InvestorQ : What is Pradhan Mantri Garib Kalyan Yojana(PMGKY)?
Radhika Arya made post

What is Pradhan Mantri Garib Kalyan Yojana(PMGKY)?

Tanu Shukla answered.
2 years ago
The government has announced financial assistance of about 1.7 lakh crore to those affected the most by the lockdown due to coronavirus outbreak. So far, it has provided financial assistance worth Rs 34,800 crore using the digital payment to about 39 crore beneficiaries under the said package. This has been done to protect those beneficiaries from the impact of COVID-19 lockdown.

Under the said package, the government has free food grains and cash payments to women and poor senior citizens and farmers.

The benefits of the scheme shall be extended to the PM-KISAN scheme, JAN DHAN scheme, etc.

The money that has been utilized in the scheme is the money that has been collected by the government during the demonetization period in 2016. Under the scheme, those who disclose their excess income shall be given a rebate of 50% on the tax to be levied, and the 25% amount of the disclosed income was supposed to be kept with the government for the benefit of the poor in society. There’s no specific procedure to apply to avail the benefits of the scheme, it is applicable on all ration card holders, BPL cardholders, etc.