Important Schemes By Modi Government Which can be Benificial

 Important Schemes: Modi government seems to be on track with its poll promises. Most of the recent surveys suggest that people are happy with the initiative towards progress. Though the output is yet to be seen, the progress looks promising. We take a look at some of the important schemes that every aspirant must know which are important for SSB 


The Objective of “Pradhan Mantri Jan-Dhan Yojana (PMJDY)” is ensuring access to various financial services like availability of basic savings bank account, access to need-based credit, remittances facility, insurance and pension to the excluded sections i.e. weaker sections & low-income groups.

Benefits of schemes are

1. Interest on deposit.
2. Accidental insurance cover of Rs.1Lakh
3. No minimum balance required
4. Life insurance cover of Rs.30,000
5. Overdraft facility after 6 months.
6. Access to Pension, insurance products.
7. RuPay Debit Card.
8. Overdraft facility up to Rs.5000/- is available in only one account per household.


Launched on 8th April 2015.  MUDRA will provide credit up to Rs.10 lakh to small entrepreneurs & act as a regulator of Microfinance institutions. The Objective of the scheme is to encourage entrepreneurs and small business units to expand their capabilities and to reduce indebtedness.

Schemes offered by MUDRA bank are:

  •  Shishu-the starters-covers loan up to Rs.50,000
  • Kishor-the mid-stage finance seekers-covers loan above Rs.50,000 and up to Rs.5,00,000.
  • Tarun-growth seekers- covers loan above Rs.5,00,000 and up to Rs. 10,00,000


Launched on 9th May 2015.

It is a government-backed life insurance scheme. It is open all sects of Indian civilians

Age limit: 18 to 50 years of age.
Annual premium- Rs.330 per year for life cover of Rs.2,00,000.

The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join/enable auto-debit. Aadhar would be the primary KYC for the bank account. The life cover of Rs. 2 lakhs shall be for the one year period stretching from 1st June to 31st May and will be renewable. Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason. The premium is Rs. 330 per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme. The scheme is being offered by Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie-up with banks for this purpose.


The government scheme is accident insurance coverage and is affordable for all sects of people.
Age limit: 18-70 years
Annual premium: Rs.12 per year.
Coverage: accidental death and full disability of Rs.2,00,00 and Rs.1,00,000 for partial disability.

The Scheme is available to people in the age group 18 to 70 years with a bank account who give their consent to join/enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme isRs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The premium of Rs. 12 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment. The scheme is being offered by Public Sector General Insurance Companies or any other General Insurance Company who are willing to offer the product on similar terms with necessary approvals and tie-up with banks for this purpose.


The Atal pension scheme is targeted at unorganized sector workers. Depending upon the contribution, the beneficiary will get a guaranteed pension of Rs.1000 to Rs.5000 per month. Govt will contribute 50% of total contribution or Rs.1000 whichever is lower.

Age limit: 18-40 years
The pension will start at the age of 60 years.


  • Guaranteed monthly pension for subscribers, ranging from Rs. 1,000 to Rs. 5,000 per month.
  • Government of India (GoI) will also co-contribute 50% of the subscriber’s contribution or Rs. 1,000 per annum, whichever is lower. The Government co-contribution is available for those who are not covered by any Statutory Social Security Schemes and is not an Income Taxpayer
  • GoI will co-contribute to each eligible subscriber, for a period of 5 years who joins the scheme in the period June 1 to December 31, 2015. The benefit of five years of Government co-contribution under APY would not exceed 5 years for all subscribers including migrated Swavalamban beneficiaries.


indicative APY Contribution Chart (Age wise)


Age of Entry Years of Contribution Monthly pension of Rs. 1000. Monthly pension of Rs. 2000. Monthly pension of Rs. 3000. Monthly pension of Rs. 4000. Monthly pension of Rs. 5000.
18 42 42 84 126 168 210
19 41 46 92 138 183 228
20 40 50 100 150 198 248
21 39 54 108 162 215 269
22 38 59 117 177 234 292
23 37 64 127 192 254 318
24 36 70 139 208 277 346
25 35 76 151 226 301 376
26 34 82 164 246 327 409
27 33 90 178 268 356 446
28 32 97 194 292 388 485
29 31 106 212 318 423 529
30 30 116 231 347 462 577
31 29 126 252 379 504 630
32 28 138 276 414 551 689
33 27 151 302 453 602 752
34 26 165 330 495 659 824
35 25 181 362 543 722 902
36 24 198 396 594 792 990
37 23 218 436 654 870 1,087
38 22 240 480 720 957 1,196
39 21 264 528 792 1,054 1,318



Pradhan Mantri Yuva Yojana

Pradhan Mantri YUVA Yojana (Yuva Udyamita Vikas Abhiyan) is a centrally sponsored Scheme on entrepreneurship education and training being implemented by the Ministry of Skill Development and Entrepreneurship, Government of India.

Specific objectives and deliverables

  1. Educate and equip potential and early-stage entrepreneurs
    • Develop and deliver entrepreneurship education to all citizens free of charge through Massive Open Online Courses (MOOCs) and other online programs accessible through a Learning Management System (LMS).
    • Design an assessment and certification mechanism.
    • Equip a total of 3,050 institutions to deliver world-class entrepreneurship education programs: 2,200 Institutes of Higher Learning (Universities, Colleges, Premier Institutions and AICTE Institutions including Polytechnics); 300 schools (10+2); 500 Industrial Training Institutes (ITIs) and 50 Entrepreneurship Development Centres (EDCs).
    • Focus on the promotion of social entrepreneurship.
  2. Connect entrepreneurs in enabling networks of peers, mentors, funds and business services
    • Create an “online market place” – a web-based platform connecting entrepreneurs to each other for peer – to – peer networking and investors, financial institutions and business services such as legal, accounting, technology and HR services.
    • Set up a national mentor network for young entrepreneurs.
    • Establish a national network of incubators, accelerators and credit agencies.
    • Establish a national network of business service providers.
    • Leverage schemes/initiatives of Central Ministries and State/UT Governments.
  3. Support entrepreneurs through Entrepreneurship Hubs (E – Hubs)
    • Establish a National Entrepreneurship Resource and Coordination Hub to coordinate and support entrepreneurship development programs.
    • Establish Regional, Nodal, and Entrepreneurship Hubs to coordinate and support entrepreneurship programs at all levels.
    • Develop a cloud-based Management Information System that tracks entrepreneurs, training institutes (Project Institutes), faculty, students and outcomes.
    • Factory on Wheels.
  4. Catalyze a culture shift to encourage entrepreneurship
    • Create a culture of dynamic entrepreneurship through events, branding and media.
    • Drive entrepreneurship research & advocacy.
    • Social Entrepreneurship Awareness Programmes for SC/ST and minority beneficiaries.
    • Supervision of progress of the beneficiaries

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