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 

1. PRADHAN MANTRI JAN DHAN YOJANA:

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.

2. MUDRA BANK YOJANA

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

3. PRADHAN MANTRI JEEVA JYOTI BIMA YOJANA:

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.

4. PRADHAN MANTRI SURAKSHA BIMA YOJANA:

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.

4. ATAL PENSION SCHEME:

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.

  ATAL PENSION SCHEME Features

• 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.

 

 

 

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.