Corona Effect: Modi Govt Announces World’s Largest Food Security Scheme

Coming to the rescue of the poor and the middle-class during the 21 days of the Nationwide Lockdown, Narendra Modi Government had announced the world’s largest food security scheme to benefit 80 crore people across the country. The decision was taken in the Union Cabinet meeting this morning.

Out of them, every person will get 7 kg ration per month for the next three months, including wheat at a cost of Rs 2 per kg, instead of Rs 27 per kg; and rice at cost of Rs 3 per kg, instead of Rs 37 per kg, Cabinet Minister Prakash Javadekar said in a press conference today.

The Central Government also announced the recapitalization of regional rural banks with Rs 1340 crores, to improve their capital adequacy ratio. While Rs 670 crores will be given by the center, Rs 670 crore will be collected from different banks.

Since the non-essential shops were shut down, the apparel industry is one of the badly affected sectors due to the Lockdown. In another major announcement, the cabinet approves extension of the scheme for a rebate of state, central taxes on the export of garments, made-ups