With over 4,200 positive cases and 220 deaths – numbers that are only increasing day by day – and revenue expected to take a massive hit due to the 40day lockdown, Maharashtra, the worst-affected state in the Covid-19 pandemic, is in desperate need of funds for testing, lab equipment, quarantining and other relief work.
It is not alone. States across the country will need to be handheld in terms of funds, with resources pooled in from across Central and state ministries to help tackle a pandemic of this proportion. The question then is, are there dedicated funds to address the situation?
The Options Available
The focus currently is on the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund), a new trust constituted by Prime Minister Narendra Modi to mobilise resources through donations to fight the coronavirus outbreak. However, the Centre and states already have a separate fund – not dependent on donations but budgetary allocations – for relief and rehabilitation work in case of a disaster. The fund has two parts – the State Disaster Response Fund (SDRF) and the National Disaster Response Fund (NDRF). Together, they have a size of ₹32,000 crore, of which close to ₹29,000 crore is with states under SDRF.
While SDRFs comprise the bulk of the fund allotted by the Centre for disaster management, donation-based funds such as the Prime Minister’s National Relief Fund and the Chief Minister’s Relief Fund are other sources.
Diese Geschichte stammt aus der May 17, 2020-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 17, 2020-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
"Hire for attitude, not ability"
Thryve Digital is a player in the healthcare technology sector delivering next-generation solutions
Road Warrior
For Khalid Wani, Senior Director of Sales at Western Digital India, life is much more than just the corner office. Biking across the world is one way he derives meaning for his life
WIDENING THE POOL
THERE HAS BEEN A JUMP IN INDIVIDUALS INVESTING DIRECTLY IN THE STOCK MARKETS, BUT MUMBAI AND AHMEDABAD STILL ACCOUNT FOR THE LION'S SHARE. THERE DEFINITELY IS SCOPE FOR IMPROVEMENT IN TERMS OF PENETRATION LEVELS ACROSS THE COUNTRY
CRISIS IN THE CLOUDS
INDIAN AVIATION IS IN CRISIS. AIRLINES ARE GRAPPLING WITH FLIGHT CANCELLATIONS, CREW SHORTAGES, AND COMPLAINTS ABOUT POOR SERVICE, ARE BLEEDING DUE TO RISING COSTS WILL THE FASTEST-GROWING AVIATION MARKET RECOVER?
"India should start privatising public sector banks"
Arvind Panagariya, Chairman of the 16th Finance Commission, on growth, inequality, jobs, the banking sector, and more
THE DARK SIDE OF GOLD LOANS
THERE HAS BEEN A SHARP RISE IN GOLD LOANS IN RECENT YEARS. BUT THERE IS A SEEDIER SIDE TO THIS, AS IS EVIDENT FROM THE RED FLAG THE RBI RAISED RECENTLY. WILL THE REGULATOR'S MOVE PROTECT CUSTOMERS?
"I LET MY WORK DO THE TALKING"
Megha Engineering & Infrastructures MD P.V. Krishna Reddy on being low profile, the infra opportunity and much more
"Core of insurance lies in long-term security"
Vibha Padalkar, MD & CEO of HDFC Life, on the insurance provider's performance, surrender charges, and future innovations
Distress in the Books
Bandhan Bank, the brainchild of Chandra Shekhar Ghosh, has made the journey from an MFI to a bank, but with many hurdles. Now with his resignation as MD & CEO, is the lender staring at more uncertainty?
A Stellar Debut
The TAC Infosec IPO saw bids worth ₹8,417.33 crore pouring in, thanks to intense bidding from all categories of investors
