All Narendra Modi Government Yojanas Schemes
After assuming office on 26th May 2014, PM Narendra Modi has launched a series of schemes or Yojanas that are all geared towards the development of the country. All these policies aim for socio-economic development of Indian enclave with primary focus on agrarian sector development. Let us take a quick look at all schemes launched since Narendra Modi became Prime Minister of the Republic of India.
Pradhan Mantri Krishi Sinchai Yojana
A pro-farmer scheme from Government of India, the Pradhan Mantri Krishi Sinchai Yojana aims towards extending artificial irrigation facilities to 55% of the arable lands in India that are completely dependent on natural cycle of rain for cultivation. As far as the remaining 45% arable lands are concerned, they are already under artificial irrigation facility. A total budget of ₹ 50,000 crores has been allocated for the project. The primary aims of the Yojana are:
- Direct on-field investment in irrigation projects.
- Minimization of water wastage and conservation of water.
- Completion of incomplete watershed projects.
- Introduction of National Agricultural Market project worth ₹ 200 crores. This market aims towards providing a marketplace to the farmers where they can sell their agricultural produce at better rates.
Pradhan Mantri Jeevan Jyoti Bima Yojana
The main objective of Pradhan Mantri Jeevan Jyoti Bima Yojana is that of offering life insurance coverage to Indian populace who earn their livelihood from unorganized sector of the Republic. Anyone within the age range of 18 and 50 possessing an active savings bank account can apply for the scheme. The yearly premium of ₹ 330 is assigned for auto-debit from savings bank account opened under Jan Dhan Yojana. The total coverage offered under this scheme is ₹ 200,000. Several promotional camps are being organized across the length and breadth of the Republic of India and anyone who wishes to avail this scheme can apply directly through those camps. Alternately, they can also approach their respective bank accounts or approach their Micro Insurance Agent or Bank Mitra for availing the scheme. One person cannot apply for more than one insurance under this scheme. Read More about Jeevan Jyoti Bima Yojana,
Pradhan Mantri Suraksha Bima Yojana
With Pradhan Mantri Suraksha Bima Yojana, the government of India aims to provide insurance coverage to every Indian, especially to those who are financially deprived. This scheme offers coverage against accidental death or disability. Those who are willing to avail this facility will need to hold a functional saving bank account and must have Aadhar Number. In absence of any one of the two or both, the scheme cannot be availed. With an annual premium of mere ₹ 12, anyone within the age group of 18 and 70 can avail this scheme. The sum assured or the coverage amount under this scheme has two variation. The first variation is ₹ 100,000 for partial disability caused by sudden accident and the second variation is ₹ 200,000 for complete disability or death caused by an unforeseen accident. Continued availability of the scheme is possible only when subscribes opt for the scheme every year or they can alternately make long term arrangements by filling up a form. The annual premium is set for auto-debit the attached bank account should have sufficient funds for continued coverage. One person can avail only one policy under the scheme. read more about Suraksha Bima Yojana.
Atal Pension Yojana
This is a pension scheme that targets those people who are employed in unorganized sector of the country but do not have pension facilities from employers or any other sources. Under this scheme, anyone within the age group of 18 and 40 can apply. The modus operandi of the scheme involves continued monthly contribution towards the pension account until the age of 60. The guaranteed pension under this scheme is broken into 4 slabs – ₹ 1K, ₹ 2K, ₹ 3K and ₹ 4K.The amount of money contributed by a person each month from the date of availing the scheme to the date when he or she reaches the age of 60 will determine the pension slab that he or she is entitled to.Again, the pension slab is determined by the monthly contribution. However, if a person stops the monthly contribution after a certain time, the account will stay active for 6 month, at the end of which, the account will be frozen. The account can be reinstated again by renewing the payments. In case the monthly payment flow stops for 12 months straight, the account will closed completely and cannot be reinstate. Good news is that for the first 5 years, the Government will match the monthly payment and deposit it to the applicants account. This contribution from government will stop after 5 years. Read More about Atal pension Yojana.
Pradhan Mantri Suraksha Bandhan Yojana
This scheme is dedicated towards the financial security of Indian women and is aimed primarily for the festival of Raksha Bandhan. Under this scheme, brother can buy gift cards worth ₹ 201, ₹ 351 and ₹ 5001. The recipients (the sisters) can liquidate the card at their respective savings bank account and a portion of the liquid amount is used for payment of annual premium of Pradhan Mantri Suraksha Bima Yojana or Pradhan Mantri Jeevan Jyoti Bima Yojana or both. The remaining amount is deposited as term deposit with a locking period of 1 decade (10 years). The interest earned from the term deposit can then work as the annual premium source. The interest earnings accrued from the term deposit will also work as the source for TDS deduction.Please note that not all gift cards can be used for both types of Bima Yojanas mentioned. Though the cards are advertised for the Raksha Bandhan festival, they will be made available for 365 days a year. It is necessary that the card recipients should not be a minor or should be over the age of 50. Also, only one bank account can be associated with either one or both of the Bima Yojanas. Read More about Suraksha Bandhan Yojana.
Pradhan Mantri Kaushal Vikas Yojana
The Pradhan Mantri Kaushal Vikas Yojana is geared towards the young populace of India. The aim here is to impart necessary skills to the Indian youth from unorganized sectors so that they can find better jobs and cope with the demanding needs of the growing and developing economy of India. The PMKVY aims to educate and train 14 lakh young men and women against a total spending of ₹ 1,120 crores. Each trainee under this scheme will be entitled to a one-time stipend, which has been fixed at ₹ 8,000. The monetary allowance will be transferred directly to their bank accounts but for this to happen, Aadhar number of individual trainees will be required. While the primary objective of the Yojana is to impart skills education to Indian youth so that they become employable, the scheme also aims for providing a host of different trainings and lessons such as character development training, training for inculcating necessary behavioral changes that are acceptable to employers as well as personal grooming so that candidates become presentable. All candidates will be assessed and certified as per their skills by third-party assessment bodies. The training provided to the eligible candidates will follow some strict standards that are akin to the skill standards prevalent in international skilled labor community. Training will be provided through training partners of National Skills Development Council as well as centers with direct affiliation to Central Government. Read More about Kaushal Vikas Yojana.
Pradhan Mantri Jan Dhan Yojana
The Pradhan Mantri Jan Dhan Yojana is a flagship undertaking by the current Narendra Modi government. Some stamp this as the most ambitious program of PM Modi. This is true because it is the largest ever financial inclusion program ever undertaken by any government for its country’s citizens in entire world. This scheme aims for empowering every family in the nation with at least one savings bank account that will open doors to all financial instruments that are made available by the government for all Indian citizens. To woo Indian households, the scheme is offering some unique features like zero-balance account, RuPay debit card, ₹ 5,000 for accounts that stay active for 6 months, ₹ 100,000 accidental insurance coverage from HDFC Ergo, mobile banking for poor through National Unified USSD Platform, balance checking and funds transfer options from basic feature phones through a new technology of National Payments Corporation of India etc. Access to such a bank account will allow farmers to access low-interest agricultural loans. These bank accounts will also enable cheap credit for other rural industries, allow direct monetary transaction between buyer and seller and eliminate black money by registering all transactions through RuPay debit card and more! For far, well over 3.02 crore new bank accounts have been opened across India with SBI being the largest provider. Read More about Jan Dhan Yojana.
Deen Dayal Upadhyaya Gram Jyoti Yojana
The grim face of rural India, especially when it comes to electricity availability is the driving factor behind the noble scheme known as Deen Dayal Upadhyaya Gram Jyoti Yojana! The idea here is to ensure that all rural households get a steady supply of electricity 24×7. A similar scheme known as Rajiv Gandhi Grameen Vidyutikaran Yojana that was launched by the Congress government which preceded the Modi government has been absorbed under this new scheme. The budget for this project has been set up at ₹ 76,000 crores out of which the central government will be providing ₹ 63,000 crores.
Deen Dayal Upadhyaya Kaushalya Yojana
Pretty similar to Pradhan Mantri Kaushal Vikas Yojana, the Deen Dayal Upadhyaya Kaushalya Yojana aims towards imparting employable skills to Indian youth. However, this Yojana is restricted particularly to rural India. Only rural youth will be trained under this scheme. Trainees need to be within the age group of 15 and 35 years.Under Deen Dayal Upadhyaya Kaushalya Yojana, the rural youth segment of the country will be trained to make them industry-ready for sectors such as plumbing and automotive, leather and retail, hospitality and health, gems and jewelry etc. In total, the government has identified a 250 different sectors that can absorb the trained rural youth as their employees. This scheme is demand-based and people should be trained in a way that at least 75% of the trained youth should be employed.Sector Skills Councils and National Council for Vocational Training are the bodies that are responsible for setting up the standards for training.
MUDRA Bank Yojana
The MUDRA Bank Yojana is yet another flagship program or scheme launched by the Modi government. This scheme seeks to empower the small businesses in India that employ more labor force compared to the corporate companies. MUDRA, which stands for Micro Units Development and Refinance Agency aims towards regulating the Micro Finance sector of the nation so that small business can get access to finance necessary for sustained growth. The Yojana aims for providing a robust and organized delivery system under a set of predefined guidelines that will propel the lending, borrowing and recovery activities. In case the scheme becomes successful, India will experience unprecedented growth over the next few years. However, the government needs to undertake a grass root level implementation format to ensure that all guidelines are met by Micro Finance Institutions and other lending agencies. Read More about Mudra Loan Yojana.
Beti Bachao, Beti Padhao Abhiyaan or Yojana
With ₹ 100 crore initial corpus allocated for this scheme, the Beti Bachao, Beti Padhao Abhiyaan or Yojana is one of the noblest of schemes launched by Modi government. The aim here is to improve welfare services efficiency in the nation that are targeted primarily for the women. The core objectives of the scheme are to improve or rather increase sex ratio in India. The country is currently ailed with poor female ratio per 1,000 males. Complete uprooting and annihilation of the practice of female feticide is what the government is targeting for in the coming years. It is going to be one big challenge but everything has a beginning. Also, under this scheme, the government aims towards educating females to not only help them understand their rights but also to make independent. Another objective of the scheme is to enhance female safety in the country and reduce the incidents of rape, harassments and eve teasing. Read More about Beti Bachao Yojana.
Sukanya Samriddhi Account Yojana
It is often said that being born as a female child in India is a curse. The Sukanya Samriddhi Account Yojana aims to reverse this idea by safeguarding the interests of female children. Legal guardians or parents, under this scheme, are requested to open a savings bank account in name of the female child. However, there is an eligibility criterion in place. The account should be opened by parents or guardians in the names of their daughters only if the daughters are below the age of 10. Parents or guardians will continue depositing money as long as their daughters are minors. The account can be transferred in case the girl child, on whose name the account has been opened, relocates. The deposit amount in a year cannot be less than ₹ 1,000 or more than ₹ 1,50,000. With that limit in mind, parents can deposit as many times as they want in a year. If the minimum amount is not deposited, banks will impose a fine of ₹ 50. The money deposited in the accounts will earn a yearly interest of 9.1%. This interest rate however is variable and any changes will be notified accordingly and then implemented. Once the girl child attains the age of 18, 50% of the amount can be withdrawn before the end of the financial year. This is known as premature withdrawal. All deposits and interest earnings under this scheme will not be subject to income tax deductions. The Sukanya Samriddhi Account Yojana is actually a part of the Beti Bachao, Beti Padhao Abhiyaan or Yojana. Read More about Sukanya Yojana.
PAHAL-Direct Benefits Transfer for LPG (DBTL) Consumers Scheme
PAHAL existed before the Modi Government came in power. It was launched by UPA government on 1st June, 2013. The idea was to provide cash subsidy for LPG consumers of India. However, there was a very stringent requirement. Under Direct Benefit Transfer Scheme (as it was previously known), the cash subsidy was made available only and only to those people who had Aadhar Number. Those who didn’t have Aadhar number were excluded. Once Modi government came in power, the scheme was revisited and modified. The modified version was named as PAHAL or Pratyaksh Hanstantarit Labh Scheme or Yojana. The modified version promises cash subsidy for even those who do not have Aadhar Number.
Those who have Aadhar Number need to link their Aadhar number to their bank account and to their LPG connection. People who do not have Aadhar Number are required to take a different and rightly enough, an elaborate route. They need to approach their LPG distributor and provide their bank details such as the name of the savings bank account holder, the account number, address of the bank branch, IFSC code (always required for NEFT transfers) etc. The details will be uploaded to LPG database. The details of LPG connection, including the consumer number will then be shared with respective banks. Under the scheme, cash subsidy will be given to consumers for buying, 34 refills of 5 kg each or 12 cylinders of 14.2 kg each. Once the LPG account and the bank account of a customer is connected, the customer will receive the LPG subsidy directly in his or her bank account. The amount of money to be pushed into the account is the difference between existing market rate of LPG and existing subsidies rate of LPG. The idea here is to prevent unauthorized LPG sale at prices higher than market rates. Also, registering or multiple gas connections under a single name will be effectively curtailed and hence, reduce government’s subsidy burden.
Gold Monetisation Scheme
This scheme too existed before Modi government came to power. However, there was a problem. The old scheme asked for a minimum deposit of 500 grams of gold and this was really a big hurdle. The Modi government reduced the minimum requirement to 30 grams. Well, this didn’t really make things clear we know. So, here is a quick summary. Under the Gold Monetization Scheme, the Indian government is looking forward to mobilize 20,000 tons of gold that are held by Indian households. This amounts to $1 trillion of unused gold reserve, which when put in perspective is more than 50% of India’s GDP! Under this scheme, the government seeks to woo people into opening Gold Deposit Accounts with banks where they will deposit their gold as if they deposited money. The gold will then be assessed for purity and the value of the gold will be converted into money and deposited into the bank accounts. The collected gold will then be melted and converted into small bricks. These gold bricks will then be lent to jewelers against interest earnings (banks will earn the interest) or sold to foreign nations to attract foreign capital inflow. Banks may also use the gold to maintain the Statutory Liquid Ratio and Cash Reserve Ratio as per RBI guidelines. Lending to jewelers will help India to reduce gold imports that are known for increasing the Current Account Deficit of the country. Foreign currency influx by selling the gold to other countries will also help India to repay international debts.
From consumers’ aspect, banks will offer 1 to 2% interest on the gold deposit made by the consumers. The interest earnings will be free from taxes of all kinds. In case the consumers want to withdraw the gold, the banks to pay back the actual gold amount and the interest earning. Even the earned interest will be paid back in gold. Read More about Gold Monitisation Scheme and Gold Bond Scheme.
Pandit Deen Dayal Upadhyaya Shramev Jayate Karyakram
Launched back in October 16, 2014, the Pandit Deen Dayal Upadhyaya Shramev Jayate Karyakram aims towards producing an environment that promotes industrial development and helps entrepreneurs to do run their businesses with ease. Besides this, the scheme also aims to help with skill development, welfare and good governance of India’s labor sector. Some of the key features of the program are:
- Unique Labour Identification number for all labors. Labors can register themselves with Local Interconnect Number.
- For ease of compliance, a Unified Labour Portal or Shram Suvidha Portal has been created which has been integrated with Transparent & Accountable Labour Inspection Scheme.
- Vocational training on demand.
- Revamped RSBY or Rashtriya Swasthya Bima Yojana implementation.
- UAN or Universal Account Number for Provident Fund Account of all employees which will allow easy portability. Employees can now access the Provident Fund Account anytime they want using UAN.Unused or inoperative EPF accounts can also be merged together using UAN. EPF accounts can become inoperative due to relocation or change in job.
Atal Mission for Rejuvenation and Urban Transformation
The Atal Mission for Rejuvenation and Urban Transformation or AMRUT scheme is all about transforming towns and cities and making far more efficient in terms of living conditions. Improved living space as well as green and healthy environmental conditions for children are the primary objectives of the scheme. Government has created a list of 500 towns and cities that will undergo rejuvenation and transformation. Some of the activities that will be carried out in these selected settlement areas include but are not limited to:
- Septage management
- Public parks creation
- Public transport improvement.
- Creating a robust delivery system for supply of clean drinking water.
- Creating a network of well-maintained sewerage.
The towns and cities will be selected based on different criteria like tourist popularity, city/town location, population count (should have at least 1 lakh residents) etc.
DigiLocker is another scheme or rather an initiative of Modi Government on the digital front. Maintained by Department of Electronics & Information Technology, the DigiLocker is a cloud storage service provided to all Indians by Government of India. Anyone registering for DigiLocker service will be entitled to 1GB cloud storage facility. Registering for the service will require the applicant to have Aadhar Number. Without Aadhar Number, registration for the service is impossible. Only digital documents in specified formats will be allowed. Organizations will be allowed to access digital documents of the citizens as required. Those who access information are called requesters and are required to register with government as requested. Services like Passport office is one such example of requester. Again organizations can also issue documents to citizens directly into their lockers. These organizations are called issuers. Income Tax office is a typical example of an issuer organization. DigiLocker will not allow audio or video files and can be accessed directly through the web portal maintained by Department of Electronics & Information Technology. This app is yet another gateway to DigiLocker which can be used for storing a number of important documents in electronic format such as driving license, Voter ID card, passport, school certificate, ration card etc. Read More about benefits of Digilocker.
A part of Digital India Programme, eBasta specifically targets students. Basta means school bag and eBasta thus stands for electronic school bag. The idea here is simple. Teachers, students and publishers collaborate on a digital platform. The working model here is that teacher will upload customized content requirements. Based on custom requirements as uploaded by teacher, publishers can upload necessary content to the eBasta platform. Here content refers to books and study material. Digital Rights Management will safeguard publishers against piracy. There are some unique benefits:
- School syllabus and the respective study material will be available digitally for download.
- Anyone can download the documents anytime without waiting.
- Minimizes carbon footprint of the nation by saving trees.
- Can be accessed on the go using a mobile app designed for Android platform. Read More about ebasta.
Swachh Bharat Abhiyan
With a gargantuan budget of ₹200,000 crores, the government of India under PM Narendra Modi’s command has embarked on a noble mission of making India clean. Christened as Clean India Drive or Swachh Bharat Abhiyan, this mission of Modi government aims towards making a cleaner and healthier place to live. Indian celebrities from various fields have been nominated and engaged for propagating the whole idea through the length and breadth of the nation. Because of the humongous cost of the program, Indian government has asked for help from World Bank. Private organizations and big corporate houses of India have been asked to participate in the program as part of their CSR activities. The idea of the program is to make India clean, improve hygiene conditions, improve solid waste management, implement proper toilets in rural areas, construct separate toilets for girls and boys in all schools etc. The program, though looks straightforward is far more complex. Cleanliness will reduce health costs of the nation. The program will also help to improve economic activities of the country. Also, a clean nation can attract more tourists than an unclean nation. Thus, by Clean India Drive, PM Narendra Modi also aimed for increased tourism. Under Swachh Bharat Abhiyan, PM Modi has appealed to all Indian citizens to invest 100 hours of time every single year towards cleanliness.