We have been getting a lot of queries in regards to the various schemes and yojanas that the government has introduced over the last 3 years, and how it positively impacts our lives. So here is a post that lists the important Pradhan Mantri Yojana that one needs to know about.
The Central government led by Hon. Prime Minister, Shri Narendra Modi has launched various welfare schemes for the betterment and improvement of lives of various sections of the society. Here are some of the important Pradhan Mantri Yojana you definitely need to know about.
Pradhan Mantri Yojana You Need to Know off:
There are many schemes and initiatives that are introduced by our Government. However, here are some of which all of us should know about.
Pradhan Mantri Jan Dhan Yojana (PMJDY)
Launched: 28 August 2014
Objective: Financial inclusion and access to financial services for all households in the country.
Pradhan Mantri Jan Dhan Yojana (PMJDY) is a national mission to bring comprehensive financial inclusion of all the households in the country. Under the PMJDY, any individual above the age of 10 years and who does not have a bank account, can open a bank account without depositing any money.
The scheme was introduced to ensure everyone has access to basic financial services of banking – savings & deposit accounts, remittance, credit/ debit cards, insurance and pension in affordable manner.
Especially relevant, the scheme was mostly targeted to the people belonging to the Below Poverty Line. Furthermore, it is beneficial to everyone who does not have a bank account.
Jan Dhan Yojana has seen a remarkable success. About 21 Crore accounts had been opened in just about one and half year under the scheme.
Pradhan Mantri Sukanya Samriddhi Yojana (PMSSY)
Launched: 22 January 2015
Objective: Secure the future of girl child
Sukanya Samriddhi Yojana is an ambitious small deposit savings scheme for a girl child. Under the scheme, a saving account can be opened in the name of girl child and deposits can be made for 14 years. After the girl reaches 18 years of age, she can withdraw 50% of the amount for marriage or higher study purposes.
After the girl completes 21 years of age, the maturity amount can be withdrawn including the accumulated interest (at rates decided by Government every year). Furthermore, the investments and returns are exempt under section 80C of Indian income tax act.
In case of more than one girl child, parents can open another account on the different name but only for 2 girl children. Only exception is that the parents have twins and another girl child.
Pradhan Mantri MUDRA Yojana (PMMY)
Launched: 8 April 2015
Objective: Financial support for growth of micro enterprises sector.
Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana was launched to fund the non-corporate small business sector. Consequently, the small businesses/startups or entrepreneurs can avail loans from Rs. 50 thousand to 10 Lakh to start/grow their business under the three, Shishu, Kishore and Tarun categories of the scheme.
As a result, 27344053 number of loans and more than Rs 1 Lakh Crore has been sanctioned under the scheme till 26 February 2016.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Launched: 9 May 2015
Objective: Provide life insurance cover to all Indian citizens
Pradhan Mantri Jeevan Jyoti Bima Yojana is a government backed life insurance scheme in India for increasing the penetration of life insurance cover in India. Most of all, the scheme is available to all Indian citizens between the age of 18 to 50 years.
Under the scheme, the policy holder can get a life insurance cover of INR 2 Lakh with an annual premium of just INR 330 excluding service tax. All the Indian citizens between 18-50 years of age with a saving bank account can avail the scheme.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Launched: 9 May 2015
Objective: Provide accidental insurance cover to all Indian citizens
Pradhan Mantri Suraksha Bima Yojana is for increasing the penetration of accidental insurance cover in India. The scheme is open and available to all Indian citizens between the age of 18 to 70 years.
Under the scheme, the policy holder can get a life insurance cover of INR 2 Lakh with an annual premium of just INR 12 excluding service tax. Furthermore, all the Indian citizens between 18-70 years of age with a saving bank account are eligible to avail the scheme.
Pradhan Mantri Awas Yojana (PMAY)
Launched: 25 June 2015
Objective: To Achieve housing for all by the year 2022.
Pradhan Mantri Awas Yojana is an ambitious scheme of Narendra Modi Government. Under the PMAY, the government aims to provide about 5 Crore affordable homes to the people belonging to EWS and LIG categories by the year 2022. Consequently, there is a target of building 2 crore homes in urban area and 3 crore in rural areas across the country.
Under this scheme, the government will provide financial assistance to the poor home buyers, interest subsidy on home loan and direct subsidy on homes bought under the scheme.
Pradhan Mantri Fasal Bima Yojana (PMFBY)
Launched: 11 October 2014
Objective: Provide insurance cover for rabi and kharif crops and financial support to farmers in case of damage of crops.
To make crop insurance simpler and cheaper for the farmers and to provide them with better insurance services, the Government of India has launched a Central Sector Scheme of Pradhan Mantri Fasal Bima Yojana (PMFS) replacing NAIS and MNAIS.
Under the new scheme, farmers will have to pay a uniform premium of 1.5 percent for all rabi crops and 2 percent for all kharif crops and.
Pradhan Mantri Garib Kalyan Yojanay (PMGKY)
Launched: April 2015
Objective: Implement the pro-poor welfare schemes in more effective way and reaches out to more poor population across the country.
Garib Kalyan Yojana is a Poverty Alleviation Scheme, which is primarily a work shop that you can pay and attend. Most relevant, the effort of the campaign and workshop is to motive and appraise the member of parliaments to help them effectively implement the government run schemes for the welfare of poor in the country.
Pradhan Mantri Ujjwala Yojana
Launched: 1 May 2016
Objective: To distribute free LPG connections to the women belonging to 5 Crore BPL families across the country.
The scheme will cover 3.5 Crore more BPL families in the next two years. Furthermore, The scheme provides a financial support of Rs 1600 for each LPG connection to the BPL households.
This is the first ever welfare scheme by the Ministry of Petroleum and Natural Gas which would benefit crores of women belonging to the poorest households.
So these are some of the important yojanas introduced over the last 3 years which everyone needs to know. For more news and updates feel free to explore our site.