Government Policies & Projects

Our country is very vast and complex. Each year numerous government schemes or yojanas are announced that take care of the development and prosperity of the people of our country. Here we have a list of all these important yojnas. Let us see government policies & projects.

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Government Policies & Projects

Pradhan Mantri Jan Dhan Yojna (PMJDY)

The objective of this yojna was to make financial services accessible and affordable.

It mostly targets people who are below poverty line and people who don’t have a bank account.

Pradhan Mantri Fasal Bima Yojana (PMFBY).

This Yojna was undertaken in 2014 on 11th of October. It provides insurance cover to rabi and kharif crops and also financial support to farmers in case there is any damage of crops.

Under this scheme, farmers will have to pay a uniform premium of 2% for all kharif crops and 1.5% for all rabi crops.

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Make in India

Make in India was an initiative started in 2014 on 27th September. The scheme focuses on job creation and skill enhancement in 25 sectors of the economy.

The initiative hopes to attract capital and technological investment in India.

Pradhan Mantri Sukanya Samridhi Yojna (PMSSY)

This initiative was taken in the year 2015 on 22 January. It aimed at opening bank accounts for a girl child. Till she turns 14, money is to be deposited, the minimum deposit can be of Rs.1000 per year and maximum can be 1.5 lakh per year.

Pradhan Mantri mudra yojna (PMMY)

Launched in the year 2015 on 8th of April. This Yojna was started to provide funds to the non-corporate small business sector.

Loans of 50 thousand to 10 lakh can be availed under Sishu, Kishore and Tarun categories. Under this Yojna till now approximately Rs. 1 lakh crore loans are sanctioned.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

PMJJBY provides life insurance cover to citizens. This Yojana is a government-backed life insurance scheme. The scheme is open and available to all citizens between the ages of 18 to 50 years.

Policyholders can get life insurance cover of Rs. 2 Lakh with an annual premium of Rs. 330 excluding service tax.

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

                                                                                                                                                     Source: Youtube.com

Launched in the year 2015 on 9th Of May. Its main Objective was to provide accidental insurance cover.

It is a government-backed accident insurance scheme, aimed at increasing the penetration of accidental insurance cover in India. The scheme is open and available to all citizens between the ages of 18 to 70 years.

The policyholder gets a life insurance cover of Rs. 2 Lakh with an annual premium of just Rs. 12 excluding service tax.

Atal Pension Yojana (APY)

This scheme aimed at increasing the number of people covered under any kind of pension scheme. It is one of the three Jan Suraksha schemes. It especially targeted the private unorganized sector and citizens between the ages of 18 to 40 years.

The scheme also provides a monthly pension of Rs 1000 to Rs. 5000 per month based on the contributions made by the beneficiary.

Kisan Vikas Patra

The main objective of KVP was to provide safe and secure investment avenues to budding investors.

It is an investment scheme that promises that the invested money will get doubled in 8 years and 4 months. However, investors would not get any tax benefit for their investment in KVP.

The Kisan Vikas Patra certificates will be available in the denominations of Rs 1,000, 5,000, 10,000 and 50,000 and there is no upper limit.

Gold Monetisation Schemes

This scheme was launched in the year of 2015 on 04 November. To reduce the reliance on gold imports over time and to lure tonnes of gold from households into the banking system were its main objectives.

Under the scheme, people can deposit gold into the banks and earn interest based on the value of the gold.

Start-up India, Stand-up India

This project was initiated in the year 2016 on 16th of January. Its objective was to provide support to all start-up businesses. The start-ups can adopt self-certification to reduce the regulatory liabilities.

Stand Up India Loan Scheme

The main objective of the scheme is to provide financial aid to SC/ST and women to promote entrepreneurship and employment in India. The financial aid will be provided to set up and grow businesses of SC/ST and women in need.

The initiative will also encourage young minds to come up with innovative ideas and create job opportunities in the country.

BHIM App

Indian government launched this app in the year of 2016 on 30th December. Its aim was to enable citizens to send and receive payments using any of the three modes UPI (Unified Payment Interface), AEPS (Aadhar Enabled Payment System) and USSD (Unstructured Supplementary Service Data) using the single BHIM app.

Vrishtha Pension Bima Yojana 2017 – The Old Age Pension Scheme

The Indian government has initiated the idea of Old Age Pension Scheme so that senior citizens get more benefits under this pension scheme, at a minimum interest rate. Here are some similar upcoming, implemented and proposed govt schemes that you should know about:
1. Universal Basic Income Scheme
2. Insurance scheme for jan dhan account holders – (Proposed)
3. Start-up India scheme for Women Entrepreneurs (Upcoming)
4. Power Tex India Scheme
5. Real Estate Bill 2016 to Bring Transparency to the Realty Sector
6. Vidyalakshmi Loan Scheme
7. Demonetization

Educational Schemes & Government Policies for SSC, Banking Exams 2017

Shyama Prasad Mukherji Rurban Mission

The Shyama Prasad Mukherji Rurban Mission (SPMRM)  aims to deliver integrated project-based infrastructure in the rural areas, which will also include the development of economic activities and skill development.

Setu Bharatam Project

Setu Bharatam programme for building bridges for safe and seamless travel on National Highways, in New Delhi

Pradhan Mantri Ujjwala Yojana

Launched in 2016 on 1st May from Ballia in Uttar Pradesh. The scheme aims at replacing the unclean cooking fuels mostly used in rural India with the clean and more efficient LPG (Liquefied Petroleum Gas).

Under this scheme, the government aims to provide LPG connections to BPL households in the country.

• Pradhan Mantri Surakshit Sadak Yojana – Making Roads Safer (Upcoming)
• Shala Ashmita Yojana (Upcoming)
• Pradhan Mantri Gram Parivahan Yojana (Upcoming)
•  National Health Protection Scheme (NHPS) – Health Insurance Cover for Poor (upcoming)

Practice Question

Q 1: The following is the main feature of the Pradhan Mantri Fasal Bima Yojana?

A) Insurance scheme for jan dhan account holders.

B) The start-ups can adopt self-certification to reduce the regulatory liabilities.

C) The scheme is open and available to all citizens between the ages of 18 to 70 years.

D) Farmers will have to pay a uniform premium of 2% for all kharif crops and 1.5% for all rabi crops.

Ans: D) Farmers will have to pay a uniform premium of 2% for all kharif crops and 1.5% for all rabi crops.