Top 5 Pradhan Mantri Yojana
The Pradhan Mantri Jan Dhan Yojana (PMJDY)
Pradhan Mantri Jan Dhan Yojana (PMJDY) is a financial inclusion scheme launched by the Government of India in August 2014 with the objective of providing access to financial services to all households in the country. The scheme aims to ensure that every individual has a bank account and access to credit, insurance, and pension facilities.
The PMJDY scheme has been designed to provide easy and affordable access to banking services to the masses, especially the poor and the marginalized sections of the society. The scheme provides a RuPay debit card, which enables account holders to withdraw cash from ATMs and make payments for goods and services. Additionally, the scheme also provides an overdraft facility of up to Rs. 10,000 to account holders after a satisfactory operation of their account for a period of 6 months.
The key features of the PMJDY scheme are as follows:
- No minimum balance requirement: There is no minimum balance requirement for opening a PMJDY account. However, if the account holder wishes to apply for an overdraft facility, they must maintain a satisfactory balance in their account.
- Insurance coverage: PMJDY account holders are eligible for accidental insurance coverage of up to Rs. 2 lakhs and life insurance coverage of up to Rs. 30,000.
- Interest on deposits: PMJDY account holders earn interest on their deposits, which is credited to their account quarterly.
- Direct Benefit Transfer (DBT): The PMJDY scheme has been linked to various government schemes, including the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and the LPG subsidy scheme, to enable direct transfer of benefits to the beneficiary’s account.
- Mobile banking: PMJDY account holders can access banking services through their mobile phones, including balance enquiry, mini statement, and fund transfer.
- Financial literacy: The scheme aims to promote financial literacy among the masses, especially those living in rural areas, by organizing financial literacy camps and workshops.
Overall, the PMJDY scheme has been successful in promoting financial inclusion in the country. As of March 2021, over 42 crore bank accounts have been opened under the scheme, with a total balance of over Rs. 1.4 lakh crore. The scheme has also played a significant role in enabling direct transfer of benefits to the beneficiaries of various government schemes.
Pradhan Mantri Fasal Bima Yojana (PMFBY)
The Indian government introduced the Pradhan Mantri Fasal Bima Yojana (PMFBY) crop insurance program in 2016. The objective of the scheme is to provide financial support to farmers in case of crop loss due to natural calamities, pests, and diseases. The scheme aims to provide comprehensive insurance coverage to farmers at an affordable premium rate and ensure timely settlement of claims.
Pradhan Mantri Fasal Bima Yojana Key features:
- Coverage: The scheme provides coverage to all farmers, including sharecroppers, tenant farmers, and those who have taken loans for agricultural activities.
- Premium: The premium rates under PMFBY are very low and are fixed at 2% of the sum insured for Kharif crops, 1.5% for Rabi crops, and 5% for horticulture crops.
- Sum Insured: The sum insured under PMFBY is based on the scale of finance determined by the district-level technical committee.
- Crop Loss Assessment: The crop loss assessment is done through the use of modern technology such as smartphones, GPS, drones, and satellite imagery. This ensures a speedy and accurate assessment of crop losses.
- Claim Settlement: The claims under PMFBY are settled within two months of crop loss assessment. The payment is made directly to the bank account of the farmer.
- Premium Subsidy: The government provides a premium subsidy to farmers under PMFBY. The subsidy is fixed at 90% for farmers in the North-Eastern states and 50% for farmers in other states.
- Eligibility: All farmers who have taken crop loans for notified crops are eligible for the scheme.
Benefits of Pradhan Mantri Fasal Bima Yojana
- Financial Security: PMFBY provides financial security to farmers in case of crop loss due to natural calamities, pests, and diseases.
- Affordable Premium: The premium rates under PMFBY are very low, making it affordable for farmers.
- Timely Settlement of Claims: The use of modern technology for crop loss assessment ensures timely settlement of claims.
- Increased Confidence: PMFBY has increased the confidence of farmers in the crop insurance system.
- Risk Management: PMFBY helps farmers in managing the risk associated with crop loss due to natural calamities, pests, and diseases.
In summary, the Pradhan Mantri Fasal Bima Yojana (PMFBY) is a comprehensive crop insurance program introduced by the Government of India to help farmers financially in the event that their crops are lost due to natural disasters, pests, or diseases.
The scheme provides affordable insurance coverage to farmers and ensures timely settlement of claims. The use of modern technology for crop loss assessment has made the scheme more efficient and effective in providing financial security to farmers.
Pradhan Mantri Awas Yojana (PMAY)
Pradhan Mantri Awas Yojana (PMAY) is a government initiative launched in 2015 to provide affordable housing to the economically weaker sections (EWS) and low-income groups (LIG) in urban and rural areas of India. The scheme aims to provide housing for all by 2022, and it is divided into two categories – urban and rural.
Key features of the Pradhan Mantri Awas Yojana:
- Eligibility: The scheme provides housing benefits to the economically weaker sections (EWS), low-income groups (LIG), and middle-income groups (MIG). The eligibility criteria for each category differ based on their annual income.
- Subsidy: The government provides a subsidy of up to 6.5% on the interest rate on home loans for EWS and LIG categories. Under the MIG category, the subsidy amount ranges from 3% to 4%.
- Home Loan: The scheme provides financial assistance to beneficiaries to purchase, construct, or renovate their homes. Home loans under PMAY are available for a maximum tenure of 20 years.
- Carpet Area: The scheme provides housing benefits based on the carpet area of the house. For EWS, the carpet area cannot exceed 30 sq.m, while for LIG, it is 60 sq.m. The carpet area limit for MIG-1 is 90 sq.m and 110 sq.m for MIG-2.
- Women Empowerment: The scheme promotes women’s empowerment by giving preference to women applicants or co-applicants.
- Construction Technology: The scheme promotes the use of sustainable construction technology, which includes green buildings, eco-friendly materials, and renewable energy sources.
- Beneficiary Led Construction: The scheme promotes a beneficiary-led construction approach, which empowers beneficiaries to build their homes based on their preferences and requirements.
Benefits of Pradhan Mantri Awas Yojana:
- Affordable Housing: PMAY provides affordable housing to the economically weaker sections and low-income groups.
- Subsidized Interest Rate: The scheme provides a subsidy of up to 6.5% on the interest rate on home loans for EWS and LIG categories.
- Women Empowerment: The scheme promotes women’s empowerment by giving preference to women applicants or co-applicants.
- Sustainable Construction Technology: PMAY promotes the use of sustainable construction technology, which includes green buildings, eco-friendly materials, and renewable energy sources.
- Job Creation: The scheme has the potential to create job opportunities in the construction sector.
In conclusion, Pradhan Mantri Awas Yojana (PMAY) is a government initiative aimed at providing affordable housing to the economically weaker sections and low-income groups in urban and rural areas. The scheme provides housing benefits based on the carpet area of the house and provides a subsidy of up to 6.5% on the interest rate on home loans for EWS and LIG categories. The scheme has the potential to create job opportunities in the construction sector and promotes sustainable construction technology.
Ayushman Bharat Yojana
Ayushman Bharat Yojana, also known as Pradhan Mantri Jan Arogya Yojana (PMJAY), is a government-run health insurance scheme launched in 2018 to provide financial protection to poor and vulnerable families in India. The scheme aims to provide health coverage to more than 50 crore beneficiaries, making it the world’s largest government-funded health protection scheme.
Key features of Ayushman Bharat Yojana:
- Eligibility: The scheme provides health coverage to poor and vulnerable families who are identified as per the Socio-Economic and Caste Census (SECC) data.
- Health Coverage: Ayushman Bharat Yojana provides health coverage up to Rs. For secondary and tertiary hospitalization, a household will spend Rs. 5 lakh annually.
- Cashless Treatment: The scheme provides cashless treatment to beneficiaries at empaneled hospitals across India.
- Empaneled Hospitals: More than 23,000 hospitals are empaneled under the scheme, including both public and private hospitals.
- Chronic and serious diseases are included in the coverage for pre-existing conditions under the plan.
- Paperless: Ayushman Bharat Yojana is a paperless and cashless scheme, and beneficiaries can avail of treatment using their Aadhaar cards.
- Portability: The scheme is portable across the country, meaning beneficiaries can avail of treatment at any empaneled hospital across India.
Benefits of Ayushman Bharat Yojana:
- Financial Protection: Ayushman Bharat Yojana provides financial protection to poor and vulnerable families by providing health coverage of up to For secondary and tertiary hospitalization, a household will spend Rs. 5 lakh annually.
- Access to Healthcare: The scheme provides access to healthcare services to those who previously could not afford it.
- Comprehensive Coverage: The scheme covers a wide range of illnesses and pre-existing diseases, including chronic and critical diseases.
- Empaneled Hospitals: The scheme has a large network of empaneled hospitals, including both public and private hospitals, providing beneficiaries with a wide range of treatment options.
- Portability: The scheme is portable across the country, meaning beneficiaries can avail of treatment at any empaneled hospital across India.
- Ease of Access: The scheme is paperless and cashless, making it easier for beneficiaries to avail of treatment using their Aadhaar cards.
In conclusion, Ayushman Bharat Yojana is a government-run health insurance scheme aimed at providing financial protection to poor and vulnerable families in India. The scheme provides health coverage of up to Rs. 5 lakh per family per year for secondary and tertiary hospitalization and covers pre-existing diseases and illnesses. The scheme is portable across the country, has a large network of empaneled hospitals, and is paperless and cashless, making it easier for beneficiaries to access healthcare services.
PM Ujjwala Yojana
Ujjwala Yojana is a flagship scheme of the Indian government launched in 2016 to provide clean cooking fuel to poor households in India. The scheme aims to promote the use of LPG (liquefied petroleum gas) as a clean cooking fuel and reduce the health hazards associated with traditional cooking fuels such as wood, coal, and kerosene.
The Ujjwala Yojana provides free LPG connections to poor households identified based on Socio-Economic Caste Census (SECC) 2011 data. The program focuses on women from low-income households since they are thought to be the main consumers of traditional cooking fuels. The scheme provides a financial assistance of Rs. 1,600 to each eligible household to cover the cost of a new LPG connection, a gas stove, and a regulator. The cost of the first refill is also borne by the government.
The Ujjwala Yojana has several benefits. First and foremost, it promotes the use of clean cooking fuel and reduces the health hazards associated with traditional cooking fuels. According to the World Health Organization (WHO), exposure to smoke from traditional cooking fuels is a leading cause of indoor air pollution and responsible for several respiratory diseases. The use of LPG as a cooking fuel is expected to reduce indoor air pollution and improve the health of women and children.
- Second, the Ujjwala Yojana is expected to reduce the time and effort required to collect firewood and prepare traditional cooking fuels. This will provide women with more time to engage in income-generating activities or other productive work.
- Third, the Ujjwala Yojana is expected to reduce the import bill of the country as India is heavily dependent on imports to meet its LPG requirements. The scheme is expected to increase the consumption of LPG and reduce the dependence on traditional cooking fuels.
- Finally, the Ujjwala Yojana is expected to generate employment opportunities in the LPG distribution chain. The scheme has created job opportunities for women as LPG distributors, which has improved their economic status.
- Since its launch in 2016, the Ujjwala Yojana has been successful in providing clean cooking fuel to poor households in India. As of January 2022, over 10 crore LPG connections have been provided under the scheme. The scheme has also increased the LPG penetration rate in rural areas from 19% in 2014 to over 80% in 2021, which is a significant achievement.
- These the Top 5 Pradhan Mantri Yojana (PM) that Changes the India Look Forever and made a significant impact on the lives of millions of people living in India by providing financial assistance, insurance coverage, housing, sanitation facilities, skill development, and employment opportunities.
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