1. What is the approximate amount of the package released by India for the poor hit by the lockdown?
a. ₹1.7 trillion
b. ₹12.7 trillion
c. ₹3.7 trillion
d. ₹2.7 trillion
• India rolled out a ₹1.7 trillion relief package, amounting to about 1% of its gross domestic product, marking an aggressive attempt to limit the economic damage caused by the coronavirus outbreak and tackle the loss of livelihood of millions of poor hit by an unprecedented 21-day nationwide lockdown.
• The relief package, under a newly framed Prime Minister Garib Kalyan Yojana, aims to alleviate the financial pain faced by migrant workers, farmers, urban and rural poor and women.
• As part of the lockdown to stem the spread of the deadly virus, the government has stopped public transport, airlines and construction work, bringing to a halt most economic activities and leaving millions of workers in the informal economy without a livelihood.
2. What is the medical insurance cover provided by the government to the medical health workers?
a. Rs 20 lakhs per individual
b. Rs 50 lakhs per individual
c. Rs 70 lakhs per individual
d. Rs 90 lakhs per individual
• About 2.2 million health professionals at the frontlines of fighting the Covid-19 outbreak, including doctors, nurses, ASHA workers, paramedics, sanitation workers will be provided medical insurance cover of ₹50 lakh per person.
• It is a part of India’s ₹1.7 trillion relief package released under a newly framed Prime Minister Garib Kalyan Yojana.
3. How much amount would be transferred to the women who have Jan Dhan accounts?
a. ₹700 per month
b. ₹300 per month
c. ₹500 per month
d. ₹900 per month
• A one-time transfer of ₹500 per month for next three months to the Jan Dhan accounts of 200 million women will be made.
• A bank account under financial inclusion scheme Pradhan Mantri Jan Dhan Yojana (PMJDY) can be opened in any bank branch or business correspondent outlet.
• PMJDY is a government-run financial inclusion scheme aimed at ensuring access to services such as banking, savings, deposits, remittance, credit, insurance and pension at an affordable price.
• Bank accounts under the Jan Dhan scheme can be opened with zero balance. In other words, the account holder need not maintain any particular account balance to keep the account account.
4. What is the threshold for the MSMEs to prevent triggering of insolvency proceedings against MSMEs?
a. ₹1 crore
b. ₹10 lakhs
c. ₹1 lakh
d. ₹10 crore
• MSMEs stand for Micro, Small & Medium Enterprises. It can be categorised into Manufacturing and Services sector.
• The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under:
• Enterprises engaged in the manufacture or production, processing or preservation of goods as specified below:
1. A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh;
2. A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore;
3. A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore.
• Enterprises engaged in providing or rendering of services and whose investment in equipment (original cost excluding land and building and furniture, fittings and other items not directly related to the service rendered or as may be notified under the MSMED Act, 2006 are specified below.
1. A micro enterprise is an enterprise where the investment in equipment does not exceed Rs. 10 lakh;
2. A small enterprise is an enterprise where the investment in equipment is more than Rs.10 lakh but does not exceed Rs. 2 crore;
3. A medium enterprise is an enterprise where the investment in equipment is more than Rs. 2 crore but does not exceed Rs. 5 crore.
• The Centre has decided to raise the threshold of default under Section 4 of the Insolvency and Bankruptcy Code, 2016, from ₹1 lakh to ₹1 crore in order to prevent triggering of insolvency proceedings against MSMEs.
5. Which of the following set up India's 1st dedicated Covid-19 hospital?
b. Reliance Group
• Reliance Industries Limited said a hospital run by its CSR arm has readied India's first 100-bedded facility at one of its hospitals in Mumbai for patients who test positive for COVID-19.
• It has set up the dedicated hospital in collaboration with the Brihanmumbai Municipal Corporation (BMC) at Seven Hills Hospital.
• It includes a negative pressure room that helps to prevent cross-contamination and helps control infection.
• All beds are equipped with the required infrastructure, bio medical equipment such as ventilators, pacemakers, dialysis machine and patient monitoring devices.