PM Garib Kalyan Yojana (PMGKY)

The Pradhan Mantri Garib Kalyan Yojana (PMGKY) was launched in the year 2016 by PM Narendra Modi along with the other provisions of Taxation Laws (Second Amendment) Act, 2016. It came into effect from 17th December 2016 under the Ministry of Finance.

To know how to avail benefits under PM Garib Kalyan Yojana, one can visit – https://www.epfindia.gov.in/site_en/covid19.php.

Updates about PM Garib Kalyan Yojana:

1. PM Modi in his speech on 30th June 2020 mentioned the extension of the PM Garib Kalyan Yojana till the end of November 2020. He also mentioned that in the last 3 months, Rs. 31,000 crore deposited in bank accounts of 20 crore poor families.
2. Over 80 crore poor people are to be provided free food grains till November 2020 – 5kg of wheat/rice and 1 Kg of pulses per family.
3. The extension of PMGKY is going to cost Rs.90,000 crore.
4. Due to the outbreak of Covid-19 in India, the Finance Minister, on 26th March 2020, had announced a ₹1.7 lakh crore Gareeb Kalyan package to mitigate the loss faced by the poor due to the coronavirus lockdown.
5. Earlier, the scheme was valid from December 16, 2016, to March 31, 2017, and later was extended till June 2020.
6. The PMGKY provided an opportunity to declare the unaccounted wealth and black money in a confidential manner and avoid prosecution after paying a fine of 50% on the undisclosed income. An additional 25% of the undisclosed income is invested in the scheme which can be refunded after four years, without any interest.

Benefits of PM Garib Kalyan PackageTo reduce the loss caused by the outbreak of Covid-19 in India, the Finance Minister launched the PM Garib Kalyan Package on March 26th 2020 for the BPL families.

Some of the benefits provided by the PM Garib Kalyan Package are as follows:

1. An Insurance Cover of Rs. 50 Lakh
2. Free Pulses for the next 3 months under PM Garib Kalyan Ann Yojana
3. Benefit to farmers
4. Free LPG cylinders to the BPL families
5. To help the low wage earners in organised sectors