Government schemes

The government has launched many schemes for Indian people. The government provides many
facilities to rural people just like Linkezee does. Linkezee(link) is a local search engine that helps
the service provider to get verified leads. I will give you a short description of every scheme one
by one.

1. Pradhan Mantri Kaushal Vikas Yojana (PMKVY) :

This scheme was launched in April 2015. This scheme was based on youth skill development. The
government was trying to give jobs to the youth of the nation so that they can do better things
in life. The main objective of this scheme was to up-bring people from poverty. Poor children can
also lead to a better life. The training was provided by National Skill Development Corporation
(NSDC) with 187 training partners.
Many youths got benefited from this scheme. Over 24 lakh youths were trained with an
estimated training cost of Rs. 1, 500 crores. Which very big amount in itself. On an average
trainee will get Rs. 8000 as a reward (one time only). This would be given by a third party
assessment body. However to receive the reward, the trainee will have to appear for the
assessment test and based on the test results, the reward would be given. This money will be
directly credited to the bank account of the candidate. Students can enroll their names by
visiting this site http://www.pmkvyofficial.org/Training-Centre.aspx. Eligibility for this scheme
was also simple:
 First-time job entrants.
 Class 10 or 12 drop-outs.
 An applicant has to provide Aadhar card number, mobile number, PAN card or election
card.
2. Pradhan Mantri Jeevan Jyoti Bima Yojana ( PMJJBY) :
This scheme was launched in May 2015. PMJJBY is the new life insurance scheme. Pradhan
Mantri Jeevan Jyoti Bima Yojana, for the growth of the poor and low-income section of society.
As a pure term insurance plan, Pradhan Mantri Jeevan Jyoti Bima Yojana, is available for people
between the ages group of 18- 50 years.
The premium to be paid is as low as Rs. 12 per annum, per member of the family. In the case of
death, the sum insured is 2 lakhs. Finally, in cases where there is a loss of eye or limb, the sum
insured is 1 lakh. Benefits of these schemes are as follows:
 Death Benefit- In case of demise of the insured person the PMJJBY provides a death
coverage of Rs 2,00,000 to the beneficiary of the policy.
 Maturity Benefit- As this is pure term insurance plan, PMJJBY does not offer any
maturity or surrender benefit.
 Tax Benefit- The premium paid towards the policy is eligible for tax deduction under
section 80C of the Income Tax Act. In case the insurance holder fails to submit form 15
G/15 H then any life insurance proceeds exceeding Rs. 1,00,000 will be taxable by 2%.
 Risk Coverage- PMJJBY provides a risk coverage of 1 year. Nevertheless, as this is
 renewable policy it can be renewed yearly. Moreover, the policyholder can also opt for a
longer duration more than a year by auto-debit option linked to your savings bank
account.

The eligibility criteria are that any person aged between 18- 50 years having a savings bank
account can join this scheme through participating banks. Pradhan Mantri Jeevan Jyoti Bima
Yojana is a very beneficial scheme that can be subscribed to by simply linking the adhaar card
with the participating bank account.

3. Pradhan Mantri Jan Dhan Yojana (PMJDY) :

This scheme was launched in August 2014. PMJDY is a nationwide scheme launched by the
Government of India to ensure financial inclusion of every individual who does not have a bank
account in India. This scheme aims at providing access to financial services, namely, Banking /
Savings & Deposit Accounts, Remittance, Credit, Insurance, and Pension in an affordable manner
to all.

This scheme was launched in August 2014 and according to reports by the Ministry of Finance,
around 4 crore bank accounts have been opened under this scheme till September 2014.
The benefits of PMJDY:
 Insurance benefits: The account holders under this scheme will get an accidental
insurance cover of Rs 1 lakh and a life cover of Rs 30,000 – a payment on the death of
the beneficiary (subject to conditions).
 Loan Benefits: The account holders under this scheme can avail of an overdraft facility
up to Rs 5,000. This is available against one account per household. The quantum of the
loan may look small but is a boon to those below the poverty line and would enable
them to reinvest this in more profitable avenues.
 Mobile Banking Facility: Enabling carrying out transactions through a mobile phone
facilitates such account holders in checking of balance and also transferring funds with
ease across India.

4. Pradhan Mantri Suraksha Bina Yojana (PMSBY) :

This scheme was launched in May 2015. PMSBY scheme was launched by PM Narendra Modi
which is an accidental death and disability insurance scheme. A large part of the Indian
population lives in rural areas and most of them are not covered under any kind of social
security scheme. A large section of this population has not even gained the benefits of the
banking system and most are still unaware of various government schemes that are launched
from time to time. Such is the seriousness of the government to make these schemes a success
that almost the entire senior Cabinet has fanned out to various state capitals and major towns to
launch the scheme simultaneously and ensure its successful implementation.
This scheme stands out because of its offering and approach. Firstly, it is the sheer size and
depth of inclusion to bring and get covered the maximum number of people under this scheme,
which kind of makes it very ambitious and challenging.
The eligibility criteria for PMSBY scheme is that Any person between the age of 18 and 70 with a
savings bank account and Aadhaar Card can join the scheme.

All a person has to do is to open a bank account and then ensure the availability of at least Rs.
12/- before 1st June of each year to ensure the automatic renewal of the scheme. A person has
the option to go in for a long-term inclusion under the scheme by instructing the bank to auto-
renew the scheme every year.