As coronavirus pandemic puts countries back against the wall, governments across the world are bringing in economic measures to ease the burden on people during what is turning out to be a crucial test - of economy and health.?
With countries in lockdown, many people have lost their jobs, while others find it difficult to make the ends meet. The unemployment has risen and it has forced the states to act and press forward with relief packages.?
US, India, Canada, and many other countries have made contingency funds available to tackle the ill effects caused by the COVID-19.?
Canada has passed a multi-billion-dollar relief package to respond to the coronavirus slowdown.?It allows the government to spend $75bn (?64bn) in emergency aid and economic stimulus to assist Canadians struggling financially.
Measures in the bill include a boost to child benefit payments to families with children, wage subsidies for small business and tax relief measures.
The bill would give 2,000 Canadian dollars a month for the next four months for people who lost their job because of Covid-19. It would apply to people who are quarantined, helping a sick family member, have been laid off or have not received payment from their employer.
The Canadian government said citizens made nearly one million claims for unemployment benefits last week, which is equivalent to about 5% of Canada's workforce.
India too, announced a Rs 1.70 Lakh crore scheme for the underprivileged as the country is put under a lockdown in wake of the deadly coronavirus pandemic.?The scheme has been named?Pradhan Mantri Garib Kalyan Scheme.?
The package also includes?medical insurance cover of Rs 50 lakh per person for those at frontline of the war against?coronavirus - nurses, paramedics and sanitation workers.?
The incentives will provide,?"80 crore poor people 5 kg wheat or rice and 1 kg of preferred pulses for free every month for the next three months.??As many of 20.5 crore women Jan Dhan Account holders will get Rs 500 per month for next three months to run their households.
For poor senior citizens, widow and disabled will get an ex-gratia of Rs 1,000.
While India and Canada have brought measures, US has also announced a $2 trillion rescue for virus-hit economy.?The deal aims to salvage the stumbling economy by giving roughly USD 2 trillion to health facilities, businesses and ordinary Americans buckling under the strain of the coronavirus pandemic.?
The measure will put cash directly into the hands of Americans hard hit by the crisis, provides grants to small businesses and hundreds of billions of dollars in loans for larger corporations including airlines, and expands unemployment benefits.