Current Affairs In Detail

Centre to inject Rs.1 lakh crore into rural hands
Centre to inject Rs.1 lakh crore into rural hands

GoI has also announced a massive grain purchase by official agencies and direct cash transfers.

14 April 2020 Current Affairs:The Government of India aims to inject Rs.1 lakh crore into villages. The move is to boost the rural economy. GoI has also announced a massive grain purchase by official agencies and direct cash transfers. It will also support the farmers if the lockdown further delayed the harvest.

Highlights:
♦ The government initiative aims to ease restrictions on farm products during the lockdown. 
Food Corporation of India (FCI) is to procure grains in Punjab, Uttar Pradesh and Madhya Pradesh from 15 April. The massive procurement involves farmers, transporters, traders and labourers. FCI plans to buy 40 million tonnes of wheat at Rs.19,250 per tonne.
♦ Due to the lockdown, many farmers have suffered the loss of perishable products like fruit and vegetables that could not reach the market.
♦ Government will also pay around Rs.80,000 crore to farmers in the next three months.
♦ GoI will also transfer Rs.16,000 crore directly into bank accounts of 80 million farmers in April 2020 under the PM-KISAN scheme. It will give them a cash benefit of Rs.6,000 a year in three equal installments. So far 74.7 million have already been paid the April installment.