Born on September 17, 1950, Prime Minister Narendra Modi is celebrating his 72nd birthday today (Saturday, September 17, 2022). Narendra Modi took oath as the Prime Minister of the country for the first time on 26 May 2014. Modi became PM again, took oath for the second time in May 2019. The Modi government has launched more than two dozen people-centric schemes. Since coming to power.
Here’s looking at 10 major schemes launched by the Narendra Modi government that have helped accelerate the pace of reforms and transform lives of people in the country.
Pradhan Mantri Jan-Dhan Yojana
Pradhan Mantri Jan-Dhan Yojana (PMJDY) This was announced by the Prime Minister Shri Narendra Modi in his Independence Day address on 15 August 2014. Launching the program on August 28, the Prime Minister had described the occasion as a celebration of the liberation of the poor from a vicious circle. Pradhan Mantri Jan-Dhan Yojana (PMJDY) is the National Mission for Financial Inclusion, to ensure access to financial services, namely banking/savings and deposit accounts, remittance, credit, insurance, pension, in an affordable manner. As per the August 2021 data, more than 43.04 crore beneficiaries were banked under PMJDY since inception, amounting to Rs. 146,231 crores.
Pradhan Mantri Ujjwala Yojana (PMUY)
Pradhan Mantri Ujjwala Yojana (PMUY) was launched on May 01, 2016, while Ujjwala 2.0 was launched on August 10, 2021. Through PMUY, the government aims to provide the health of women and children with clean cooking fuel. Under the scheme deposit-free LPG connection with financial assistance of Rs 1600 per connection is given to the eligible family. For the first time ever, LPG refills and gas stoves are provided free of cost by Public Sector Oil Marketing Companies (OMCs). As per the government estimates in 2022, LPG coverage has increased to 104.1 per cent in 2022 as compared to 62 per cent in 2016. Over 9 crore deposit-free LPG connections have been distributed under PMUY in the last 6 years.
Startup India, the flagship initiative was launched by the Modi government in January 2016. The objective of launching Startup India was to build a strong eco-system for nurturing innovation and startups in the country which will spur economic growth and generate massive employment opportunities. Through this initiative, the government aims to empower startups to grow through innovation and design. Data for April 2022 shows that startups have grown from 471 in 2016 to 72,993 in 2022.
standup india scheme
The Modi government also launched the Standup India scheme in April 2016 to promote grassroots entrepreneurship with a focus on economic empowerment and job creation. Stand-up India aims to promote entrepreneurship among women, Scheduled Castes (SC) and Scheduled Tribes (ST) categories, helping them to start a greenfield enterprise in manufacturing, services or business sector and activities allied to agriculture Can you It aims to facilitate bank loans between Rs 10 lakh and Rs 1 crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) and one woman per bank branch from Scheduled Commercial Banks (SCBs) for setting up a greenfield enterprise. is to provide. in trade, services or manufacturing. The data for April 2022 showed that loans worth over Rs 30,160 crore have been sanctioned in over 1,33,995 accounts in 6 years under the Stand-up India scheme.
PM-KISAN is a central sector scheme launched on February 24, 2019 to meet the financial needs of the land holder farmers. Financial benefit of Rs 6000 per year is transferred in three equal installments every four months to the bank accounts of farmer families across the country through Direct Benefit Transfer (DBT) mode. The scheme was initially for Small and Marginal Farmers (SMFs) having land holding up to 2 hectares, but the scope of the scheme was extended to cover all landholding farmers with effect from 01.06.2019.
Atal Pension Yojana
Atal Pension Yojana (APY) is the flagship social security scheme of the Narendra Modi government. Launched by Prime Minister Narendra Modi on May 9, 2015, APY aims to provide old age income security especially to workers in the unorganized sector. APY can be subscribed by any Indian citizen in the age group of 18-40 years who has a bank account. APY is a government scheme administered by PFRDA through NPS architecture. The minimum age to join APY is 18 years and maximum age is 40 years. Therefore, the minimum period of contribution by the subscriber under APY would be 20 years or more. Firstly, it provides a minimum guaranteed pension of Rs 1000 to Rs 5000 on attaining the age of 60 years. Secondly, lifelong pension is guaranteed to the spouse on the death of the subscriber. Third, in the event of death of both the subscriber and the spouse, the entire pension amount is paid to the nominee. Monthly contribution to APY is pre-determined. Under APY, subscribers will receive a fixed pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contribution, which will vary on the age of joining the APY itself.
Prime Minister Street Vendor’s Self-Reliant Fund Scheme
Prime Minister’s Street Vendor’s Atmanirbhar Nidhi (PM SWANIDHI) was launched by the Ministry of Housing and Urban Affairs on June 01, 2020 to provide affordable working capital loans to street vendors to restart their livelihoods, which have been affected by the COVID-19 pandemic. -19 have been adversely affected due to the lockdown. , In April this year, the CCEA approved continuation of loans under PM SVANIDhi from March 2022 to December 2024, with a focus on increasing collateral free affordable loan funds, adoption of digital transactions and street vendors and their overall socio-economic development. to be done. family.
Prime Minister’s Mudra Yojana
Pradhan Mantri Mudra Yojana (PMMY) was launched by Prime Minister Narendra Modi on April 8, 2015 to provide loans up to Rs. 10 lakh to non-corporate, non-farm small/micro enterprises. Loans are provided under PMMY up to Rs. 10 lakhs through Member Lending Institutions (MLIs) ie; Banks, Non-Banking Financial Companies (NBFCs), Micro Financial Institutions (MFIs), other financial intermediaries, into three categories, ‘Shishu’, ‘Kishor’ and ‘Tarun’, depending on the stage of growth or development and financing needs. it shows. debtor
Shishu: Covering loans up to Rs. 50,000
Kishor: Covering loans above Rs. 50,000 and Rs. 5 lakh
Tarun: Covering loans of more than Rs. 5 lakh and Rs. 10 lakh
Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMSBY) and Pradhan Mantri Suraksha Bima Yojana (PMJJBY) are two schemes launched by the Modi government in 2015 that aim to provide affordable insurance and protection to the people. PMJJBY and PMSBY provide people with access to low cost life/accident insurance cover. PMJJBY is a one year life insurance plan which is renewed year after year and offers coverage for death due to any reason. Persons in the age group of 18-50 years having a savings bank or post office account are eligible to enroll under this scheme. Those who join the plan before attaining the age of 50 years can continue to cover the risk of life till the age of 55 years on payment of premium. 2 lakh in case of death due to any cause against a premium of Rs. 330/- per annum.
Prime Minister’s Suraksha Bima Yojana
Pradhan Mantri Suraksha Bima Yojana (PMSBY). PMSBY is a one year accident insurance plan which is renewed from year to year and offers coverage for death or disability due to accident. Persons in the age group of 18-70 years having a savings bank or post office account are eligible to enroll under this scheme. Accidental death cum disability cover of Rs 2 lakh (Rs 1 lakh in case of partial disability) for death or disability due to accident.
Sovereign Gold Bond Scheme
The Sovereign Gold Bond scheme was launched in November 2015, with the aim of reducing the demand for physical gold and transferring a part of household savings – used for gold purchases – to financial savings. Sovereign Gold Bond Scheme Grams are government securities denominated in gold. They are an alternative to holding physical gold. Investors will have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The bond is issued by the Reserve Bank of India on behalf of the Government of India. Bonds are restricted for sale to resident individuals, HUFs, trusts, universities and charitable institutions.