The Indian government has launched several schemes over the years to provide financial assistance and support to its citizens in various areas such as financial inclusion, housing, cooking fuel, insurance, and entrepreneurship. These schemes are aimed at helping the economically disadvantaged sections of society and providing them with access to essential services and support.
These schemes are designed to provide benefits such as financial assistance, insurance coverage, and loans to citizens in need and support their overall welfare. They are also focused on reducing the gap between rich and poor citizens and promoting equality of opportunity. Below are the Top 7 Govt. Scheme Launched by Indian Government.
- Pradhan Mantri Jan Dhan Yojana (PMJDY):
This scheme was launched in 2014 by the Indian government to provide financial inclusion to all households in the country. It aims to provide bank accounts to all citizens, especially those who are financially disadvantaged, and to provide them with a range of services such as debit cards, accident insurance, and the ability to transfer funds. Additionally, this scheme also provides overdraft facility of up to Rs.5000 to account holders after satisfactory operation of the account for 6 months.
- Pradhan Mantri Ujjwala Yojana (PMUY):
Launched in 2016, this scheme aims to provide LPG (liquid petroleum gas) connections to households below the poverty line. The scheme is targeted at households that do not have access to clean cooking fuel and aims to replace traditional cooking methods such as using firewood, which are not only inefficient but also harmful to health. This scheme also covers deposit required for gas connection and first refill.
- Pradhan Mantri Awas Yojana (PMAY):
Launched in 2015, this scheme aims to provide affordable housing to all citizens, especially those belonging to economically weaker sections of society. The scheme targets the urban and rural poor, and provides financial assistance for the construction or renovation of houses. This scheme also provides credit-linked subsidy for economically weaker section, low-income group and middle-income group (EWS/LIG/MIG)
- Pradhan Mantri Fasal Bima Yojana (PMFBY):
Launched in 2016, this scheme aims to provide insurance coverage and financial support to farmers in the event of crop loss or damage. The scheme is designed to help farmers cope with the financial losses they may incur due to unforeseen events such as natural disasters, pests, and diseases. This scheme also provides end-to-end solutions including yield estimation, damage assessment and on-time claims settlement
- Pradhan Mantri Suraksha Bima Yojana (PMSBY):
Launched in 2015, this scheme provides accidental insurance coverage to citizens at a very low cost. The scheme is open to all citizens in the age group of 18-70 years, and provides coverage of Rs. 2 lakh in case of accidental death or full disability and Rs. 1 lakh in case of partial disability.
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):
Also launched in 2015, this scheme provides life insurance coverage to citizens at a very low cost. The scheme is open to all citizens in the age group of 18-50 years, and provides coverage of Rs. 2 lakh in the event of the policyholder’s death.
- Pradhan Mantri MUDRA Yojana (PMMY):
This scheme was launched in 2015, aims to provide funding and support to micro, small, and medium enterprises (MSMEs) in the form of loans. The scheme provides loans under three categories: “Shishu” for businesses in the startup phase, “Kishore” for established micro-enterprises, and “Tarun” for small and medium-sized enterprises. This scheme also provides incentives to the banks and NBFCs for on-lending to the MUDRA borrower.
These are all the schemes that are focused on providing support to the citizens of India in different aspects. Each scheme has its own set of eligibility criteria, benefits, and procedures for application. I hope this gives you a better understanding of these schemes and how they can help people.
In conclusion, the Indian government has launched several schemes over the years to provide support and assistance to citizens in various areas such as financial inclusion, housing, cooking fuel, insurance, and entrepreneurship. These schemes are an important step towards ensuring that all citizens have access to essential services and support, and are aimed at reducing poverty and promoting equality of opportunity.