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Government Schemes

Current Affairs

Fasal BimaYojana

  • NDA government’s crop insurance scheme has clearly consolidated itself. Claims made by farmers under the PradhanMantriFasalBimaYojana (PMFBY) for the year’s Kharif  (summer) crop was just 44% of the premium collected by insurers. In 2016 and 2017 it was 99% and 88%.
  • Premium inflows have become more robust and prompt. Insures have settled 100% of the claims for summer crops of both 2016 and 2017 and 96% for the 2016 Rabi (winter) season. Farmers contribute a 5th of the premium while the centre and state governments are to contribute the balance amount on 50:50 basis. Fixed farmer’s share of premium at 2% for Kharif and 1.5% for Rabi crops and 5% for cash crops.
  • The Pradhan Mantri Fasal Bima Yojna (PMFBY) was introduced on 14th January 2016, in a move aimed at reducing agricultural distress and farmer’s welfare without having to affect hefty hikes in the Minimum Support Prices (MSP) of agricultural products prices due to Monsoon fluctuations induced risks.

PM-Kisan

  • Centre has managed to spend just Rs 8,000 crore or 40% of the planned Rs 20,000 crore under the PM Kisan scheme in FY19. Savings of Rs 12,000 crore in the scheme could come in handy for the government struggling to meet its tax collection target.

Established in– 1 February 2019

Pradhan Mantri AwasYojana-Grameen

  • The government is likely to miss its target of 10 million houses for the rural poor by the end of FY19 under the PradhanMantriAwasYojana-Grameen (PMAY-G). It has sanctioned 9.6 million houses and completed some 7.6 million.
  • As per a government official “We expect 8.6-8.7 million to be completed by April 20, with the remaining sanctioned houses to be likely to be completed by the end of June”. PMAY-G which provides Rs 1.2-1.3 lakh for a house, has been approved for a further 19.5 million houses by 2022, within 6 million of these to be completed in FY20. Official also said that land is not easily available in some states, fodder or green areas cannot be allotted for housing.

PM- Aasha & Rabi crop

  • With only two-and-a-half months to go in the current Rabi season (October-December) , the government’s procurement of pulses and oilseeds touched only about 5% of its target under the PM-Aasha scheme up to April 11. The purchases by state-run agencies will most likely fall short of the target this season, even though lifting typically picks up pace after April. The procurement of the rabi oilseeds and pulses started on February 23.

PM-Aasha stands for Pradhan Mantri Annadata Aay Sanrakshan Abhiyan.

  • The scheme was launched in keeping with Government’s commitment and dedication for Annadata. It will help to protect farmers’ income which is expected to go long way towards the welfare of farmers.
  • Government officials claim that the renewed government commitment to make market intervention under PM-Aasha itself will help push up market prices and will eventually benefit farmers.

Jan Dhan accounts

  • Jan Dhan scheme, which was launched about five years ago by the Modi-government, are set to cross Rs 1 lakh crore soon. The total number of accounts have crossed 39 crore. The total balance in the Jan Dhan accounts, which has been steadily rising, was at Rs 97,665.66 crore as on April 3, as per the latest government data. The overdraft limit was doubled to Rs 10,000 from 5,000. Over 50 per cent of the Jan Dhan account holders are women, while nearly 59 per cent accounts are in rural and semi-urban areas.
  • More than89 crore account holders have been issued the Rupay debit cards. 
  • Pradhan Mantri Jan Dhan Yojana (PMJDY), is financial inclusion program of Government of Indiawhich is applicable to 20 to 65 years age group, that aims to expand and make affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions

Launched in- 28 August 2014.

PM Kisan

  • Around 1 crore small farmers have received the first tranche of Rs 2,000 each under the PM-Kisan scheme. 2.1 crore have got the second installment.
  • According to the Agriculture Ministry, this will cost Rs 10,500 crore to the exchequer. The government had announce that 12 crore farmers would be covered Rs 75,000-crore under the Pradhan Mantri Kisan Samman Nidhi Scheme.
  • Election Commission of India allowed the Union Agriculture Ministry to transfer the first and second tranche of the payment to all those beneficiaries registered under the scheme before the Model Code of Conduct that kicked in from March 10.