Govt Schemes: The ‘future’ of new India depends on these schemes of Modi government
Govt Schemes: When the Modi administration returned to power for the third time in 2024, it implemented a number of programs in line with its declarations. This covers programs like One Nation One Subscription and Bima Sakhi Yojana. During its third term, the Modi administration has prioritized programs for women and students. Let’s see what fresh initiatives the Modi administration introduced in 2024.
Bima Sakhi Yojana
LIC’s ‘Bima Sakhi Yojana’ was recently introduced by Prime Minister Narendra Modi. This calls for the appointment of two lakh female insurance agents during the course of the next three years. The LIC public sector insurance company’s ‘Bima Sakhi Yojana’ would empower women in the 18–70 age range by appointing them as insurance agents. These women will get special training and an honorarium for the first three years in order to raise awareness of insurance and financial literacy.
An honorarium of Rs 7,000 per month will be paid to the female agent under the Bima Sakhi plan in the first year, Rs 6,000 per month in the second, and Rs 5,000 per month in the third. Bima Sakhis will also gain from commission in addition to this. In three years, LIC intends to appoint two lakh Bima Sakhis. These ladies are eligible to work as LIC agents after completing training. Bima Sakhis, a graduate, will also get the chance to be considered for the position of Development Officer at LIC.
One Nation, One Subscription Plan
The ‘One Nation One Subscription’ plan was authorized by the Modi administration with the young in mind. The goal of this program is to make research papers and journal publications accessible throughout the country. ‘One Nation One Subscription’ is a new federal sector program that has been given a budget of around Rs 6,000 crore for the three calendar years 2025, 2026, and 2027. In order to increase the number of Indian youngsters who have access to high-quality higher education, “One Nation One Subscription” will broaden the scope and reach of the government’s educational efforts from the last 10 years.
It will support the ANRF’s efforts to advance R&D and cultivate an innovative and research-oriented culture at government colleges, universities, research institutions, and R&D labs. Through a nationwide “subscription” organized by the Information and Library Network (INFLIBNET), the “One Nation One Subscription” program will benefit all higher education institutions run by the Central or State Government as well as Central Government Research and Development Institutions. The University Grants Commission’s (UGC) independent intercollegiate center is called INFLIBNET. Institutions will be able to access journals via the Department of Higher Education’s integrated platform, “One Nation One Subscription.”
PAN 2.0 Plan
The “PAN 2.0” project, which would cost Rs 1,435 crore, has been declared by the government. It seeks to establish the Permanent Account Number (PAN) as a “common business identifier” across all government agency digital platforms. The initiative makes it possible for taxpayer registration services to undergo a technological transition. It strives for accessibility and prompt, high-quality service delivery. Additional advantages of the PAN 2.0 project include consistency and a single source of data, environmentally friendly procedures, security, and infrastructure optimization for increased agility and cost reduction.
PM-Vidyalakshmi Yojana
In order to enable deserving students to pursue high-quality higher education without financial restraints, the Modi administration authorized the PM-Vidyalakshmi Yojana. According to the plan, banks and other financial institutions would be able to lend money to any student enrolled in Quality Higher Education Institutions (QHEIs) to pay the whole cost of tuition and other course-related expenditures, without the need for collateral or a guarantor.
All top QHEIs, whether public and private, as identified by the National Institutional Ranking Framework (NIRF) rankings that place in the top 100 overall, category-specific, and subject-specific rankings will be eligible for the program. All federal government-run universities and state government higher education institutions rated 101–200 in the NIRF are also included.
Scheme for PM Internships
Applications for the PM Internship Scheme are open to anybody between the ages of 21 and 24. The Ministry of Corporate Affairs’ website is used to carry out the program. An intern would get a one-time award of Rs 6,000 and monthly financial support of Rs 5,000 for a duration of 12 months under this plan.
The young person chosen for the internship will get Rs 5,000 per month in financial aid under the program. In addition, students will get Rs 6,000 in one-time funding for “joining” the internship. According to government sources, 1.25 lakh internship opportunities are planned for the current fiscal year. An estimated Rs 800 crore would be spent on it.
PM E-Drive Program
The PM E-Drive program was introduced by the government at a cost of Rs 10,900 crore. The program is to encourage the quick uptake of EVs in India, the construction of infrastructure for charging them, and the growth of the EV manufacturing sector.
The implementation period for this plan is October 1, 2024, through March 31, 2026. In addition, the PM e-Drive program will include the Electric Mobility Promotion Scheme (EMPS-2024), which will be in effect from April 1, 2024, until September 30, 2024. Depending on battery capacity, the PM e-Drive scheme’s electric two-wheeler subsidy is set at Rs 5,000 per kWh. It would be cut in half to Rs 2,500 per kWh in the second year of the initiative, with a maximum benefit of Rs 5,000.
PM Krishonnati Yojana and Rashtriya Krishi Vikas Yojana
To support sustainable agriculture and guarantee food security, two significant agricultural projects totaling Rs 1 lakh crore have been authorized. These programs are called “Krishannati Yojana” (KYC) and “PM Rashtriya Krishi Vikas Yojana” (PM-RKVY). Of these, the Krishonnati program will focus on food security and agricultural self-reliance, while the PM-RKVY initiative will encourage sustainable farming. These two agricultural projects would cost a total of Rs 1,01,321.61 crore. Of this, Rs 44,246.89 crore has been set aside for Krishonnati Yojana and Rs 57,074.72 crore for RKVY. These two programs include 18 current agriculture programs. Through the state governments, the federal government carries out these programs.
Scheme for Skill Loans
The Revised Skill Loan Scheme was introduced by the government. Under this, the government-sponsored fund would provide a credit facility up to Rs 7.5 lakh. It is anticipated that this initiative will benefit 25,000 pupils annually. Previously, a talent loan could only be used up to Rs 1.5 lakh. The current amount is Rs 7.5 lakh. Additionally, the program now includes regional rural banks, NBFCs, and other financial institutions, when before it only covered scheduled banks.
PM Solar Ghar Yojana
On February 15, 2024, Prime Minister Narendra Modi introduced the plan. Households will get financial assistance under the program to install solar panels on their roofs. Up to 40% of the cost of solar panels will be covered by the subsidy.
Bharat Pradhan Ayushman Yojana Mantri Jan Arogya
An important step was taken on September 11, 2024, when the Union Cabinet authorized a massive extension of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY). By offering free health insurance coverage of up to Rs 5 lakh per household, this extension will assist around 4.5 crore families, including 6 crore senior persons, who will all obtain health care under this decision if they are 70 years of age or more. Regardless of their socioeconomic background, all senior citizens in this age range will be able to benefit from the program with this clearance.
