Latest Schemes/Policy Launched

1. Pradhan Mantri Kaushal Vikas Yojana – The Union Cabinet allocated Rs. 12,000 crore rupees to Pradhan Mantri Kaushal Vikas Yojana (PMKVY). PMKVY is the flagship outcome-based skill training scheme of the Union Ministry of Skill Development & Entrepreneurship. It is skill certification and reward scheme.

Key points –

• Objective of the scheme is to enable and mobilize a large number of Indian youth to take up outcome based skill training and become employable and earn their livelihood.
• Under the scheme, trainees who are successfully trained, assessed and certified in skill courses run by affiliated training providers will be provided with monetary reward.

2. PM Narendra Modi launches Smart city Mission Projects in Pune - Prime Minister Narendra Modi launched the ‘Smart City Mission’ involving 83 projects from 20 different cities in the country.

Key points –

• The Smart City Mission’ projects launched included 14 projects of Pune (Maharashtra) and 69 projects from 20 different shortlisted cities in the country to be implemented at a cost of 1,770 crore rupees.
• These projects are related to water supply projects, sewage treatment plants, solid waste management under Swachh Bharat Mission and development of green and open spaces under Atal Mission for Rejuvenation and Urban Transformation (AMRUT).
• It also includes housing projects for urban poor under Pradhan Mantri Awas Yojana (PMAY) and area development and technology based pan-city solutions under Smart Cities Mission.

3. Prime Minister launched Pradhan Mantri Ujjwala Yojana at Ballia - Prime Minister Narendra Modi launched the Pradhan Mantri Ujjwala Yojana (PMUY) at Ballia, Uttar Pradesh. It will benefit the poor, especially the women.

Key points –

• The scheme aims to provide cooking gas connections to five crore below-poverty-line beneficiaries over the next three years.
• PM Ujjwala Yojana will provide 5 crore LPG connections to BPL Families
• FM had announced about the scheme in his 2016-17.Budget Speech with a budgetary provision of 2000 crore rupees.
• It will be implemented at an estimated cost of 8000 crore rupees over three years between April 2016 and March 2019 to cover 5 crore BPL households.

4. Interest Subvention Scheme for farmers - The Union Cabinet has approved the Interest Subvention Scheme for farmers for the year 2016-17. For this purpose Union Government has earmarked a sum of 18,276 Crore Rupees.

Key points –

The scheme will help farmers getting short term crop loan payable within one year up to 3 lakhs Rupees at only 4% per annum.

• Interest subvention for providing short term crop loan to farmers has been provided to Public Sector, Private Sector, Cooperative, Regional Rural banks and NABARD.
• Union Government will provide interest subvention of 5% per annum to all farmers for short term crop loan up to 1 year for loan upto 3 lakhs rupees for year 2016-17. Thus farmers will have to effectively pay only 4% as interest.
• In case they fail to repay loan in time they would be eligible for interest subvention of 2% as against 5% available above. Union Government will provide an interest subvention of 2% i.e an effective interest rate of 7% for loans upto 6 months to give relief to small and marginal farmers who borrow at 9% for the post-harvest storage of their produce. 

5. Ujjwal Discom Assurance Yojana (UDAY) - The Union Cabinet has approved proposal of extending the deadline for implementing the Ujjwal Discom Assurance Yojana (UDAY) by a year to March 31, 2017.

Key points

• With this decision, states shall take over 75% of ailing DISCOM (Power Distribution companies) debt as on 30th September, 2015 by 31st March, 2017 by issuing Bonds.
• It is considered as a significant step in realising the vision of proving 24X7 affordable and environment friendly Power for All.
• This intervention will also lower the interest burden of debt and allow states, which could not join UDAY earlier to put DISCOMs reforms on accelerated path.

About Ujjwal Discom Assurance Yojana (UDAY)

• The UDAY scheme aims at bringing ailing power discoms to a state of operational efficiency, with state governments taking over up to 75% of their respective debt and issuing sovereign bonds to pay back the lenders.
• So far, 19 states have given in principle approval to join the scheme, out of which 10 states have signed MoUs with the Union Government.

6. Union Cabinet approves National Apprenticeship Promotion Scheme - The Union Cabinet has approved a National Apprenticeship Promotion Scheme (NAPS) for providing apprenticeship training to over 50 lakh youngsters in order to create more jobs.

Key points –

• The Scheme has an outlay of 10,000 crore rupees and a target of training 50 lakh apprentices by 2019-20.
• It will be implemented by Director General of Training (DGT) under the aegis of Union Ministry of Skill Development and Entrepreneurship (MSDE).

7. Namami Gange projects for cleaning river Ganga launched - Union Government launched various projects under Namami Gange programme for cleaning of river Ganga and its tributaries from Haridwar, Uttarakand.

It was launched by Union Water Resources Minister Uma Bharti.

Key points -

• The Namami Gange Programme aims at cleaning the holy river and ensuring its unfettered flow. Union government has allocated Rs. 20,000 crore budget for it.
• Under it, projects such as modernization and redevelopment of Ghats, crematoriums and other development activities will be undertaken.

8. Union Government launches UJALA Scheme - The Union Government has launched National LED programme – Unnat Jyoti by Affordable LEDs for All (UJALA). It was launched by Union Minister for State (IC) for Power, Coal and Renewable Energy Piyush Goyal in Bhopal, Madhya Pradesh.

Key points –

• The UJALA scheme is being implemented by Energy Efficiency Services Limited (EESL), a joint venture of PSUs under the Union Ministry of Power.
• It is LED based Domestic Efficient Lighting Programme (DELP). Under it, 3 crore LED Bulbs will be distributed in Madhya Pradesh in the next 6 months.
• Under it, people of Madhya Pradesh will get subsidiesed 9W energy efficient LED bulbs by paying just 85 rupees per LED bulb. The scheme will help reduce electricity bills of consumers, contribute to the energy security of India and also help in environment protection. 

9. Andhra Pradesh Government launches Chandranna Bima Yojana - Andhra Pradesh Government has launched Chandranna Bima Yojana, an insurance scheme for the working class people. The scheme was launched by Chief Minister N Chandrababu Naidu on the occasion of May Day in Vijayawada.

10. Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) - Agriculture Irrigation Scheme.

Key points:

• Scheme aims at providing irrigation facilities to every village in the country by converging ongoing irrigation schemes implemented by various ministries.
• Budgetary allocation: 1,000 crore rupees for fiscal year 2015-16.
• Funding Pattern: Centre- States will be 75: 25 per cent. In case of north-eastern region and hilly states it will be 90:10.

11. Sukanya Samriddhi Yojana: It is a small deposit scheme for the girl child.

Key points of the scheme –

• In one family, a maximum of two accounts can be opened for two girl children. The account can be transferred anywhere in India from one Post office/Bank to another.
• Age Limit: The upper age limit of the girl child for opening this account is 10 years. The govt. has given a relaxation of one year in the upper age limit for those opening accounts till December 1, 2015.
• Documents required - 1. Birth Certificate of the girl child. 2. Address proof. 3. Identity proof.
• Minimum & Maximum deposit: The minimum deposit under the scheme is Rs. 1000/-. The maximum deposit is Rs. 1.5 lakhs. There is no limit on the number of investments one can make in an account either in a month or in a year.
• Interest rate: The government will announce the interest rate of the scheme every year. However, the government of India has increased the rate of interest from 9.1% (2014-15) to 9.2% (2015-16) for this financial year.
• Maturity period: The maturity period of the scheme is 21 years from the date of account opening, though deposits need to be made only for the first 14 years.
• The minimum lock-in in period under the Sukanya Samriddhi Yojana is 11 years.

12. Pradhan Mantri Kaushal Vikas Yojana (PMKVY):

• The scheme aims to impart skill training to youth with focus on first time entrants to the labour market and class 10 and class 12 drop outs.
• The scheme will be implemented by the Union Ministry of Skill Development and Entrepreneurship through the National Skill Development Corporation (NSDC).
• It will cover 24 lakh persons and skill training would be based on the National Skill Qualification Framework (NSQF) and industry led standards

13. Bhagyashree scheme: It is girl child scheme was launched in Maharashtra. Bollywood actress Bhagyashree is the brand ambassador of the scheme.

Key points of the scheme:

1. The state government will deposit an amount of 21200 rupees in bank for a girl child born in a Below the Poverty Line (BPL) family.
2. The scheme aims at providing one 1 lakh rupees on maturity after the girl completes 18 years of age.
3. The scheme would be linked to the Beti Bachao Beti Padhao scheme of Union Government.

14. Rashtriya Avishkar Abhiyan (RAA): Former President of India Dr. APJ Abdul Kalam launched the Rashtriya Avishkar Abhiyan (RAA) in New Delhi. The abhiyan aims to inculcate a spirit of inquiry, creativity and love for Science and Mathematics in school children. Rashtriya Avishkar Abhiyan is a concept developed by the Ministry of Human Resource Development. RAA is an effort to take forward the Prime Minister Narednra Modi’s vision of Digital India, ‘Make in India’ and ‘Teach in India’.

15. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): It is a low premium insurance scheme which will link with the Pradhan Mantri Jhan Dhan Yojna.

Key points of the scheme:

• Eligibility: Minimum 18 years and maximum 50 years and have bank account are eligible for the scheme. If the account is opened before attaining the age of 50 years, the life cover would remain intact up to the age of 55 years, if premium is paid regularly.
• Premium - Rs.330 per year i.e. less than Rs.1 per day.
• Risk coverage - Rs.2 Lakh in case of death for any reason.
• The premium paid will be tax-free under section 80C and also the proceeds amount will get tax-exemption u/s 10(10D).

16. Atal Pension Yojana (APY): It is a scheme mainly for workers in unorganised sector. The scheme will be administered by the Pension Fund Regulatory and Development Authority (PFRDA) and replace the previous government's Swavalamban Yojana NPS Lite.

Key points of the scheme:

• The subscribers who will joined the scheme would receive the 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 contributions.
• Age limit: minimum 18 years and maximum age is 40 years.
• A subscriber can contribute for minimum period of 20 years or more and pension payment will start at the age of 60 years.
• The government of India has decided to co-contribute 50% of the subscriber's contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from 2015-16 to 2019-20, who join the NPS before 31st December, 2015 and who are not income tax payers.

17. Pradhan Mantri Suraksha Bima Yojana (PMSBY): It is an insurance scheme which covers death or disablement of the policyholder caused due to accident or accidental injuries.

Key points of the scheme:

• Age limit: Minimum 18 yrs and maximum 70 years.
• The scheme will be a one year cover, renewable from year to year and would be administered through the Public Sector General Insurance Companies in collaboration with Banks.
• Risk coverage: Rs. 2 Lakh and for partial disability cover of Rs. 1 Lakh.
• Premium: Rs.12 per annum. The premium will be directly auto-debited by the bank from the subscribers' account.

18. Kisan Vikas Patra – Saving scheme relaunched by government of India.

Key points –

• Money will be doubles in 8 years 4 months (100 months). Thus the applicable interest rate is 8.7%
• KVP will be available in denominations of Rs.1,000, Rs. 5,000, Rs. 10,000, and Rs. 50,000.
• There will be no upper ceiling on investment.
• Minimum lock-in period is 2 years and 6 months.
• KVP can be encashed in eight equal monthly installments after the lock-in period.
• No KYC norms would be applicable at the time of purchase of KVP, PAN details will not be required.

19. Public Provident Fund (PPF) – Saving scheme.

Key points –

• An individual can open account with Rs. 100/- but has to deposit minimum of Rs. 500/- in a financial year and maximum Rs.1.5 lakh.
• Maturity period is 15 years but the same can be extended within one year of maturity for further 5 years and so on.
• Interest rates - 8.70% per annum (compounded yearly).
• Account can be opened by cash/cheque and In case of cheque, the date of realization of cheque in Govt. account shall be date of opening of account.