Pradhan Mantri Garib Kalyan Yojana 2024 | Benefits & Features

The Pradhan Mantri Garib Kalyan Yojana was introduced by the Indian government in 2016 as a part of the Taxation Laws Act 2016. (second amendment). The PM Garib Kalyan Yojana scheme’s original goal was to make sure tax evaders reveal undeclared money in order to avoid penalties and criminal prosecution. The government wanted to employ the black money contributed under this scheme for the benefit of the underprivileged. In effect from December 2016 to March 2017, the programme. The government expanded the programme in 2020 to provide aid during the epidemic. The purpose was to help the underprivileged maintain their standard of living during COVID-related lockdowns. In this post, we cover all the major aspects of Pradhan Mantri Garib Kalyan Yojana, its objective, benefits, eligibility criteria and many more required details.

Pradhan Mantri Garib Kalyan Yojana
Garib Kalyan Yojana

About Pradhan Mantri Garib Kalyan Yojana

The Government of India introduced the Pradhan Mantri Garib Kalyan Yojana (PMGKY), which went into force in 2016. People are able to deposit tax-free money thanks to it. The plan requires that 50% of the untax sum will pay. In response to the COVID-19 epidemic, the government led by Prime Minister Narendra Modi on March 26, 2020, launched the Pradhan Mantri Garib Kalyan Yojana, which will cost 1.7 lakh crore (PMGKY). The government of India has offered a relief package worth Rs 20 lakh crore as part of the “Atma Nirbhar Bharat Abhiyan” to create an independent country in the midst of the COVID-19 lockdown. The Scheme gives people the chance to declare their income and pay taxes, surcharges, and penalties totalling 49.9% of their stated income

Also Read: Pradhan Mantri Awas Yojana 

Key Highlights of Garib Kalyan Yojana

Launched By PM Narendra Modi
Name of YojanaPradhan Mantri Garib Kalyan Yojana 2024
ObjectiveThe primary goal of the PMGKY was to recover black money from tax evaders.
BenefitsFood security and Direct Benefit Transfer (DBT)
Eligibility CriteriaHolders of priority household (PHH) ration cards
BeneficiariesPoor people of country
Official WebsiteGarib Kalyan Yojana

The objective of Pradhan Mantri Garib Kalyan Yojana

The PMGKY was initially established to recover black money from tax evaders by providing them with immunity from legal action. The government provided a chance for tax evaders to reveal unreported income with a 49.9% tax rate under the PM Garib Kalyan Yojana plan. The deposited money was to be used to eliminate income disparity in the nation. The government announced assistance programmes during the COVID-19 pandemic along with the renewal of the plan in 2020. Preventing job disruption for low-wage workers and assisting small businesses were the goals of the extension (with up to 100 employees). As part of the extension, the federal government paid the full employee EPF payments (12 per cent of total salaries) and employers’ EPF & EPS contributions (12 per cent of wages), for a three-month total of 24 per cent of the monthly wages.

Benefits of PM Garib Kalyan Yojana

Shortly after the national lockdown was declared, Union Finance Minister Nirmala Sitharaman issued a package of Rs. 1.70 lakh crore under the plan. The government said that 20 lakh COVID-19 combatants will receive medical insurance coverage of Rs. 50 lakh for each individual as part of the deal.

The package’s advantages have two categories that are as follows:-

  • Food Security 
  • Direct Bank Transfer (DBT)

Food Security

The government declared that 80 crore people will receive 5 kg of rice or wheat and 1 kilogramme of their favourite pulse per month till the end of November as part of food-related relief initiatives. In addition to the monthly delivery of 5 kg of rice or wheat, this advantage will be available.

Direct Bank Transfer (DBT)

Specific announcements by the Finance Minister under DBT (Direct Benefit Transfer).

Benefit for farmers

As part of the Kisan Samman Nidhi scheme, farmers would get an additional front-loaded sum from the government of Rs. 2000.

Salary increase

For the next 100 days, the daily wage for MNREGA (the Mahatma Gandhi National Rural Employment Guarantee Act) employees has been raised to Rs. 202. It is anticipated that 5 crore families will benefit.

Ex-gratia of Rs. 1,000

Over three months, the government would give ex-gratia of Rs. 1,000 to 3 crore elderly, crippled, and widowed people who are in need.

Free LPG cylinders

Under the Ujjwala programme, free LPG cylinders would be to 8.3 crore BPL families with LPG connections for the ensuing three months.

Ex-gratia for women account holders

20 crore women who have accounts under the Jan Dhan Yojana Scheme will get an ex-gratia payment of Rs 500 per month for the next three months.

Get loans without collateral

63 million women’s Self-Help Groups (SHGs) would be eligible to apply for collateral-free loans up to Rs. 20 lakh via the National Rural Livelihood Mission (NRLM).

EPF benefit for employees in the regulated sector

The government will cover both the employer and employee halves of the EPF contribution for the following three months (12 per cent each). The change would assist businesses with up to 100 employees, 90% of whom are paid less than Rs. 15,000 per month. Additionally, the government changed EPFOlaws so that employees may get a non-refundable advance of three months’ wages.

Utilization of the district mineral fund and the welfare fund

The federal government has instructed state governments to use the district mineral fund and the welfare fund. The district mineral money is to be utilised for screening, testing, and other criteria to prevent COVID-19, while the welfare fund is being requested to safeguard the construction workers.

Eligibility Criteria 

The applicants who want to appear under PM Garib Kalyan Yojana must fulfil the following eligibility criteria:

  • This yojana is especially applicable for women account holders, old age persons, widows and disabled persons.
  • The beneficiary Kisan from PM Kisan Yojana is also eligible for the scheme.
  • The building and other construction workers’ employees will also receive the benefit of this scheme.

Also Read: Pradhan Mantri Matru Vandana Yojana

Application Procedure for Pradhan Mantri Garib Kalyan Yojana 2023

  • The steps have been made straightforward. All a beneficiary needs to do is to create a Jan Dhan Account at any bank that the Reserve Bank of India has approved. 
  • In the bank, you have to fill out the account opening form which contains all your required information.
  •  As the application provides income documentation, it will be checked by the bank employees.
  •  if the applicant is found to be qualified, benefits of the plan will be provided.

Contact Details

If you have more queries related to PM Garib Kalyan Yojana 2023, then visit their official website, where you get all the required information.

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