Budget Speech 2020 Live Updates: Finance Minister Nirmala Sitharaman has started presenting the second Union Budget of the Modi 2.0 government today. It is expected that the Modi government will announce some income tax relief for the salaried class in this Budget. Will the government be able to revive growth with Union Budget 2020?

Sitharaman: Shortage of qualified doctors, will attach med colleges to hospitals

Nirmala Sitharaman: There is a shortage of qualified medical doctors both general practitioners and specialists; it is proposed to attach a medical college to a district hospital in PPP mode; details of the scheme to be worked out soon.

Sitharaman: Medical devices tax will be used to set up hospitals

Nirmala Sitharaman: Proceeds from taxes on medical devices would be used to support setting up of hospitals. Viability gap funding for setting up hospitals in those districts with no empanelled hospitals under Ayushman Bharat.

Sitharaman: Rs 12,300 crore for Swachh Bharat Mission

Nirmala Sitharaman: Allocation of Rs 12,300 crores for Swachh Bharat Mission for year 2020-21.

Sitharaman: Agri credit target at Rs 15 lakh cr for FY21

Nirmala Sitharaman: Agri credit target set up at Rs 15 lakh cr for Financial Year 2021. Horticulture with 311 MT exceeds production of food grains.

Sitharaman announces Rs 2.83 lakh crore for agri sector

Nirmala Sitharaman: For sector comprising agriculture, allied activities, irrigation and rural development, an allocation of Rs 2.83 lakh crores has been made for 2020-21 

Indian Railways will set up Kisan Rail to move perishable goods: Sitharaman

Nirmala Sitharaman: To build a seamless national cold supply chain for perishables, Indian Railways will set up Kisan Rail through PPP model so that perishable goods can be transported quickly. Krishi Udaan will be launched by MoCA on international and national routes.

Sitharaman: Budget 2020 is to boost the income of people

Nirmala Sitharaman: Budget 2020 is to boost the income of people and enhance their purchasing power.

Sitharaman: India uplifted 271 million people out of poverty

Nirmala Sitharaman: India uplifted 271 million people out of poverty. This Budget has been woven around around 3 prominent themes, aspirational India, economic development and caring society.

India is now 5th largest economy in world: Sitharaman

Nirmala Sitharaman: India is now 5th largest economy in world. Central Govt's debt has reduced to 48.7% of GDP from 52.2% in March 2014.

Nirmala Sitharaman says Budget is for boosting income

Nirmala Sitharaman says Budget is for boosting income, purchasing power of people. During 2014-19, govt brought paradigm shift in governance.

Sitharaman: We have added 16 lakh new taxpayers

Nirmala Sitharaman: We have added 16 lakh new taxpayers to the system.

source: https://www.indiatoday.in/

Indian Government Schemes 2015,2016 – Indian govt yojana . Here We are providing you the List of all Schemes , programmes and Projects which are launched by Indian government .

The ministries of the Government of India have come up with various schemes from time to tym. These schemes could be either Central, state specific or joint collaboration between the Centre and the states. They are detailed below.

List of Schemes and Their Important highlights

Mid-Day Meal Scheme 

The Midday Meal Scheme is a school meal programme of the government of India designed to improve the nutritional status of school-age children nationwide.[1] The programme supplies free lunches on working days for children in primary and upper primary classes in government, government aided, local body, Education Guarantee Scheme, and alternate innovative education centres, Madarsa and Maqtabs supported under Sarva Shiksha Abhiyan, and National Child Labour Project schools run by the ministry of labour.[2] Serving 120,000,000 children in over 1,265,000 schools and Education Guarantee Scheme centres, it is the largest such programme in the world.

Initiatives by the central government

The government of India initiated the National Programme of Nutritional Support to Primary Education (NP-NSPE) on 15 August 1995.[3] The objective of the scheme is to help improve the effectiveness of primary education by improving the nutritional status of primary school children. Initially, the scheme was implemented in 2,408 blocks of the country to provide food to students in classes one through five of government, government-aided and local body run schools. By 1997–98, the scheme had been implemented across the country. Under this programme, a cooked mid day meal with 300 calories and 12 grams of protein is provided to all children enrolled in classes one to five. In October 2007, the scheme included students in upper primary classes of six to eight in 3,479 educationally backward blocks,[13] and the name was changed from National Programme for Nutrition Support to Primary Education to National Programme of Mid Day Meals in Schools.[14]
Though cooked food was to be provided, most states (apart from those already providing cooked food) chose to provide "dry rations" to students. "Dry rations" refers to the provision of uncooked 3 kg of wheat or rice to children with 80% attendance.

Mid Day Meal Guidelines

• MDM Rules - 2015 with JS DO Letter dt. 08-10-2015 
• Guidelines on food Safety and Hygiene for school level kitchens under Mid-Day Meal (MDM) Scheme
• Revised guidelines for restructuring of the composition of Joint Review Mission (JRM) (Dt.02-02-2015)

Entitlements

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The nutritional guidelines for the minimum amount of food and calorie content per child per day are:^[2]

Rashtriya Krishi Vikas Yojana

The scheme is fundamentally a State Plan Scheme. This scheme looks to offer the States & Indian Territories independence to sketch up plans for augmented public venture in Agriculture through incorporating knowledge on local necessities, geographical/ weather conditions, obtainable natural assets/ technology & cropping model in their own districts for noteworthy boost of yield of Agriculture & its related sectors & ultimately maximize the profits of farmers in farming & its related divisions.

Eligibility

Funding

It was decided that ₹58.75 billion (US$870 million) would be released by the Central Government every year under the 11th Five Year Plan and ₹15 billion (US$220 million) would be allocated in 2007-08.During the first three years (2007–2010) of the implementation of the RKVY, an amount of ₹84,621 million (US$1.3 billion), which is roughly 33% of the total allocation under the RKVY of ₹250 billion (US$3.7 billion).
While presenting the 2011 Union Budget Of India, India's Finance Minister Pranab Mukherjee stated that the allocation under the RKVY had been increased from the existing ₹67.55 billion (US$1.0 billion) in 2010-11 to ₹78.6 billion (US$1.2 billion) for the year 2011-12.

In an attempt to improve the agricultural productivity, the government of India has come up with a new scheme, the Pradhan Mantri Krishi Sinchai Yojana (PMKSY). According to news reports, the Cabinet Committee on Economic Affairs (CCEA), which is chaired by Prime Minister Narendra Modi, finalised the details of the scheme.
Indian Finance Minister Arun Jaitley said that the cabinet has “decided that in 5 years, INR 50,000 crore from the central budget would be utilised for the Pradhan Mantri Krishi Sinchai Yojana. States’ share will be over and above this”.

The money shall be spent entirely towards improving farm yields and productivity, he said. The spending target, under the scheme, for the current financial year is about INR 5300 crore. This is almost twice the corpus set aside for any agricultural irrigation scheme in earlier budgets. Over and above the central government’s allocation, states shall add their funds to the scheme.

If the scheme turns out to be a success, economists and rural managers believe that the crop production could witness a manifold growth.
Details of the Pradhan Mantri Krishi Sinchai Yojana
The major objective of PMKSY is to achieve convergence of investments in irrigation at the field level, expand cultivable area under assured irrigation, improve on-farm water use efficiency to reduce wastage of water, enhance the adoption of precision-irrigation and other water saving technologies (More crop per drop), enhance recharge of aquifers and introduce sustainable water conservation practices by exploring the feasibility of reusing treated municipal waste water for peri-urban agriculture and attract greater private investment in precision irrigation system.

According to current estimates, out of the 142 million hectares of agricultural land in India, only about 45 per cent has any arrangement for artificial irrigation. The rest of the agricultural farm is dependent solely on rainfall for its water needs. A delay in rainfall or a failure spells disaster for the farmers and shortfall in crop is the subsequent worry faced by the people. The government of India estimates that by spending about INR 5300 crore this fiscal, an additional 6 lakh hectares of agricultural land can be brought under irrigation. Apart from this, 5 lakh hectares of land will also receive the benefits of drip irrigation as a result. Micro-irrigation projects (“Har Khet Ko Pani”) and end-to-end irrigation solutions will be the key focus of this scheme.

The scheme shall also assume responsibility for various irrigation projects that were poorly implemented by previous governments despite adequacy of funds. These projects shall be improved based on strict quality guidelines. About 1,300 watershed projects that have remained in limbo shall now be completed.
According to news reports, the Finance Minister said, “The major objective of the PMKSY is to achieve convergence of investments in irrigation at the field level, expand cultivable area under assured irrigation, improve on-farm water use efficiency to reduce wastage of water, enhance adoption of precision-irrigation and other water-saving technologies”.

Programme Structure

The planning and implementation of the Pradhan Mantri Krishi Sinchai Yojana has been decentralised and the states shall now draw district-level plans for its successful execution.
The long-term adherence to these District Irrigation Plans (DIP) and State Irrigation Plans (SIP) will be supervised by a National Steering Committee (NSC) with representation from the various ministries involved and shall be monitored by the Union Ministers. The Prime Minister himself shall chair the committee.
The implementation of the scheme shall be overseen by a National Executive Committee (NEC), which shall be chaired by the Vice-Chairman of the NITI Aayog.
PMKSY and Pro-farmer Schemes
The Pradhan Mantri Krishi Sinchai Yojana is part of a group of pro-farmer measures that the NDA government endeavours to implement. Earlier, the Cabinet led by Modi agreed on various amendments to the Land Acquisition Act of 2013, which are likely to benefit those farmers whose lands are acquired by the central government for implementation of various projects. Apart from these, the NDA government has launched a number of social security schemes (pension, insurance schemes etc.) targeted at improving the lot of the poor masses in the country, with specific emphasis on the rural poor. Earlier this year, the government had launched the Paramparagat Krishi Vikas Yojana – a scheme to support organic farming endeavours.

Introduction:

With a view to redressing the situation, Government have launched the Pradhan Mantri Gram Sadak Yojana on 25th December, 2000 to provide all-weather access to unconnected habitations. The Pradhan Mantri Gram Sadak Yojana (PMGSY) is a 100% Centrally Sponsored Scheme. 50% of the Cess on High Speed Diesel (HSD) is earmarked for this Programme.

Programme Objectives

AIM

The aim was to provide roads to all villages

1. with a population of 1000 persons and above by 2003
2. with a population of 500 persons and above by 2007
3. in hill states, tribal and desert area villages with a population of 500 persons and above by 2003
4. in hill states, tribal and desert area villages with a population of 250 persons and above by 2007.

Management:

The PMGSY is managed by the National Rural Roads Development Agency (NRRDA) , headed by a Director-General. The following have been Directors-General of the NRRDA.

1. DR J. Sridhar Sharma (2000-2002)
2. Subrahmanyam Vijay Kumar (2002–05)
3. J. K Mohapatra (2005–09)
4. Dr P.K. Anand (2009-11)
5. Mr. Adarsh chauhan(2011- )

Objectives of Pradhan Mantri Ujjwala Yojana

Ujjwala Yojana is aimed at providing 5 Crore LPG connections in the name of women in BPL (Below Poverty Line) households across the country. The government has set a target of 5 Crore LPG connections to be distributed to the BPL households across the country under the scheme. Some of the objectives of the scheme are

1. Empowering women and protecting their health.
2. Reducing the serious health hazards associated with cooking based on fossil fuel.
3. Reducing the number of deaths in India due to unclean cooking fuel.
4. Preventing young children from significant number of acute respiratory illnesses caused due to indoor air pollution by burning the fossil fuel.

How to Apply for Pradhan Mantri Ujjwala Yojana

The eligible women candidates from BPL families can apply for the scheme by filling up the Ujjwala Yojana KYC application form (in prescribed format).

The interested candidates require to fill the 2 page application form and attach required documents along with the form. The basic details such as Name, Contact details, Jan Dhan / Bank account number, Aadhar card number etc are required to fill in the application form. The applicants also need to mention their requirement of cylinder type i.e. 14.2KG or 5KG.

KYC Application forms for Ujjwala Yojana can also be downloaded online and submitted to nearest LPG outlet along with required documents.

Eligibility for PM Ujjwala Yojana

The identification of eligible BPL families will be made on the basis of SECC-2011 data. However below is the basic eligibility criteria for the scheme.

• The applicant’s name should be in the list of SECC-2011 data.
• The applicant should be a women above the age of 18 years.
• The women applicant should belong to BPL (Below Poverty Line).
• The women applicant should have a saving bank account in any nationalized bank across the country.
• The applicant’s household should not already own a LPG connection in anyone’s name.

The detailed eligibility criteria of the Ujjwala Yojana is available here.

List of Required Documents for Ujjwala Yojana Application

Below is the list of mandatory documents to be attached along with the filled application form.

1. BPL Certificate Authorized by Panchayat Pradhan / Municipality Chairman
2. BPL Ration Card
3. One Photo ID (Aadhar Card or Voter ID Card)
4. One Recent Passport Size Photograph

View the complete list of documents for Ujjwala Yojana application which can be attached on the basis of requirement.

Quick Details About Pradhan Mantri Ujjwala Yojana

Pradhan MantriJeevanJyotiBimaYojana (PMJJBY) is a one year life insurance scheme, renewable from year to year, offering coverage for death due to any reason and is available to people in the age group of 18 to 50 years( life cover upto age 55) having a savings bank account who give their consent to join and enable auto-debit.

Eligibility:

Available to people in the age group of 18 to 50 and having a bank account. People who join the scheme before completing 50 years can, however, continue to have the risk of life cover up to the age of 55 years subject to payment of premium.

Premium: 

 Rs.330 per annum.  It will be auto-debited in one instalment.

Payment Mode:  

The payment of premium will be directly auto-debited by the bank from the subscribers account.

Risk Coverage: 

Rs.2 Lakh in case of death for any reason.

Terms of Risk Coverage: 

A person has to opt for the scheme every year.  He can also prefer to give a long-term option of continuing, in which case his account will be auto-debited every year by the bank.

Who will implement this Scheme?: 

The scheme will be offered by Life Insurance Corporation and all other life insurers who are willing to join the scheme and tie-up with banks for this purpose.

Application Form

The application form can be downloaded from http://www.jansuraksha.gov.in/FORMS-PMJJBY.aspx. The forms are available in different languages – English, Hindi, Gujarati, Bangla, Kannada, Odia, Marathi, Telugu and Tamil.

Click here - Consent-cum-Declaration Form

Click here - Claim Form

Government Contribution:

(i)       Various other Ministries can co-contribute premium for various categories of their beneficiaries out of their budget or out of Public Welfare Fund created in this budget out of unclaimed money.  This will be decided separately during the year.

(ii)     Common Publicity Expenditure will be borne by Government.

Objectives

Objectives are

1.Prevent gender biased sex selective elimination

2.Ensure survival & protection of the girl child

3.Ensure education of the girl child

Strategies 

Strategies are

1. Implement a sustained Social Mobilization and Communication Campaign to create equal value for the girl child & promote her education.
2. Place the issue of decline in CSR/SRB in public discourse, improvement of which would be an indicator for good governance.
3. Focus on Gender Critical Districts and Cities low on CSR for intensive & integrated action.
4. Mobilize & Train Panchayati Raj Institutions/Urban local bodies/ Grassroot workers as catalysts for social change, in partnership with local community/women’s/youth groups.
5. Ensure service delivery structures/schemes & programmes are sufficiently responsive to issues of gender and children’s rights.
6. Enable Inter-sectoral and inter-institutional convergence at District/Block/Grassroot levels.

Sukanya Samridhi Yojana It is a part of India’s ‘Beti Bachao- Beti Padhao’ initiative(Girl Child Prosperity Account) 

Support

The Beti Bachao campaign is supported by numerous medical organizations in India, including the Indian Medical Association.

Effectiveness

The campaign has reported some success in parts of India. In 2009, it was reported that in Gujarat, rates of female births increased from 802 to 882 for every 1000 male births. Beti Bachao activities were credited with this improvement.

MUDRA Vision

To be an integrated financial and support services provider par excellence benchmarked with global best practices and standards for the bottom of the pyramid universe for their comprehensive economic and social development.

MUDRA Mission

To create an inclusive, sustainable and value based entrepreneurial culture, in collaboration with our partner institutions in achieving economic success and financial security.

MUDRA Purpose

Our basic purpose is to attain development in an inclusive and sustainable manner by supporting and promoting partner institutions and creating an ecosystem of growth for micro enterprises sector.

Advantage MUDRA: Formalizing the Informal

1. Apex Refinancer
2. MUDRA Architecture Indigenously Conceived for Indian context
3. Inclusion of Last Mile Financiers - a game changing idea
4. Help expand Access to finance for micro enterprises
5. Lower Cost of Finance
6. Credit plus Approach
7. Mass Entrepreneurship Development and Growth
8. Employment Generation, Higher GDP Growth

MUDRA Strategic Focus

Product – Innovative

Pricing – Lower than Prevailing

Processes – Efficient

Specialisation – Micro

Scale – India Unincorporated

Sustainability – of Stakeholders

Technology – The Game Changer

SRC: mudra.org.in

WHAT IS PRADHAN MANTRI JAN-DHAN YOJANA?

PMJDY is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/Savings & Deposit Accounts, Remittance, Credit, Insurance and Pension in an affordable manner.

• Frequently Asked Questions- External website that opens in a new window
• Progress Reports of PMJDY- External website that opens in a new window
• Write to share your inputs on PMJDY- External website that opens in a new window
• Right to Information (RTI)- External website that opens in a new window
• Who's Who- External website that opens in a new window

WHERE CAN I OPEN AN ACCOUNT UNDER THIS SCHEME?

Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet.

• Download Account Opening Form (Hindi- PDF file that opens in a new window ) (English- PDF file that opens in a new window )
• Do You Need Help? You can contact PMJDY Help Centres- External website that opens in a new window
• National Toll Free Nos: 1800 11 0001 and 1800 180 1111e 

What documents are required?

1. If Aadhaar Card/Aadhaar Number is available then no other documents is required. If address has changed, then a self certification of current address is sufficient.
2. If Aadhaar Card is not available, then any one of the following Officially Valid Documents (OVD) is required: Voter ID Card, Driving License, PAN Card, Passport & NREGA Card. If these documents also contain your address, it can serve both as "Proof of Identity and Address".
3. If a person does not have any of the "officially valid documents" mentioned above, but it is categorized as 'low risk' by the banks, then he/she can open a bank account by submitting any one of the following documents:
4. Identity Card with applicant's photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks and Public Financial Institutions;
5. Letter issued by a gazette officer, with a duly attested photograph of the person.

What are the direct/special benefits?

Special benefits attached to the scheme are:

1. Interest on deposit
2. Accidental insurance cover of Rs.1.00 lac
3. No minimum balance required. However, for withdrawal of money from any ATM with Rupay Card, some balance is advised to be kept in account.
4. Life insurance cover of Rs.30,000/-
5. Easy Transfer of money across India
6. Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
7. After satisfactory operation of the account for 6 months, an overdraft facility will be permitted
8. Access to Pension, insurance products
9. Accidental Insurance Cover, RuPay Debit Card must be used at least once in 45 days.
10. Overdraft facility up to Rs.5000/- is available in only one account per household, preferably lady of the household.

Sukanya Samriddhi Account (literally Girl Child Prosperity Account) in a Government of India backed saving scheme targeted at the parents of girl children. The scheme encourages parents to build a fund for the future education and marriage expenses for their female child.
The scheme was launched by Prime Minister Narendra Modi on 22 January 2015 as a part of the Beti Bachao, Beti Padhao campaign.

How to Open the Sukanya Samriddhi Account?

Guardian to open the account: The account can be opened only by parents or legal guardians for upto two girl children. In case of twins or triplets, an exemption will be made on production of a certificate from authorised medical institutions.

Age Eligibility:

A Sukanya Samriddhi account can be opened for a girl child till she attains the age of 10. The scheme started from 2 December, 2014. An initial grace period of one year has been announced for convenience. A girl child, who is born between 2 December, 2003 and 1 December, 2004, can open account by 1 December, 2015.

Account in the name of the beneficiary: Sukanya Samriddhi Scheme can only be opened in the name of the girl child. The depositor (guardian) will be an individual, who deposits amount in the account on behalf of the minor girl child.

One Girl One Account:

Only one account can be opened per girl child.Where to open Account: Sukanya Samriddhi account can be opened in Post Offices or authorised Banks (State Bank of India, Bank of Baroda, Punjab National Bank, Bank of India, Canara Bank, Andhra Bank, UCO Bank, and Allahabad Bank, to name the few).

What Are the Documents Required for Opening an Account?

Birth Certificate of the girl child.Address and photo identity proof (PAN Card, Voter ID, Aadhar Card) of the guardian.

More info on Sukanya Samriddhi Accounts:

• Rate of interest  8.6% Per Annum(w.e.f 1-4-2016),calculated on yearly basis ,Yearly compounded. 

• Minimum INR. 1000/-and Maximum INR. 1,50,000/- in a financial year. Subsequent deposit in multiple of INR 100/- Deposits can be made in lump-sum No limit on number of deposits either in a month or in a Financial year 

• A legal Guardian/Natural Guardian can open account in the name of Girl Child.

• A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different Girl children. 

• Account can be opened up to age of 10 years only from the date of birth. For initial operations of Scheme, one year grace has been given. With the grace, Girl child who is born between 2.12.2003 &1.12.2004 can open account up to1.12.2015.

• If minimum Rs 1000/- is not deposited in a financial year, account will become discontinued and can be revived with a penalty of Rs 50/- per year with minimum amount required for deposit for that year. 

• Partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial year can be taken after Account holder’s attaining age of 18 years.
• Account can be closed after completion of 21 years.

• Normal Premature closure will be allowed after completion of 18 years /provided that girl is married.

src:indiapost.gov.in, mapsofindia & wikipedia

Objective:

Pradhan Mantri Gramin Awaas Yojana (PMAY), previously Indira Awaas Yojana (IAY), is a social welfare flagship programme, created by the Indian Government, to provide housing for the rural poor in India. A similar scheme for urban poor was launched in 2015 asHousing for All by 2022. The broad purpose of the scheme is to provide financial assistance to some of the weakest sections of society for them to upgrade or construct a house of respectable quality for their personal living.The vision of the government is to replace all temporary (kutchcha) houses from Indian villages by 2017 

Eligibility Criteria:

Scheduled Castes/Scheduled Tribes, freed bonded labourers, minorities and non-SC/ST rural households in the BPL category, widows and next-of-kin to defence personnel/paramilitary forces killed in action (irrespective of their income criteria), ex-servicemen and retire Scheme.

Mission:

The Mission is being implemented during 2015-2022 and provides central assistance to Urban Local Bodies (ULBs) and other implementing agencies through States/UTs for:

In-situ Rehabilitation of existing slum dwellers using land as a resource through private participation

Credit Linked Subsidy

Affordable Housing in Partnership

Subsidy for beneficiary-led individual house construction/enhancement.

Credit linked subsidy component is being implemented as a Central Sector Scheme while other three components as Centrally Sponsored Scheme (CSS).
All statutory towns as per Census 2011 and towns notified subsequently would be eligible for coverage under the Mission.

Benefits to Women, SC/ST:

While the Pradhan Mantri Awas Yojana is clear about its goals – affordable housing for all by 2022, it does ensure that the benefits of the scheme are enjoyed by women, economically backward groups of Indian society and the Scheduled Castes and Scheduled Tribes. In an unprecedented move, the government has decided to protect the interests of neglected groups in the country. Transgenders and widows, members of the lower income groups and urban poor, and the Scheduled Castes and Scheduled Tribes shall be granted preference when they try to avail the affordable housing scheme. Apart from these groups members of society who often find themselves out of a home, seniors and differently-abled people shall also gain preference in allotment of houses. They shall also be able to choose a ground-floor house if need be. Apart from this, it is also mandatory that while registering to avail the benefits of the scheme, the beneficiaries must necessarily mention their mother or wife’s name.

How to Apply for PMAY?

The scheme has just being launched by the Prime Minister. Several housing schemes will be launched under the main scheme by several state governments. Once, the state governments will launch the schemes, the application forms will be made available to the desired applicants.
For further information on Pradhan Mantri Awas Yojana (PMAY), please log onto: www.mhupa.gov.in/pmay/index.htm

src:wikipedia, mhupa.gov.in & mapsofindia

Objective:

Atal Pension Yojana is a government-backed pension scheme in India targeted at the unorganised sector. It was originally mentioned in the 2015 Budget speech by Finance Minister Arun Jaitley in February 2015.[1] It was formally launched by Prime Minister Narendra Modi on 9 May in Kolkata.
In Atal Pension Yojana, for every contribution made to the pension fund, The Central Government would also co-contribute 50% of the total contribution or 1,000 (US$15) per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years.

Benefit of APY:  

Fixed pension for the subscribers ranging between Rs. 1000 to Rs. 5000, if he joins and contributes between the age of 18 years and 40 years. The contribution levels would vary and would be low if subscriber joins early and increase if he joins late.

Eligibility for APY:  

Atal Pension Yojana (APY) is open to all bank account holders who are not members of any statutory social security scheme. 

Age of joining and contribution period:

The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more.

Focus of APY:

Mainly targeted at unorganised sector workers.

APY Forms / Scheme Details / Circulars

APY Brochure

Atal Pension Yojana Training Manual

APY Presentation

APY Scheme Details

APY Subscriber Registration Form

APY Subscriber Registration Form - Swavalamban Yojana Subscribers.pdf

Enrolment and Subscriber Payment:

All bank account holders under the eligible category may join APY with auto-debit facility to accounts, leading to reduction in contribution collection charges.

Gross Enrollment Reported by Banks : 2,405,268 people have already registered for the scheme as on April 16, 2016.

Enrollment agencies:

All Points of Presence (Service Providers) and Aggregators under Swavalamban Scheme would enrol subscribers through architecture of National Pension System.  

Operational Framework of APY:

It is Government of India Scheme, which is administered by the Pension Fund Regulatory and Development Authority. The Institutional Architecture of NPS would be utilised to enrol subscribers under APY.

Funding of APY: 

Government would provide (i) fixed pension guarantee for the subscribers; (ii) would co-contribute 50% of the subscriber contribution or Rs. 1000 per annum, whichever is lower, to eligible subscribers; and (iii) would also reimburse the promotional and development activities including incentive to the contribution collection agencies to encourage people to join the APY.

Age of Joining, Contribution Levels, Fixed Monthly Pension and Return of Corpus to the nominee of subscribers

The Table of contribution levels, fixed monthly pension to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period is given below. For example, to get a fixed monthly pension between   Rs. 1,000 per month and Rs. 5,000 per month, the subscriber has to contribute on monthly basis between Rs. 42 and Rs. 210, if he joins at the age of 18 years. For the same fixed pension levels, the contribution would range between        Rs. 291 and Rs. 1,454, if the subscriber joins at the age of 40 years. 

src:npscra.nsdl.co.in ,wikipedia & PIB

Objective:

Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurancescheme in India. It was originally mentioned in the 2015 Budget speech by Finance MinisterArun Jaitley in February 2015.[1] It was formally launched by Prime Minister Narendra Modion 9 May in Kolkata.

Eligiblity Criteria:

Pradhan Mantri Suraksha Bima Yojana is available to people between 18 and 70 years of age with bank accounts.

It has an annual premium of 12 (18¢ US) excluding service tax, which is about 14% of the premium. The amount will be automatically debited from the account.

In case of accidental death or full disability, the payment to the nominee will be Rs. 2 lakh (US$3,000) and in case of partial Permanent disability Rs.1 lakh (US$1,500).

This scheme will be linked to the bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme. Most of these account had zero balance initially.

The government aims to reduce the number of such zero balance accounts by using this and related schemes.

PMSBY Forms | Application and Claim Forms:

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PMSBY Claim Form,Discharge Voucher and Claim Procedure -English 

PMSBY Claim Form,Discharge Voucher and Claim Procedure - Hindi 

Pradhan Mantri Suraksha Bima Yojana(PMSBY) Consent cum Declaration form - Hindi 

Pradhan Mantri Suraksha Bima Yojana(PMSBY) Consent cum Declaration form-English 

Pradhan Mantri Suraksha Bima Yojana(PMSBY) Rules & FAQs - English 

Termination of benefit cover:

In following cases the cover will be terminated and no benefit will be payable to the subcribers.

1. On attaining age 70 years or the age nearest birth day
2. At the time of renewal in subsequent years,due to insufficiency of balance to keep the insurance in force the account gets closed.
3. In case a subscriber is covered by more than one account and premium is paid by the subscriber intentionally, insurance cover will be restricted to one only and the premium shall be liable to be forfeited.
4. If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium, subject to conditions that are to be issued in future. During this period, the risk cover will be" suspended" and reinstatement of risk cover will be at the sole discretion of Insurance Company.

Pradhan Mantri Suraksha Bima Yojana Participating banks will deduct the premium amount in the same month when the auto debit option is given, preferably in May of every year, and remit the amount due to the Insurance Company in that month itself.

Results:

124,738,419 people i.e. 124 millions Indians have already enrolled for this scheme as of 2nd February, 2016.

src:wikipedia & uiic.co.in

Rules, Terms and Conditions for the Sukanya Samriddhi Yojana, SSY, Benefits of Sukanya Samriddhi Yojana, About SSY, Mode of payment of SSY scheme, eligibility criteria of SSY scheme, PM Narendra Modi Scheme, PM Modi Schemes

Scheme Details:

Sukanya Samriddhi Account (Girl Child Prosperity Account) is a special deposit account under the Sukanya Samriddhi Yojana (Girl child prosperity scheme) launched by the Prime Minister of India on 22 January 2015, with the stated aim of improving the welfare of female children in India.

Sukanya Samridhi Account Scheme is a small deposit scheme for girl child, as part of ‘”Beti Bachao ,Beti Padhao”’ campaign, which would fetch yearly interest rate of 9.1 per cent and provide income tax deduction Under section 80C of the Income Tax Act,1961.

benefits

One of the key benefits of the scheme is that it is quite affordable and offers one of the highest rates of interest. Currently it is set as 9.2% per year for Fy 2015-16 and also SSAY is under the Income tax Act 1961, section 80C.

Objective

Sukanya Samriddhi account is to ensure a bright future for girl children in India. This yojana is to facilitate them proper education and carefree marriage expenses.  The scheme has well been accepted by the masses in wake of the financial security and independence it would provide to the girl child as well as their parents and guardians.

Key Highlights of the Pradhan Mantri Atal Pension Yojana

Sukanya Samriddhi Yojana:  Key Pointers

Duration of Account: The account will remain operative until the child turns 21 years or till marriage of the girl child.

Features
-- Per girl child only single account is allowed.

-- Parents can open this account for maximum two girl child.

( In the event of birth of twin girls in 2nd birth or birth of 3 girl child's in 1st birth itself, this facility will be extended to third child Minimum deposit amount for this account is --1,000/- and maximum is 1,50,000/- per year. )

-- Money to be deposited for 14 years in this account.

-- Interest rate for this account is 9.2% per annum for FY 2015-16(it was 9.1% for 2014-15), calculated on yearly basis, Yearly compounded.

-- Interest rate is tied to 10 year Government of India Bond Yield, and will be 75 basis point higher than the respective year's bond yield.

-- Passbook facility is available with Sukanya Samriddhi account.

-- From FY 2015-16 the interest earned on account will be tax exempted. As per Finance Bill 2015-16.

Who can be ‘Guardian’ under this Scheme – In relation to a minor girl Child Guardian means

(i) either father or mother; and

(ii) where neither parent is alive or is incapable of acting, a person entitled under the law for the time being in force to have the care of the property of the minor.

Scheme Change Table

Who can open the account: A natural/ legal guardian on behalf of a girl child

Required documents for Create an Account :
-- Birth documents of girl child(Birth certificate)
-- Address proof [ Who is opening the account on child's behalf ]
-- Identity proof [ Who is opening the account on child's behalf ]
-- 3 Photos of parents and 3 photos of the child
-- Pan card and Aaadhar card copies of parents.
-- Eletricity Bill.

List of Banks:  List of Banks Authorized to Open account under Sukanya Samriddhi Yojana:

Allahabad Bank, Andhra Bank, Axis Bank, Bank of Baroda (BoB), Bank of India (BoI), Bank of Maharashtra (BoM), Canara Bank, Central Bank of India (CBI), Corporation Bank, Dena Bank, ICICI Bank, IDBI Bank, Indian Bank,  Indian Overseas Bank (IOB), Oriental Bank of Commerce (OBC), Punjab & Sind Bank (PSB), Punjab National Bank (PNB)
State Bank of Bikaner & Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of India (SBI), State Bank of Mysore (SBM), State Bank of Patiala (SBP), State Bank of Travancore (SBT), Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Bank, indian bank,

Sukanya Samriddhi Account Yojana calculator
This is one of the most asked question from our readers for this scheme. What would be my maturity amount If I invest Rs 1000 monthly for 14 years in Sukanya Samridhi? Well the answer to this question is not straight forward as the rate of interest will surely vary in the 21 years time frame. So assuming the current interest rate remains same for the next 21 years then you will get approximately rs 6,00,000 (6 Lakhs) as maturiy amount. There are some rumours running around that Rs 1,000 monthly will get you Rs 6 Lakhs so you will have to shell our Rs 12,000 annually to get Rs 6 Lakhs.

FAQ- For Sukanya Samriddhi Yojana

What are the documents required for opening of Sukanya Samriddhi Account Yojana?
This is one of the simplest types of accounts ever and thus opening an account under Sukanya Samriddhi Scheme would require very basic documents and the process if quite simple and easy.  Here is a list of documents that would be required to open Account:

Certificate of Birth of the Girl Child
Proof of Identity of the parent or legal guardian, whosoever is the depositor
Address proof of the parent or legal guardian, whosoever is the depositor

Can an existing saving account be converted to Sukanya Samriddhi Account Yojana?
NO, an existing saving account cannot be converted to Account and thus the applicant would have to open up a fresh account altogether.

Is Sukanya Samriddhi Account Yojana transferrable?
The account is completely transferrable to any place in India where the girl moves.  A proof of new residence may however be required for transferring the account.

Who can be the guardian of the girl child under SSA Yojana?
After the age of 10 years, the girl can herself operate the account.  There could be two possible caretaker or depositor of the account for the minor child (below ten years of age).

How many accounts can be opened in sukanya samriddhi account Yojana for a girl child?
One Girl One Account:  The scheme prohibits multiple accounts under the name of the same girl child.  A girl child can have only one account under her name.

Rate of Interest under Sukanya Samriddhi Account (SSA) Yojana
As per the scheme, the rate of interest as of now is 9.2% per annum for the FY 2015-16 initially it was 9.1%.

Where to contact for opening of account under this sukanya samriddhi account Yojana?
This scheme is available to all commercial banks and post offices and their branches, big or small, working throughout India.

Garib Kalyan Yojnaye

Rules, Terms and Conditions for the Garib Kalyan Yojnaye, Benefits of Garib Kalyan Yojnaye, About Garib Kalyan Yojnaye, Mode of payment of Garib Kalyan Yojnaye scheme, eligibility criteria of scheme, PM Narendra Modi Scheme, PM Modi Schemes

Scheme details

Titled ‘Garib Kalyan Yojnaye’ (Poverty Alleviation Schemes), this pay-and-attend workshop on 19 April is organised in association with Rambhau Mhalgi Prabodhini, a think tank having links to RSS.

Benefits

The workshop will cover a host of schemes conceived by the BJP government. There will be dedicated sessions on rural and urban development schemes. Besides, the Transport Minister Nitin Gadkari will deliver a presentation on Sansad Aadarsh Gram Yojna. Health Minister J. P. Nadda would explain MPLADS (Members of Parliament Local Area Development Scheme) to the MPs. External Affairs Minister Sushma Swaraj will focus on a macro level and sensitise MPs on the bigger development agenda. Modi will set the stage for the workshop with an inaugural speech and the party president, Amit Shah will conclude the session.If this workshop happens to be a success, BJP will host similar events for personal assistants of MPs.

Objective

The workshop 'Garib Kalyan Yojnaye: Its Effective Implementation and role of MP' will focus on the government's pro-poor welfare programmes and how to take them to the grassroots level.

MUDRA Bank Yojana , Rules, Terms and Conditions for the MUDRA Bank Yojana, Benefits of MUDRA Bank Yojana, About MUDRA Bank Yojana, Mode of payment of  Mudra Bank yojana scheme, eligibility criteria of scheme, PM Narendra Modi Scheme, PM Modi Schemes

Scheme Details

MUDRA Banks is one of the latest yojana launched by the Prime Minister of India Narendra Modi. This is a new scheme launched on 8th of April according to which the latest scheme is to look forward to the development of small entrepreneurs. This scheme is launched keeping in mind the areas where the normal banks are unable to reach. There are remote places in the country where people are unable to use the regular bank services like loans and credit cards.

This committee was suggested in the annual budget of India and was officially founded in the month of April. The committee will be targeting over 5 crore users who are unable to receive the correct financing in order to grow their business. The committee will be financing the users using the last mile agents.

Benefits:
The main of the present government is to empower the small micro business. This business will help grow the economy of the country. Small entrepreneurs when is helped to grow helps the economy to grow along with them.
The reason for this scheme to get into action is that the current remote entrepreneurs are unable to get money from the institution. These people get their finance from money lenders at a very high interest rate which in return effects the growth of the micro business.

* Apex Refinancer
* MUDRA Architecture Indigenously Conceived for Indian context
* Inclusion of Last Mile Financiers - a game changing idea
* Help expand Access to finance for micro enterprises
* Lower Cost of Finance
* Credit plus Approach
* Mass Entrepreneurship Development and Growth
* Employment Generation, Higher GDP Growth

Eligibility Criteria :

Micro Units Development and Refinance Agency (MUDRA) has finalized the eligibility norms for the partner lending institutions for the purpose of availing refinance/ finance for onlending to micro units in manufacturing, trading and service sector in rural and urban areas. The eligible institutions, as indicated below, may approach MUDRA corporate office at First Floor, MSME Development Centre, C-11, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400 051 or the nodal officers placed across the country. Read More..>>

Highlights of the Pradhan Mantri Atal Pension Yojana
Objective of MUDRA Bank
1> The main objective of the committee is to build a suitable system to grow these businesses by providing finance.
2> These banks are also to setup a good method of using the last-mile credit agent scheme system to small and micro business.
3> The main objective of the bank is to make a good credit guarantee system so that the money is not loaned to a person who will go into debts and later becoming a liability to the government.
4> The committee will also be guiding the person in order to ensure that his business won’t be a failure.
5> Registering all the Microfinance Institutions and agencies to evaluate the performance rating and later accreditation for the first time.

Products and Offerings

The primary product of MUDRA will be refinance for lending to micro businesses/units under the aegis of the Pradhan Mantri MUDRA Yojana. The products would be covered under ‘Shishu’, ‘Kishor’ and ‘Tarun’ category to signify the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur as also provide a reference point for the next phase of graduation/growth for the entrepreneur to aspire for:

Shishu : covering loans upto Rs. 50,000/-
Kishor : covering loans above Rs. 50,000/- and upto Rs. 5 lakh
Tarun : covering loans above Rs. 5 lakh and upto Rs. 10 lakh

Businesses/entrepreneurs/units covered would include proprietorship/partnership firms running as small manufacturing units, shopkeepers, fruits/vegetable sellers, hair cutting saloon, beauty parlours, transporters, truck operators, hawkers, co-operatives or body of individuals, food service units, repair shops, machine operators, small industries, artisans, food processors, self help groups, professionals and service providers etc. in rural and urban areas with financing requirements upto Rs.10 lakh.

The products initially being launched are as under:

1> Sector / activity specific schemes, such as, schemes for business activities in Land Transport, Community, Social and Personal Services, Food Product and Textile Product sectors. Schemes would similarly be added for other sectors/activities.
2> Micro Credit Scheme (MCS)
3> Refinance Scheme for Regional Rural Banks (RRBs)/Scheduled Co-operative Banks
4> Mahila Uddyami Scheme
5> Business Loan for Traders and Shopkeepers
6> Missing Middle Credit Scheme
7> Equipment Finance for Micro Units

Other Proposed Offerings:
a> MUDRA Card
b> Portfolio Credit Guarantee
c> Credit Enhancement

Credit Plus Approach
MUDRA would also adopt a credit plus approach and take up interventions for development support across the entire spectrum of beneficiary segments. The highlights of such proposed interventions/initiatives are as under:
--Supporting financial literacy
--Promotion and Support of Grass Root Institutions
--Creation of Framework for “Small Business Finance Entities”
--Synergies with National Rural Livelihoods Mission
--Synergies with National Skill Development Corporation
--Working with Credit Bureaus
--Working with Rating Agencies

MUDRA would primarily be responsible for:
1)    Laying down policy guidelines for micro enterprise financing business
2)    Registration of MFI entities
3)    Supervision of MFI entities
4)    Accreditation /rating of MFI entities
5)  Laying down responsible financing practices to ward off over indebtedness and ensure proper client protection principles and methods of recovery
6)    Development of standardised set of covenants governing last mile lending to micro enterprises
7)    Promoting right technology solutions for the last mile
8)    Formulating and running a Credit Guarantee scheme for providing guarantees to the loans/portfolios which are being extended to micro enterprises
9)    Supporting development & promotional activities in the sector

10)  Creating a good architecture of Last Mile Credit Delivery to micro businesses under the scheme of Pradhan Mantri MUDRA Yojana

FAQ - For Munda Bank Yojana

1. What is MUDRA?

MUDRA, which stands for Micro Units Development & Refinance Agency Ltd., is a new institution being set up by Government of India for development and refinancing activities relating to micro units. It was announced by the Hon’ble Finance Minister while presenting the Union Budget for FY 2016. The purpose of MUDRA is to provide funding to the non corporate small business sector.

2. Why MUDRA has been set up?

The biggest bottleneck to the growth of entrepreneurship in the Non –Corporate Small Business Sector (NCSBS) is lack of financial support to this sector. Majority of this sector does not have access to formal sources of finance. GoI is setting up MUDRA Bank through a statutory enactment for catering to the needs of the NCSBS segment or the informal sector for bringing them in the mainstream. To begin with it is being set up as a subsidiary of SIDBI.

3. What is the rate of interest charged by MUDRA?

MUDRA will be a refinancing agency which will extend its funds to Last Mile Financiers to enable them to reach out to the sector. Access to finance in conjunction with rational price is going to be the unique customer value proposition of MUDRA. It will use a variety of innovative financing means to bring down the cost of funding for the ultimate borrower.

4. I have graduated recently. I want to start my own business. Can MUDRA help me?

MUDRA offers smaller loans upto  50,000/ under the 'Shishu' category and beyond  50,000 and upto  5 lakh under the 'Kishor' category. It also offers loans beyond 5lakh and upto  10 lakh under the Tarun category. Depending on your nature of business project requirement you can access finance from one of the intermediaries of MUDRA as per the norms

5. I have a small business dealing in paper goods. Can MUDRA help me?

Yes. MUDRA will offer smaller loans upto  50,000/ under the 'Shishu' category and beyond  50,000 and upto  5 lakh under the 'Kishor' category. These products have been designed to cater to customers operating at the lower end of the enterprise spectrum. The loans will be extended through MFIs, NBFCs, Banks etc.

6.Who are the target clients of MUDRA/ What kind of borrowers are eligible for assistance from MUDRA?

Non –Corporate Small Business Segment (NCSBS) comprising of millions of proprietorship / partnership firms running as small manufacturing units, service sector units, shopkeepers, fruits / vegetable vendors, truck operators, food-service units, repair shops, machine operators, small industries, artisans, food processors and others, in rural and urban areas.

7. What will be roles and responsibilities of MUDRA?

MUDRA would be responsible for refinancing all Last Mile Financiers such as Non Banking Finance Companies of various types engaged in financing of small businesses, Societies, Trusts, Section 8 Companies [formerly Section 25], Co-operative Societies, Small Banks, Scheduled Commercial Banks and Regional Rural Banks which are in the business of lending to micro/small business entities engaged in manufacturing, trading and services activities. The Bank would partner with State/regional level financial intermediaries to provide finance to Last Mile Financier of small/micro business enterprises.

Rules, Terms and Conditions for the Saansad Adarsh Gram Yojana, SAGY, Benefits of Saansad Adarsh Gram Yojana, About SAGY, Mode of payment of SAGY scheme, eligibility criteria of SAGY scheme, PM Narendra Modi Scheme, PM Modi Schemes

" The vision of our Hon'ble Prime Minister Shri Narendra Modi is “If we have to build the nation we have to start from the villages" and he believes that "If every MP transforms villages in his/her constituency into model villages, large number of villages in the country would have seen holistic development”. Our PM has requested all Members of Parliament (MP) to develop one model village in their constituency by year 2016 and two more by 2019. Department of Rural Development has formulated guidelines of the scheme. Hon'ble Prime Minister has released the guidelines on 11'th Oct 2014 at Vigyan Bhawan, New Delhi. "

Scheme detail:

Sansad Adarsh Gram Yojana (SAGY) is a rural development programme broadly focusing upon the development in the villages which includes social development, cultural development and spread motivation among the people on social mobilization of the village community. The programme was launched by the Prime Minister of India, Narendra Modi on the birth anniversary of Jayaprakash Narayan, on 11 October 2014.

Key objectives of the Yojana include:
The development of model villages, called Adarsh Grams, through the implementation of existing schemes, and certain new initiatives to be designed for the local context, which may vary from village to village.
Creating models of local development which can be replicated in other villages.

Benefits

The activities and outcomes will cover broad development indicators such as health, nutrition and education through organizing immunization drives, improving mid-day meal schemes, improving Aadhaar enrolment, setting up “smart schools” with IT-enabled classrooms and e-libraries, improving panchayat infrastructure under schemes such as MNREGA and Backward Regions Grants Fund.

A series of measures speak of better implementation of existing and new schemes and laws including RTI Act, National Food Security Act, National Rural Livelihood Mission, Pradhan Mantri Jan Dhan Yojana, while at the same time emphasizing “activities to improve hygienic behavior” by encouraging bathing among villagers, use of toilets and exercising for thirty minutes every day. It envisions social development in villages through identifying a village day, a village song, and focusing on alternative methods of dispute resolution.

Highlights of the Pradhan Mantri Atal Pension Yojana

Strategies
In order to convert the identified village into an Adarsh Gram through the specified activities, the following are the possible strategies:
1> Entry point activities to energize and mobilize the community towards positive common action
2> Participatory planning exercise for identifying peoples’ needs and priorities in an integrated manner
3> Converging resources from Central Sector and Centrally Sponsored Schemes and also other State 4> schemes to the extent possible.
5> Repairing and renovating existing infrastructure to the extent possible.
6> Strengthening the Gram Panchayats and peoples’ institutions within them
7> Promoting transparency and accountability

Funding
No new funds have been allocated for the Yojana.  Resources may be raised through:
1> Funds from existing schemes, such as the Indira Awas Yojana, Pradhan Mantri Gram Sadak Yojana, 2> Mahatma Gandhi National Rural Employment Guarantee Scheme, and Backward Regions Grant Fund, etc.,
3> The Member of Parliament Local Area Development Scheme (MPLADS),
4> The gram panchayat’s own revenue,
5> Central and State Finance Commission Grants, and
6> Corporate Social Responsibility funds.

MONITORING

At the national level, a separate, real  time web based monitoring system will be put in place for the scheme covering all aspects and components. The system would have the interface enabling the MP and other key stakeholders to log-in and give suggestions/comments, and even raise  queries or complaints, which should be promptly responded to by the implementing authorities.

Every process taken under this programme, will be photographed and geo-tagged and made available in public domain. Similarly, photographs of all assets at different stages would be uploaded. The outputs under each activity would be measured every quarter vis-à-vis the physical and financial targets set out in the Village Development Plan. Further, the core monitorable indicators of the 12th Five Year Plan would be utilised as appropriate. The outcomes will also be tracked from time to time to the extent possible.

Awards
Awards are proposed to be given in the
following categories:
i. Best practices
ii. Best Charge Officers
iii. Best District Collectors
iv. Best Adarsh Grams

Click here for FAQ of Saansad Adarsh Gram Yojana (SAGY)

Rules, Terms and Conditions for the Pradhan Mantri Atal Pension Yojana, APY, Benefits of Pradhan Mantri Atal Pension Yojana, About APY, Mode of payment of APY scheme, eligibility criteria of APY scheme, PM Narendra Modi Scheme, PM Modi Schemes

Scheme Details:

The APY will be focussed on all Citizen of India, especially those in the unorganised sector, who do not have any formal pension provision. The scheme encourages these workers to save voluntarily for their retirement.

Atal Pension Yojana is a government-backed pension scheme in India targeted at the unorganised sector. It was originally mentioned in the 2015 Budget speech by Finance Minister Arun Jaitley in February 2015. It was formally launched by Prime Minister Narendra Modi on 9 May in Kolkata. As of May 2015, only 11% of India's population has any kind of pension scheme, this scheme aims to increase the number.

In Atal Pension Yojana, for every contribution made to the pension fund, the government will contribute an equal amount to his/her fund. Depending on the contribution made between 18 and 40, at the age of 60 a sum of 1,000, 2,000, 3,000, 4,000, or ₹5,000 will be paid monthly.

This scheme will be linked to the bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme and the contributions will be deducted automatically. Most of these accounts had zero balance initially. The government aims to reduce the number of such zero balance accounts by using this and related schemes.

Benefit

1> The Scheme is subject to the approval of the Government.
2> Fixed pension for the subscribers ranging between Rs. 1000 to Rs. 5000, if he joins and contributes between the age of 18 years and 40 years. The contribution levels would vary and would be low if subscriber joins early and increase if he joins late

Highlights of the Pradhan Mantri Atal Pension Yojana

Eligibility for APY

A person from unorganized sector age between 18-40 years can subscribe to the scheme by providing Account number, Aadhaar number and Mobile number. A person from unorganised sector subscribing to APY who is income tax payer will not be eligible for co-contribution of GoI.
Subscriber should keep adequate balance in his/her account for the execution of standing instruction and to avoid any delayed interest/penalty.
Aadhar No. to be preferred at the time of opening APY account. Age of joining and contribution period

Focus of APY

Mainly targeted at unorganised sector workers.

How to open APY Account
If you are Bank Account Holder 

Click here - Atal Pension Yojana subscriber registration form  in English (pdf)  or  Hindi(pdf)
-- Go to nearest Bank Branch (core banking branch).
Fill up a APY registration form.
Provide the Bank account number, Aadhar no. and Mobile number
First contribution amount will be deducted from the account itself and thereafter on monthly basis.
Banks is to issue acknowledgement number / PRAN number on the counter foil slip against their subscription application.
If you are not Bank Account Holder
-- Go to nearest Bank Branch (core banking branch).
Open an Savings Account by proving KYC document Aadhaar.
Fill up a APY registration form.
Provide the Bank account number, Aadhar no. and Mobile number
First contribution amount will be deducted from the account itself and thereafter on monthly basis.
Banks is to issue acknowledgement number / PRAN number on the counter foil slip against their subscription application.
Please note: Person not having Aadhaar may also open their APY account but they need to submit their Aadhaar details within specified time duration.

Enrolment agencies:

All Points of Presence (Service Providers) and Aggregators under Swavalamban Scheme would enrol subscribers through setup  of National Pension System.  
The Table of contribution levels, fixed monthly pension to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period is given below.
1> if person joined Atal Pension Yojna at 35 years, he will contribute till age of 60 years ie 25 years.

  --  If he wants monthly pension of Rs 1000 he would contribute Rs 181 a month. On his death his wife would get Rs 1000 per month and after her death the nominees will get 1.7 lakh.
--  If he wants monthly pension of Rs 3000 he would contribute Rs 543 a month. On his death his wife would get Rs 3000 per month and after her death the nominees will get 5.1 lakh.
2> If he joins at the age of 18 years to get a fixed monthly pension of Rs. 1,000 per month, the subscriber has to contribute on monthly basis Rs. 42 for Rs 5000 pension he has to contribute Rs. 210.
3> if he joins at the age of 40 years to get a fixed monthly pension of Rs. 1,000 per month, the subscriber has to contribute on monthly basis Rs. 291 and for Rs 5000 pension he has to contribute Rs. 1,454

APY Monthly Contribution Chart

 Penalty for default

Under APY, the individual subscribers shall have an option to make the contribution on a monthly basis. Banks are required to collect additional amount for delayed payments, such amount will vary from minimum Rs. 1 per month to Rs 10/-
--Per month as shown below:
Rs. 1 per month for contribution upto Rs. 100 per month.
Rs. 2 per month for contribution upto Rs. 101 to 500/- per month.
Rs. 5 per month for contribution between Rs 501/- to 1000/- per month.
Rs. 10 per month for contribution beyond Rs 1001/- per month.
The fixed amount of interest/penalty will remain as part of the pension corpus of the subscriber.
--  Discontinuation of payments of contribution amount shall lead to following:
After 6 months account will be frozen.
After 12 months account will be deactivated.
After 24 months account will be closed.

Exit and pension payment
-- Upon completion of 60 years, the subscribers will submit the request to the associated bank for drawing the guaranteed monthly pension.
-- Exit before 60 years of age is not permitted, however, it is permitted only in  exceptional circumstances, i.e., in the event of the death of beneficiary or terminal disease.