JAM number trinity
Jan Dhan account, Aadhaar and Mobile –to effectively target public resources to those who need it most.
Atal Mission for Rejuvenation and Urban Transformation (AMRUT)
| Launched in | June 2015. |
| Purpose | Providing basic services (e.g. water supply, sewerage, urban transport) to households and build amenities in cities which will improve the quality of life for all, especially the poor and the disadvantaged is a national priority. |
| Target | 500 cities. |
Stand-Up India Scheme launched on 5th April, 2016
| About it | Stand-Up India Scheme facilitates bank loans between Rs 10 lakh and Rs 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield (i.e. new) enterprise in manufacturing, services or the trading sector.In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or woman entrepreneur. |
| Refinance | Through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs. 10,000 crore. |
| Operated by | The scheme would be operated by all the branches of Scheduled Commercial Banks. |
Pradhan Mantri Jan-DhanYojana (PMJDY)
| Launched in | August, 2014. |
| National mission | PMJDY is National Mission for Financial Inclusion to ensure access to financial services. |
| Zero balance account | Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet with Zero balance. |
| Features | Accidental insurance cover of Rs. 1 lac life cover of Rs. 30,000/- an overdraft facility uptoRs. 5000/- after satisfactory operation of the account for 6 months. Overdraft facility is available in only one account per household, preferably lady of the household Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts. |
Shyama Prasad MukherjiRurban Mission to Drive Economic, Social and infrastructure Development in Rural Areas
| Launched in | September 2015. |
| Aim | Development of rural growth clusters by provisioning of economic activities, develop- ing skills & local entrepreneurship and providing infrastructure amenities.TheRurban Mission will thus develop a cluster of Smart Villages. |
| Who will identify the clusters | The State Governments would identify the clusters in accordance with the Framework for Implementation prepared by the Ministry of Rural Development.The clusters will be geographically contiguous Gram Panchayats with a population of about 25000 to 50000 in plain and coastal areas and a population of 5000 to 15000 in desert, hilly or tribal areas. |
| Target | to create 300 Rurban growth clusters over the next 3 years, across the country. In the first phase, 100 clusters will be taken up. |
Price Stabilisation Fund
| About PSF | PSF as a Central Sector Scheme, with a corpus of Rs.900 crores, to support market interventions for price control of perishable agri-horticultural commodities. |
| Initial use | Initially the fund is proposed to be used for onion and potato only. |
| Use of Fund | PSF will be used to advance interest free loan to State Governments and Central agencies to support their working capital and other expenses on procurement and distribution interventions for such commodities. Procurement of these commodities will be undertaken directly from farmers or farmers’ organizations at farm gate/mandi and made available at a more reasonable price to the consumers. |
National Agriculture Market (NAM)
| Launched in | April 2016. |
| About NAM | NAM is a pan-India electronic trading portal which networks the existing APMC mandis to create a unified national market for agricultural commodities.The NAM Portal provides a single window service for all APMC related information and services. |
| Capital | Functioning The NAM Portal provides a single window service for all APMC related information and services e.g. commodity arrivals &prices, buy & sell trade offers etc. While material flow (agriculture produce) continue to happen through mandis, an online market reduces transaction costs and information asymmetry. |
| Why NAM | Agricultural marketing is regulated by the States’ Agricultural Produce Marketing Regulation (APMR) Acts.State is divided into several market areas, each of which is administered by a separate Agricultural Produce Marketing Committee (APMC) which imposes its own marketing regulation (including fees). This fragmentation of markets, even within the State, hinders free flow of agri commodities from one market area to another and multiple handling of agri-produce and multiple levels of mandi charges ends up escalating the prices for the consumers without commensurate benefit to the farmer. NAM addresses these challenges by creating a unified market through online trading platform, both, at State and National level and promotes uniformity, streamlining of procedures across the integrated markets, removes information asymmetry between buyers and sellers and promotes real time price discovery, based on actual demand and supply, promotes transparency in auction process, and access to a nationwide market for the farmer, with prices commensurate with quality of his produce and online payment and availability of better quality produce and at more reasonable prices to the consumer. |
Agricultural Marketing and Farmer Friendly Reforms Index
| Launched by | NITI Aayog in Oct 2016 |
| Range | 0 to 100”0” implies no reforms and “100” implies complete reforms in the selected areas.States and UTs have been ranked in terms of the score of the index. |
| First rank | Maharashtra achieved first rank in implementation of various reforms.Gujarat ranks second then Rajasthan and Madhya Pradesh. |
Sovereign Gold Bonds Scheme
| Product name | Sovereign Gold Bond 2016-17 – Series IV |
| Issuance | To be issued by Reserve Bank India on behalf of the Government of India. |
| Eligibility | The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions. |
| Denomination | The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. |
| Tenor | The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates. |
| Minimum size | Minimum permissible investment will be 1 grams of gold. |
| Maximum limit | The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March).A self-declaration to this effect will be obtained. |
| Joint holder | In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only. |
| Issue price | Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period.The issue price of the Gold Bonds will be Rs. 50 per gram less than the nominal value. |
| Payment option | Payment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking. |
| Issuance form | The Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. The investors will be issued a Holding Certificate for the same.The Bonds are eligible for conversion into demat form. |
| Redemption price | The redemption price will be in Indian Rupees based on previous week’s (Mon- day-Friday) simple average of closing price of gold of 999 purity published by IBJA. |
| Sales channel | Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents. |
| Interest rate | The investors will be compensated at a fixed rate of 2.50% per annum payable semi-annually on the nominal value. |
| Collateral | Bonds can be used as collateral for loans.The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time. |
| Tax treatment | The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961).The capital gains tax arising on redemption of SGB to an individual has been exempted. |
| Tradability | Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI. |
| Benefit | The scheme will help in reducing the demand for physical gold by shifting a part of the estimated 300 tons of physical bars and coins purchased every year for Investment into gold bonds.Since most of the demand for gold in India is met through imports, this scheme will, ultimately help in maintaining the country’s Current Account Deficit within sustainable limits. |
Gold Monetization Schemes
| Objective | To reduce the country’s reliance on the import of gold to meet domestic demand. |
| Benefit | Scheme will help in mobilizing the large amount of gold lying as an idle asset with house- holds, trusts and various institutions in India and put this gold into productive use.Mobilized gold will also supplement RBI’s gold reserves and will help in reducing the government’s borrowing cost. |
The Pradhan Mantri Gram SadakYojana (PMGSY)
| Share of Govt | 100% Centrally Sponsored Scheme. |
| Objective | to provide Connectivity, by way of an All-weather Road to the eligible unconnected Habitations in the rural areas with a population of 500 persons and above in Plain areas.In respect of the Hill States (North-East, Sikkim, Himachal Pradesh, Jammu & Kashmir and Uttarakhand), the Desert Areas, the Tribal areas and Selected Tribal and Backward Districts the objective would be to connect eligible unconnected Habitations with a population of 250 persons and above. |
| Target preponed | The Government has brought forward the target date by three years from 2022 to 2019 to achieve complete rural connectivity through all-weather roads under Pradhan Mantri Gram SadakYojana, PMGSY. |
| Only rural areas | The PMGSY shall cover only the rural areas. Urban roads are excluded from the purview of this Programme. |
Atal Pension Yojana (APY)
| Launched in | May, 2015. |
| Applicability | All citizen of India aged between 18-40 years. |
| Focus | All citizens in the unorganized sector. |
| Guaranteed pension | There is guaranteed minimum monthly pension for the subscribers ranging between Rs. 1000 and Rs. 5000 per month. |
| Govt. Contribution | Govt will co-contribute 50% of the subscriber’s contribution or Rs. 1000 per annum, whichever is lower for a period of 5 years, i.e., from Financial Year 2015-16 to 2019-20, who join the NPS between the period 1st June, 2015 and 31st December, 2015 and who are not members of any statutory social security scheme and who are not income tax payers. |
| Monthly pension | Subscribers would receive the fixed minimum pension of Rs. 1000/2000/3000/4000/5000 per month, at the age of 60 years, depending on their contributions. |
| In case of death of the Subscriber | Monthly pension would be available to his spouse and on the death of both, the pension corpus would be returned to the nominee of the subscriber. |
| Administration | The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA) through (NPS) National Pension System architecture. |
| Whether bank account mandatory | Yes, APY is open to all saving bank account holders. A person first must open saving bank account. |
Pradhan Mantri Jeevan JyotiBimaYojana (PMJJBY)
| Launched in | May, 2015 |
| About scheme | Pradhan Mantri Jeevan JyotiBimaYojana is a one year life insurance scheme, renewable from year to year, offering coverage for death due to any reason and is available to people in the age group of 18 to 50 years (life cover upto age 55) having a savings bank account who give their consent to join and enable auto-debit. |
| Risk Coverage | Life cover of Rs. 2 lakhs is available for a one year period stretching from 1st June to 31st May at a premium of Rs.330/- per annum per member and is renewable every year. |
Pradhan Mantri Suraksha BimaYojana (PMSBY)
| Launched in | May, 2015 |
| Eligibility | People in age group 18 to 70 years with bank account. |
| Premium | Rs.12 per annum. |
| Payment Mode | Premium will be directly auto-debited by the bank |
| Risk Coverage | For accidental death and full disability – Rs.2 Lakh and for partial disability – Rs.1 Lakh. |
| Core of The Core Scheme | National Social Assistance Progamme.Mahatma Gandhi National Rural Employment Guarantee Programme.Umbrella Scheme for Development of Schedule Castes.Umbrella Programme for Development of Scheduled Tribes.Umbrella Programme for Development of Minorities.Umbrella Programme for Development of Other Vulnerable Groups. |
SaansadAdarsh Gram Yojana (SAANJHI)
| Launched in | October, 2014 on the birth anniversary of Jayaprakash Narayan. |
| Goal | To develop three Adarsh Grams by March 2019, of which one would be achieved by 2016.Thereafter, five such Adarsh Grams (one per year) will be selected and developed by 2024. |
| Identification of Gram | The MP will identify one Gram Panchayat to be taken up immediately, and two others to be taken up a little later.Lok Sabha MP has to choose a Gram Panchayat from within his/her constituency and Rajya Sabha MP a Gram Panchayat from the rural area of a district of his/her choice in the State from which he/she is elected.Nominated MPs may choose a Gram Panchayat from the rural area of any district in the country. |
Pradhan MantriAwasYojana (PMAY) | Housing for All 2022 Scheme
| Launched in | Nov 2016. |
| National priority | Housing for all has been proclaimed as a national priority for the Government of India. |
| About scheme | The Government in the President’s address announced – “By the time the nation com- pletes 75 years of its Independence (by 2022), every family will have a pucca house with water connection, toilet facilities, 24×7 electricity supply and access”. |
| Components | Housing for All (Rural) implemented by Ministry of Rural Development Housing for All (Urban) Implemented by Ministry of Housing and Urban Poverty Alleviation. |
| Action plan | To achieve the goal of Housing for All by 2022, nearly 3 crore houses would be built in rural areas in the next 7 years and about 2 crore houses in the urban areas. |
Pradhan Mantri Fasal Bima Yojana
| Launched in | January 2016. |
| Replacement | Replacement It replaced existing two schemes viz. National Agricultural Insurance Scheme (NAIS) as well as Modified NAIS (MNAIS) which had some inherent draw- backs. |
| Farmers’ premium | Forrabi crops 1.5% For kharif crops 2% For horticultural and commercial crops 5% |
| Coverage | Crop cycle- pre-sowing to post-harvest losses. |
Entire Country gets National Food Security Act coverage
With the Kerala and Tamil Nadu rolling out the National Food Security Act (NFSA), now the Act has been implemented in all the States and Union Territories.
As a result, now 81.34 crore persons will get wheat at Rs. 2/ kg and rice at Rs. 3/ kg.
Sagarmala Project
| Launched in | March, 2015 |
| Aim | To exploit the potential of India’s approximately 7,500 km long coastline and 14,500km of potentially navigable waterways the Sagarmala Programme aims to promote port-led development in the country. |
| Objectives | Port modernization & new port development, enhancing port connectivity to hinterland, port led Industrialization and coastal community development. |
| National Perspective Plan | As part of the programme, a National Perspective Plan (NPP) for the compre- hensive development of the coastline and maritime sector has been prepared. |
| Sagarmala Development Company | Incorporated under the Companies Act, 2013.The company has an initial Authorized Share Capital of Rs. 1,000 Crore and a subscribed share capital of Rs. 90 Crore. |
| Objective of the company | to identify port-led development projects under the Sagarmala Programme and provide equity support for the project Special Purpose Vehicles (SPVs) set up by the Ports / State / Central Ministries and funding window and /or implement only those residual projects which cannot be funded by any other means / mode. |
| Administrative ministry | Ministry of Shipping. |
Pradhan Mantri Kaushal VikasYojana
| Investment | Rs.12000 crore. |
| Target | to impart skilling to one crore people over the next four years (2016-2020). |
| Fresh training | PMKVY will impart fresh training to 60 lakh youths and certify skills of 40 lakh persons acquired non-formally under the Recognition of Prior Learning (RPL). |
Swachh Bharat Mission
| Launched on | October 2, 2014 (Birth Anniversary of Mahatma Gandhi). |
| Objective | To achieve universal sanitation coverage, improve cleanliness and eliminate open defeca- tion in the country by October 2, 2019 as a fitting tribute to the 150thBirth Anniversary of Mahatma Gandhi. |
| Sub missions | Swachh Bharat Mission (Gramin)-for rural areas under the Ministry of Drinking Water and Sanitation (MDWS) and Swachh Bharat Mission (Urban)- for urban areas under the Ministry of Urban Development RastiyaSwachta Fund. |
| Open defecation | FreestatesFirstSikkimSecond Himachal PradeshThird Kerala |
National Apprenticeship Promotion Scheme (NAPS)
| Launched in | August 2016 to promote apprenticeship. |
| Investment | Rs. 10,000 crore. |
| Target | 50 lakh apprentices to be trained by 2019-20. |
| Components | The scheme has the two components: Govt will reimburse 25% of prescribed stipend subject to a maximum of Rs. 1500/- per month per apprentice to all employers who engage apprentices.Govt will reimburse cost of basic training (upto a limit of Rs. 7500/- for a maximum of 500 hours/3 months) to Basic Training Providers (BTPs) in respect of apprentices who come directly for apprenticeship training without any formal training. |
National LED programme – UnnatJyoti by Affordable LEDs for All (UJALA)
| Launched in | January 2015 |
| Purpose/target | Replacement of 77 crore incandescent lamps with LED bulbs by March 2019. UJALA is the largest non-subsidised LED programme in the world. |
| Implemented through | Energy Efficiency Services Limited (EESL) a joint venture PSU. |
| Why LED | LED bulbs consume half the energy as that of CFLs and one tenth as that of incandescent bulbs. |
Ujwal DISCOM Assurance Yojana (UDAY)
| Launched in | Nov 2015 |
| Purpose | For operational and financial turnaround of State owned Power Distribution Companies (DISCOMs). |
| Aim | The Scheme aims to reduce the interest burden, reduce the cost of power, reduce power losses in Distribution sector, and improve operational efficiency of DISCOMs. |
| Optional scheme | UDAY is optional for all States. |
Pradhan Mantri Ujjwala Yojana (PMUY)
| Launched on | 1st May, 2016 in Ballia, Uttar Pradesh |
| About scheme | 5 Cr LPG connections will be provided to BPL families with a support of Rs.1600 per connection in the next 3 years. |
| Women’s empowerment | Ensuring women’s empowerment, especially in rural India, the connections will be issued in the name of women of the households. |
| Identification of the BPL families Investment | Will be done through Socio Economic Caste Census Data. Rs. 8000 Cr. |
The Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)
| Launched in | August 2016 |
| Announced in | Budget 2016-17. |
| Purpose | To incentivise employers for generation of new employment. |
| Incentive | Government of India will be paying the 8.33% EPS contribution of the employer for the new employment. |
| For the textile (apparel) sector | Government will also be paying the 3.67% EPF contribution. |
| Period of contribution | 3 years, provided workers continue in the employment by the same employer. |
| Implemented through | Ministry of Labour and Employment. |
| Coverage | workers earning wages uptoRs. 15,000/- per month. |
Interest Subvention Scheme
| About scheme | The Central Government will provide interest subvention of 5% per annum to all farmers for short term crop loan upto one year for loan uptoRs. 3 lakhs borrowed by them during the year 2016-17.Farmers will thus have to effectively pay only 4% as interest instead of 9%. |
| Non-payment of loan | In case farmers do not repay the short term crop loan in time they would be eligible for interest subvention of 2% as against 5% available above. |
Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016
| Who can declare | Any person can declare undisclosed income under the Scheme between 17th December, 2016 to 31st March, 2017. |
| Taxes and Penalty | Tax @30% of the undisclosed income, surcharge @33% of tax and penalty @10% of such income will be levied (i.e. effective tax total 50%). |
| Mandatory deposit | Besides tax and penalty, 25% of the undisclosed income will be deposited in Pradhan MantriGaribKalyan Deposit Scheme, 2016. |
| Interest on deposit | The deposits will be interest free and have a lock-in period of four years. |
| Proposed utilization of deposit | This amount is proposed to be utilised for the schemes of irrigation, housing, toilets, infrastructure, primary education, primary health, livelihood, etc., so that there is justice and equality. |
Interest subsidy scheme for housing
| For urban areas | Loans of uptoRs. 9 lakh taken in 2017, will receive interest subvention of 4%.Loans of uptoRs. 12 lakh taken in 2017, will receive interest subvention of 3%. |
| For Rural areas | Loans of uptoRs. 2 lakh taken in 2017, for new housing, or extension of housing in rural areas, will receive an interest subvention of 3%. |
