PM Garib Kalyan Yojana (PMGKY)
Within 36 hours after the announcement of the national lockdown, Union Finance Minister Smt Nirmala Sitharaman announced a package of Rs 1.70 lakh crore under the PM Garib Kalyan Yojana (PMGKY). She stated that the Finance Ministry created this package for the front-line COVID-19 soldiers and the general public’s well-being throughout this epidemic.
The government would offer Rs 50 lakh in medical insurance coverage per person to almost 20 lakh front-line COVID-19 soldiers, including Asha workers, sanitation workers, nurses, physicians, and others.
The financial package advantages are separated into two categories:
- Concerns about food security
- DBT stands for Direct Benefit Transfer.
The objective of the PM Garib Kalyan Yojana (PMGKY)
The PM Garib Kalyan Yojana (PMGKY) was initially established to recover black money from tax evaders by shielding them from government prosecution. However, the government created an opportunity for tax evaders to declare unexplained income with a 49.9 per cent tax rate under the PM Garib Kalyan Yojana plan. The money would be used to reduce income disparity in the country, according to the idea.
During the COVID-19 epidemic, the government provided aid packages with the programme extension until 2020. The extension’s goal was to save low-wage employees from losing their jobs and help small businesses (with up to 100 employees). The central government supplied whole employee EPF payments (12 per cent of total salaries) and employers’ EPF & EPS contributions (12 per cent of wages) under the extension, totalling 24 per cent of monthly wages for three months. In addition, the government provided assistance packages to assist the needy through different initiatives. For example, Ms Nirmala Sitharaman, Union Finance & Corporate Affairs Minister, released a relief package totalling Rs. 1.70 lakh crore under the PMGKY.
The project was supposed to last three months. However, it was extended until November 2020.
COVID-19 Insurance Plan for Healthcare Workers
The government has covered health professionals who treat COVID-19 patients under this plan. In the event of the accidental death of these healthcare workers, their families would be reimbursed Rs 50 lakh. Accidental death includes an end as a result of COVID or an accident while doing COVID-related duties. The Ministry of Health and Family Welfare is responsible for the scheme’s premium.
This scheme includes public healthcare providers such as community health workers, private hospital staff, and retired/volunteers/local urban bodies/contracted/daily wage/ad-hoc/outsourced staff requisitioned by the states/central hospitals/autonomous hospitals of the Central/States/UTs, AIIMS and INIs/hospital of the Central Ministries.
Employees such as ‘Safai Karamcharis,’ ward boys, nurses, ASHA workers, paramedics, technicians, physicians and specialists, and other health workers were included.
The plan provided coverage for 22 lakh health professionals combating the epidemic.
The outcome of the Scheme
Over Rs. 68,820 crores in cash or help was distributed to 42 crore impoverished individuals across the country as part of the PM Garib Kalyan Package.
Rs. 30,952 crores was transferred to women PMJDY account holders; Rs. 2,814.5 crore was transferred to 2.81 crores elderly, widows, and disabled people; Rs. 17,891 crore was paid to farmers as an advance instalment under the PM Kisan Yojana; and Rs. 4,987 crore was distributed to support 1.82 crore construction and building workers.
Aside from that, Rs. 2,476 crore was contributed to the EPF accounts of 0.43 crore workers and Rs. 9,700 crore was sent to PM Ujjwala Yojana recipients.
Conclusion of PM Garib Kalyan Yojana (PMGKY)
The PM Garib Kalyan Yojana (PMGKY) is making rapid progress toward its goal of eradicating poverty in the country. The plan has not only resulted in the repatriation of black money from tax evaders, but it has also assisted the government in dealing with the problems of pandemic-related economic disruptions. PM Garib Kalyan Yojana (PMGKY) developed a strategy for assisting poor people during COVID, assisting the country in preventing further deterioration of the rich-poor income disparity.
The government has assisted poor individuals to maintain their everyday lives despite their incapacity to work through numerous programmes and packages under the PM Garib Kalyan Yojana (PMGKY).
FAQ’s – PM Garib Kalyan Yojana (PMGKY)
✅ Who qualifies for the PM Garib Kalyan Yojana (PMGKY)?
Employers with up to 100 workers and 90 percent of employees earning less than 15,000 per month are eligible.
✅ When was the PM Garib Kalyan Yojana (PMGKY) introduced?
The Government of India implemented the Pradhan Mantri Garib Kalyan Yojana (PMGKY) in 2016. It enables people to deposit money that has not been taxed. The system requires that half of the untaxed sum be paid. From December 2016 through March 2017, the plan was in effect.
✅ What is the PM Garib Kalyan Yojana (PMGKY) all about?
Opened the door for tax evaders to reveal unexplained money at a 49.9% tax rate. The money would be used to reduce income disparity in the country, according to the idea. The government plans to extend the initiative through 2020.