World Bank Announces $1 Billion Social Protection Package To Support India's Fight Against Covid-19

The current package is in addition to the previous package of $1 billion allocated to India for the Covid-19 emergency response and health systems.

The current package is in addition to the previous package of $1 billion. (Image: PTI)

New Delhi: As the global economies are battered by the Covid-19 induced lockdown and struggling to revive from the impact, World Bank has announced d $1 billion social protection package for India on Friday. The package is aimed at scaling up cash transfers and food benefits and boost social assistance to India’s most vulnerable households, the global organisation said. The current package is in addition to the previous package of $1 billion allocated to India for Covid-19 emergency response and health systems. "The World Bank's billion-dollar support for social protection will help India leverage it's PM Garib Kalyan Yojana," informed World Bank Country Director (India) Junaid Kamal Ahmad. According to the bank, the new package will be given in two tranches – an immediate allocation of $750 million for fiscal year 2020 and a $250 million second tranche that will be given for the fiscal year 2021. India had reported 3,967 new cases and 100 new deaths reported in the last 24 hours taking the tally of Coid-19 cases at 81970, the Union Health Ministry said on Friday. And two states, Goa and Manipur, which were declared Covid-19 free, have reported fresh corona positive cases. In Maharashtra, the Covid-19 cases climbed to 27,524 followed by Tamil Nadu, which has reported 9,674 and Gujarat has 9,591 cases so far. Finance Minister Nirmala Sitharaman has announced second tranche of stimulus package of Rs 20 lakh crores announced by Prime Minister Narendra Modi. The second tranche focused on migrant workers, street vendors, small traders, the self-employed, and small farmers. (With inputs from agency)