PM Modi chairs Cabinet meeting: Key Decisions

On July 8, 2020, PM Modi chaired the union cabinet meet. Ministers of various departments attended the meet including Finance Minister Nirmala Sitaraman, Union Minister Dr Harsh Vardhan, Defence Minister Rajnath Singh and Home Minister Amit Shah

Key Decisions

The following key decisions were taken during the union cabinet meeting chaired by PM Modi

Pradhan Mantri Garib Kalyan Yojana

The union cabinet approved the extension of free food grains scheme under Pradhan Mantri Garib Kalyan Yojana till November, 2020

Employment Provident Fund

The Employment Provident Fund contribution 24% was extended to another three months. Under this it was announced earlier that the GoI will bear complete 24% (12% employees share and 12% employers share). The total estimated expenditure to implement the scheme is Rs 4,860 crores. The move will benefit 72 lakhs of employees.

Pradhan Mantri Ujjawala Yojana

The union cabinet approved extending time limit for the beneficiaries to avail the benefits of Pradhan Mantri Ujjawala Yojana to 3 months. This will allow 7.4 crore rural women to avail their quota of 3 free LPG cylinders till September 2020. The estimated expenditure for extending the scheme is Rs 13,500

Insurance Companies

The union cabinet approved capital infusion of Rs 12,450 crores into three public  sector insurance companies namely Oriental Insurance Company Limited, United India Insurance Company Limited and National Insurance Company Limited.

Pradhan Mantri Awas Yojana

The Union Cabinet approved to provide affordable rental housing for migrants under Pradhan Mantri Awas Yojana. This is to be done by converting the existing vacant government funded housing complexes into Affordable Rental Housing Complexes (ARHC). Concessional Agreements of 25 years will be signed with the beneficiaries.

The major targets under the scheme are workforce in manufacturing industries and service providers in health, hospitality and commercial establishements coming from rural areas seeking better opportunities.

The GoI is to release Rs 600 crores in the form of Technology Innovation Grant. Around 3 lakh beneficiaries are to be covered under the scheme.

Affordable Renting Housing Complexes

This is a sub scheme that was introduced as a part of Atma Nirbhar Bharat Abhiyan. It aims to provide housing for the urban migrants at affordable rates under Pradhan Mantri Awas Yojana.

Month: Current Affairs - July, 2020