Here’s How India Prepares To Tackle Post Lockdown Economic Situation

The government is trying to ensure that the RS 1.7-lakh-crore stimulus announced last month is implemented speedily across the country to mitigate the problems of the poor and needy post lockdown.

**EDS: TWITTER VIDEO GRAB POSTED BY @BJP4India ON THURSDAY, APRIL 2, 2020** New Delhi: Prime Minister Narendra Modi interacts with all chief ministers to discuss ways to check the spread of coronavirus through a video conference, in New Delhi. (PTI Photo)(PTI02-04-2020_000183B)

New Delhi: In a 21-day nationwide lockdown, the country has almost come to a standstill with economic activity taking a  hit and unemployment rate steadily escalating due to the global outbreak of Covid 19. But the government is trying to ensure that the Rs 1.7-lakh-crore stimulus announced last month is implemented speedily across the country to mitigate the problems of the poor and needy. The government is proposing a phased unwinding of the lockdown that has  crippled the economy. What’s in the hands of Aam aadmi? The government has started transferring Rs 500 to 20.4 crore women Jan Dhan account holders for three months and free grains through the PDS. This has provided some cash to the poor who can buy essential goods to survive during this tough time. It is providing 5 kg of wheat or rice and 1 kg of pulses free every month for the next three months. Even MGNREGA wages will rise to Rs 202 a day from Rs 182 to benefit 136.2 million families. The government will provide free cooking gas cylinders to poorer citizens for three months, otherwise beneficiaries of the scheme get LPG at cheaper rates. PM has asked to find innovative solutions to keep the supplies of essential commodities unaffected and ensure that farmers get a fair price for their produce. He has suggested truck aggregrators, similar to cab services like Uber and Ola, for connecting farmers with mandis. It has been asked states can use the Building and Construction Workers Welfare Fund to provide relief to construction workers. In this regard, the first installment of Rs 2,000 under the Pradhan Mantri Kisan Yojana will be frontloaded to touch 87 million farmers in April. The Pradhan Mantri Garib Kalyan Yojana offers  Rs 1,000 ex-gratia payment to nearly 30 million poor senior citizens, widows and disabled as well as insurance coverage of as much as Rs 50 lakh each for about 2 million healthcare workers battling the disease. What’s planned after the lockdown? The PM has emphasised that steps are to be taken to make sure PDS centres are not crowded and actions taken against blackmarketeers to contain any unusual spike in prices of essentials. Another important aspect is to publicize Aarogya Setu app. The app has been designed to inform its users about risks, best practices and relevant advisories pertaining to the Covid 19 pandemic. The app has already surpassed five million downloads in the first three days since its launch. What’s for people on the front line? The government has announced Rs 50-lakh insurance cover for all corona warriors of their contribution to the nation’s fight against the virus. The insurance will cover doctors, paramedics, and other medical staff. Besides, social distancing norms need to be followed even after the lockdown gets over. What’s in store for the organised sector? The government will pay the entire provident fund contribution of those who earn less than Rs 15,000 per month in companies having less than 100 workers as they are at risk of losing their jobs. That amounts to 24 per cent of basic pay-12 per cent from the employee and 12 per cent from the employer.  This will help in tackling any problems related to the wage costs.  Apart from this  Employees’ Provident Fund Regulations will be tweaked to include the Covid 19 outbreak as grounds for allowing a non-refundable advance of 75 per cent of the corpus or three months of wages, whichever is lower. What’s given to exporters? The PM has suggested that ministers turn this adversity into an opportunity thereby boosting  ‘Make in India’ and bringing down reliance on imports. “Highlighting the impact on India’s exports, he (Modi) asked ministers to submit actionable suggestions on boosting manufacturing and exports and ensure that new sectors and countries are added in India’s export net," according to the statement by PM. (With inputs from agencies)