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The Ministry of Agriculture and Farmers’ Welfare has launched the Sahakar Mitra Scheme, a Summer Internship Program (SIP). The Scheme on Internship Program is another name for it. The project is being operated by the National Cooperative Development Corporation (NCDC), which aims to assist both cooperatives and young professionals (interns).
Sahakar Mitra scheme
The “SAHKAR MITRA Scheme on Internship Program” (SIP) is an arrangement under which NCDC will provide young professionals with short-term (not more than four months) opportunities to gain learning experience by applying skills and knowledge in an organisational context to help them advance their careers.
It is an internship programme for students and young professionals interested in gaining work-related learning experience in the NCDC. These interns will have the opportunity to provide innovative solutions to the cooperative sector, which will benefit both the interns and the cooperatives.
The Ministry of Agriculture and Farmers’ Welfare has launched the Sahakar Mitra Scheme on Internship Program (SIP). The National Cooperative Development Corporation (NCDC) has launched a programme for young professionals. It is anticipated that it will be beneficial to both cooperatives and young professionals.
The programme supports Prime Minister Narendra Modi’s call for Atmanirbhar Bharat (Self-Reliant India), which emphasises the importance of speaking up for one’s community. During the launch of the scheme, the Union Minister stated that NCDC has been proactive in providing innovative solutions to the cooperative sector.
The Sahakar Mitra scheme will assist cooperative institutions in gaining access to new and innovative ideas from young professionals, while interns will gain field experience and become self-sufficient. It would also provide an opportunity to professionals from academic institutions to develop leadership and entrepreneurial roles through cooperatives as Farmers Producers Organizations (FPO). In line with the AtmaNirbhar Bharat (Self Reliant India), it focuses on the importance of Vocal for Local. It will provide the young professionals an opportunity of practical exposure and learning from the working of NCDC and cooperatives as a paid intern.
Pradhan Mantri Vaya Vandana Yojana (PMVVY)
It is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above which was available from 4th May, 2017 to 31st March, 2020. The scheme is now extended up to 31st March, 2023 for a further period of three years beyond 31st March, 2020.
The scheme’s advantages
Following are the major benefits under the Pradhan Mantri Vaya Vandana Yojana (PMVVY):
Scheme provides initially an assured rate of return of 7.40 percent per annum for the year 2020-21 per annum and thereafter to be reset every year. For Financial Year 2021-22, the Scheme shall provide an assured pension of 7.40 percent p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2022.
Pension is payable at the end of each period, during the policy term of 10 years, as per the frequency of monthly/ quarterly/ half-yearly/ yearly as chosen by the pensioner at the time of purchase.
The scheme is exempted from GST.
On survival of the pensioner to the end of the policy term of 10 years, Purchase price along with final pension instalment shall be payable.
Loan upto 75 percent of Purchase Price shall be allowed after 3 policy years (to meet the liquidity needs). Loan interest shall be recovered from the pension instalments and loan to be recovered from claim proceeds.
The scheme also allows for premature exit for the treatment of any critical/ terminal illness of self or spouse. On such premature exit, 98 percent of the Purchase Price shall be refunded.
On death of the pensioner during the policy term of 10 years, the Purchase Price shall be paid to the beneficiary.
The ceiling of maximum pension is for a family as a whole, the family will comprise of pensioner, his/her spouse and dependants.
The shortfall owing to the difference between the interest guaranteed and the actual interest earned and the expenses relating to administration shall be subsidised by the Government of India and reimbursed to the Corporation.
Conclusion
The Indian government comes up with several schemes for the benefit and welfare of society and its citizens. These schemes are spread throughout the nation which are wither related to state schemes and central schemes, guided by the state or Central government accordingly. These government schemes pertain to the different sectors of the society and different areas like finance schemes, health facility schemes, electricity schemes, employment schemes, waste management schemes, education schemes etc. These schemes help weaker sections of the society to self sustain their daily living.
