the
heart of the world’s largest public food distribution program, said in an interview.
chairman of state-run Food Corporation of India (FCI), a government agency at the
heart of the world’s largest public food distribution program, said in an interview.
It will have 100 million tons in warehouses across India by the end of April, compared
with an annual requirement of 50 million to 60 million tons under various welfare
programs for the poor. India is likely to produce a record 292 million tons of food grains
in 2019-20.
with an annual requirement of 50 million to 60 million tons under various welfare
programs for the poor. India is likely to produce a record 292 million tons of food grains
in 2019-20.
“There is absolutely no need to worry as far as the availability of wheat and rice is
concerned in any part of the country,” Prasad said. Still, fair price shops in many states
don’t have the capacity to hold stocks equal to several months of their needs, he said.
Food minister Ram Vilas Paswan said last week that the beneficiaries of the Public
Distribution System can buy six months of their quota of subsidized grain immediately.
concerned in any part of the country,” Prasad said. Still, fair price shops in many states
don’t have the capacity to hold stocks equal to several months of their needs, he said.
Food minister Ram Vilas Paswan said last week that the beneficiaries of the Public
Distribution System can buy six months of their quota of subsidized grain immediately.
India, like other countries, is trying to curb the spread of the deadly virus by locking
down provinces, stopping trains, flights and bus services, while ensuring supplies of
staple commodities. America’s top food firms are rushing to meet a spike in demand as
panic buying sets in, while sales of items such as cereals and pasta have surged in Russia.
In Australia, hoarders were shamed as the nation’s biggest supermarket chain tightened
buying limits.
down provinces, stopping trains, flights and bus services, while ensuring supplies of
staple commodities. America’s top food firms are rushing to meet a spike in demand as
panic buying sets in, while sales of items such as cereals and pasta have surged in Russia.
In Australia, hoarders were shamed as the nation’s biggest supermarket chain tightened
buying limits.
There are concerns that consumers in India may rush to hoard essential commodities
and prices may surge as the country of 1.3 billion people locked down cities to break the
chain of transmission of the virus. Authorities have sealed many districts, while all
passenger and commuter trains are suspended until at least March 31.
and prices may surge as the country of 1.3 billion people locked down cities to break the
chain of transmission of the virus. Authorities have sealed many districts, while all
passenger and commuter trains are suspended until at least March 31.
The states may need to buy 30 million tons of wheat and rice from the federal
government to meet their requirement for six months, Prasad said. Reserves maintained
by the federal government may climb further after the arrival of the new wheat crop by
April from about 64 million tons at present, he added.
government to meet their requirement for six months, Prasad said. Reserves maintained
by the federal government may climb further after the arrival of the new wheat crop by
April from about 64 million tons at present, he added.
State governments can draw food grains for three months from the Food Corporation
on credit, Finance Minister Nirmala Sitharaman said via Twitter Monday. This will ensure
that the states do not face any cash constraint in distributing food to those in need.
on credit, Finance Minister Nirmala Sitharaman said via Twitter Monday. This will ensure
that the states do not face any cash constraint in distributing food to those in need.
The country’s food grain output is set to climb in 2019-20 from 285.2 million a year
earlier, according to the farm ministry. The rice harvest is seen at an all-time high of
117.47 million tons, whole wheat production may rise to an historic high of 106.21 million
tons.
earlier, according to the farm ministry. The rice harvest is seen at an all-time high of
117.47 million tons, whole wheat production may rise to an historic high of 106.21 million
tons.
China is also trying to ensure food supplies. The country has raised the government
purchase price of Indica rice to encourage planting of two crops a year on the same
piece of land to boost production in southern growing areas.
purchase price of Indica rice to encourage planting of two crops a year on the same
piece of land to boost production in southern growing areas.
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