India-World Bank: Social Protection Response Programme

The World Bank and Government of India have signed agreement of 750 million USD recently. The World Bank has assured 1 billion USD assistance to accelerate India’s COVID-19 Social Protection Response Programme. It aims to protect vulnerable households that are impacted due to COVID-19 pandemic.

Highlights

The Social Protection Response Programme is to be implemented by the Ministry of Finance. The programme has increased the total commitment of the World Bank towards India from 1 billion USD to 2 billion USD. The World Bank announced a financial support of 1 billion USD in April 2020.

About the Programme

The programme is to be implemented in two phases. In the first phase, India is to implement the programme through Pradhan Mantri Garib Kalyan Yojana. This includes cash benefits under PM-KISAN, free cylinders under Ujjawala Scheme, additional food grains supply and free supply of food grains under Public Distribution System. Also, cash was deposited to women jan dhan accounts

During the second phase, additional cash is to be deposited through social protection delivery systems. This focused on local needs. The phase is to be extended to the states through the state governments.

The Government of India has recently launched the Atma Nirbhar Bharat Abhiyan under which Rs 20 lakh crores have been allocated to fight against COVID-19 and also to improve lives of the people.

Month: Current Affairs - May, 2020