All About Government Schemes

Social welfare and social security programmes for Indian citizens are run by the Government of India. These programmes are paid for by the central government, the state governments, or both. “Central sector schemes” (CS) are programmes that are fully paid for by the central government. “Centrally sponsored schemes” (CS) are programmes that are mostly paid for by the centre but run by the states (CSS). There are 740 central sector (CS) schemes and 65 (+7+) centrally sponsored schemes in the Union budget of India for 2022. (CSSs).

Government Schemes in india

In India, the government starts government schemes to improve the social and economic well-being of the people who live there.

These schemes are a big part of how India solves many of its social and economic problems, so every concerned citizen needs to know about them.

The Finance Minister of India released the Union Budget 2021-22 and made new government programme announcements on February 1, 2021. As part of the PM Garib Kalyan Yojana, a package of aid worth Rs 1.70 lakh crore was announced in 2020 to help with the financial problems caused by the COVID-19 outbreak. To deal with the effects of the coronavirus this year, the government has announced the Rs. 27,100,000,000 Atma Nirbhar package.

Some Latest Indian government Schemes 

Here is a list of recent government programmes that have been launched in different areas or that have been in the news for their changes and expansions:

Important Schemes

Schemes

Pradhan Mantri Jan Dhan Yojana (PMJDY)

In his Independence Day speech on August 15, 2014, the Hon’ble Prime Minister announced the Pradhan Mantri Jan Dhan Yojana as the National Mission on Financial Inclusion. The goal of this programme is to make sure that all households in the country are financially included by giving everyone access to banking services. Under this, someone who doesn’t have a savings account can open one without having to have a minimum balance. They can also open a small account if they self-certify that they don’t have any of the official documents needed to open a savings account.

Through financial literacy programmes, PMJDY makes it easy for people who don’t have bank accounts to use banking services and learn about financial products. They also get a RuPay debit card with an accident insurance cover of Rs. 2 lakh and access to an overdraft facility after six months of good account management or a good credit history. Also, through the Prime Minister’s Social Security Schemes, which were started by the Hon’ble Prime Minister on May 9, 2015, all eligible account holders can get personal accident insurance coverage through their bank accounts under Pradhan Mantri Suraksha Bima Yojana, life insurance coverage under Pradhan Mantri Jeevan Jyoti Bima Yojana, and a guaranteed minimum pension to subscribers under Atal Pension Yojana.

PMJDY was made to be a mission that was bold, new, and ambitious. The fact that 28.70 crore (66.69%) of PMJDY accounts are in rural areas and 23.87 crore (over 55.47%) of PMJDY account holders are women shows that this is for everyone.

Over time, more money has been put into PMJDY accounts. As of August 18, 2021, there are Rs. 1,462,307,100 in PMJDY accounts. From Rs. 1,064 in March 2015 to Rs. 3,397 in August 2021, the average deposit per account has more than tripled.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

The PMJJBY is open to people between the ages of 18 and 50 who have a bank account and agree to join or set up auto-debit. Aadhar is the main form of identification for a bank account. The Rs. 2 lakh life cover is valid for one year, from June 1 to May 31, and it can be renewed. This scheme covers a risk of Rs. 2 lakh if the insured person dies for any reason. The premium is Rs. 330 per year, and it will be taken out of the subscriber’s bank account in one payment, based on his choice, on or before May 31 of each year of coverage under the scheme. The Life Insurance Corporation and any other life insurance companies that are willing to offer the same product on the same terms and work with banks to do so are part of the scheme. As of April 30, 2022, more than 12.77 crore people had signed up for PMJJBY.

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

People between the ages of 18 and 70 who have a bank account and agree to join or set up auto-debit by May 31st will be covered from June 1st to May 31st of the following year. This is an annual renewal. Aadhar would be the main way to prove your identity for a bank account. Under the scheme, accidental death and full disability are covered for Rs. 2 lakh, and partial disability is covered for Rs. 1 lakh. The annual premium of Rs.12 will be taken from the account holder’s bank account in one payment through an “auto-debit” feature. The scheme is being offered by Public Sector General Insurance Companies or any other General Insurance Company that is willing to offer the product on the same terms, get the necessary approvals, and work with banks to do so. As of April 30, 2022, more than 28.37 crore people had signed up for PMSBY.

Conclusion

They are started so that people can make a better living and feel safe so that they can live a better life. Each plan is made to help people in some way. Some plans give financial security, while others try to help the economy as a whole.