COVID-19 and Social Security Programmes and Schemes in India

With strong macroeconomic fundamentals, the Indian economy was well-placed on the trajectory of steady growth rate when the outbreak of coronavirus epidemic, emanating from China, was reported. On March 11, 2020, the World Health Organization (WHO) declared the epidemic as a pandemic. Normal economic activities around the world came to a screeching halt as governments announced lockdowns to prevent the spread of the disease. India announced a stringent nationwide lockdown from March 25, 2020. Most of the economic activities in urban areas were halted. However, rural India continued to be normal in view of the exemption from restrictions allowed to farmers to conduct farming operations, including harvesting and transporting their produce to grain markets with the general conditions of face covering, hand hygiene, and social distancing. Sensing the gravity of the situation, Prime Minister Narendra Modi announced on May 12, 2020, a ` 20 lakh crore stimulus package which was about 10 percent of country ;;s gross domestic product (GDP). It was named as Aatmanirbhar Bharat Abhiyan (Self-reliant India Initiative). The details of the ` 20 lakh crore package were announced by Finance Minister Nirmala Sitharaman in five tranches during the next five consecutive days. Many of the measures announced by the Government were aimed at giving relief to the poor and lower middle class and increasing the pricing power of farmers.