Poverty Current Affairs - 2020

World Bank: Decline of Money sent by Migrant Workers by 110 billion USD

On April 22, 2020, the World Bank announced that the amount of money sent back by the migrant workers to their home countries is to decrease by 110 billion USD.

Highlights

Due to the COVID-19 lock down, the remittances to low-income and middle-income countries are to fall by 20%. The decline in remittance is the highest in the history. This is greater than 2008 financial crisis.

In 2019, the remittance reached all time high of 554 billion USD. The World Bank expects that the foreign remittances are expected to grow next year and recover by 5.6%. This year, in 2020, the remittances are expected to be between 445 billion USD and 470 billion USD.

Migrant Workers

The major regions of the world receiving remittances from Migrant workers include sub Saharan Africa, South Asia, South America.

Implications

These remittances helped countries alleviate poverty, improve nutrition and reduce child labour.

International Labour Organization

According to ILO, the migrant workers account to 258 million in the world.

GoI: 2200 Essential Kits created by “Kendriya Bhandar” distributed to the BPL

On April 8, 2020, the Ministry of Personnel, Public Grievances distributed the essential kits to the needy families. The kits were produced by the Kendriya Bhandar.

What is the Essential Kit?

The Essential Kit consisted of 3 kgs of rice, 3 kgs of wheat, 2 kgs of dal, 1 litre of cooking oil, poha, salt, bathing soap, biscuits and detergent soap bars. The kits were prepared by the Kendriya Bhandar.

Kendriya Bhandar

Kendriya Bhandar is the Central Government Employees Consumer Cooperative Society that was set up in 1963. It operates under Ministry of Personnel, Public Grievances and Pensions of India. The organization was registered as the multi state consumer cooperative society in September 2000.

The main objective of the Kendriya Bhandar is to obtain essential commodities for the benefit of central government employees. It supplies to the subsidiary organizations of GoI and also to Government Departments. They also import and export consumer goods.