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Central Government Programmes in Financial Part and Economic Indicators

Current AffairsPradhan Mantri Jan Dhan Yojana
Launch Date:
28.7.2014
Objective: A national mission to bring comprehensive financial inclusion of all the households to ensure access of all households to financial services.
Achievements:
  • 60% bank accounts opened in rural areas (As on 26.4.2017)
  • 44 crore Jan Dhan accounts opened (As on 26.4.2017)
  • Total balance in Jan Dhan accounts = Rs. 64,567crores (As on 26.4.2017)
  • Over 22 Crore Rupay Cards issued: (As on 26.4.2017)
  • Share of zero-balance Jan Dhan accounts dropped to 24% in December 2016 from 73% in December 2014.
  • Over 1.25 lakh bank-mitras appointed by banks
  • 5 lakh Gram-Dak-Sewaks will function as banking correspondents

Pradhan Mantri Sukanya Samriddhi Yojana
Launch Date:
22.1.2015
Objective: A small deposit savings scheme to promote the welfare of girl child and ensure them a secure future.
Achievements: Over one crore accounts have been opened and an amount of over Rs. 11766 crore has been deposited as on 31.01.2017

Pradhan Mantri Mudra Yojana
Launch Date:
8.4.2015
Objective: To provide financial support for growth (development and refinancing) of micro enterprises sector.
Achievements:
  • Easy, loans without guarantee under three categories – Shishu, Kishore and Tarun by the banks.
  • Loans more than Rs. 1.80 lakh crore disbursed to over 4 crore borrowers in 2016-17 FY as per data available till 13.04.2017
  • More than 70% of the loans has been availed of by women entrepreneurs
  • Budget allocation for 2017-18 doubled to Rs.2.44 lakh crores against Rs. 1.22 lakh crores in 2016-17
  • Mobile App to be launched soon.

Pradhan Mantri Suraksha Bima Yojana
Launch Date:
9.5.2015
Objective: To provide a very affordable insurance scheme for the poor and underprivileged people in the age group of 18 to 70 years with a bank account at a premium of Rs.12 per annum; with risk coverage of Rs.2 lakhs for accidental death and full disability and Rs.1 lakh for partial disability.
Achievements:
  • Around 10 crore people (as 12th April,2017) enrolled under Pradhan Mantri Suraksha Bima Yojana (PMSBY)
  • Accident insurance worth Rs. 2 lakh at just Rs. 12 per annum

Pradhan Mantri Jeevan Jyoti Bima Yojana
Launch Date:
9.5.2015
Objective: To create a social security system for the poor and underprivileged in the age group of 18-50 years by providing a renewable life insurance cover of Rs.2 lakhs with just a premium of Rs.330
Achievements:
  • 3.10 Crore persons (as on 12th April , 2017) enrolled under PMJJBY.
  • Life insurance worth Rs. 2 lakhs at just Rs. 330 per annum

Atal Pension Yojana
Launch Date:
9.5.2015
Objective: To provide financial security in old age through guaranteed minimum monthly pension for those working in informal sector or daily wagers in the age group of 18 to 40 years
Achievements:
  • Government contribution- 50 percent of beneficiaries’ premium (up to Rs. 1000) for 5 years in new accounts opened before December 31, 2015.
  • As on 21st March, 2017, a total of 46.80 lakh subscribers have been enrolled under APY with a total pension wealth ofRs. 1713.214 crores.

Stand- Up India
Launch Date:
5.4.2016
Objective: To support entrepreneurship among women and SC & ST communities by facilitating bank loans between 10 lakh and 1 Crore to them. To benefit at least 2.5 lakh entrepreneurs.
Achievements:
  • Loans of more than 15,000 entrepreneurs approved out of which more than 80% are women.
  • 500 crore has been allotted in 2016-17
  • As on 29.03.2017, Rs. 5237.29 crore sanctioned of which Rs. 2704.19 crore disbursed in 25435 accounts (20305 – women, 1086-ST and 4044 – SC).
  • Capital subsidy under new scheme ATUFS (Amended Technology Upgradation Fund Scheme) in Textile Sector will create over 30 lakh jobs, especially for women.
Budget: 2016-17- Rs 500 Cr

Pradhan Mantri Garib Kalyan Yojana
Launch Date:
17.12.2016
Objective: To provide an opportunity to pay taxes with heavy penalty to come clean so that the Government gets additional revenue which will be deposited as Pradhan Mantri Garib Kalyan Deposit for undertaking activities for the welfare of the poor and the remaining part of the declared income legitimately comes into the formal economy.
Achievements: Higher revenues to Government from Income Declaration Scheme 2016 (Unearthed Rs.65, 250 crore) andPradhan Mantri Garib Kalyan Yojana to raise resources to spend on the poor.

*ECONOMIC INDICATORS
  • Inflation brought under control. CPI-based inflation declined to 3.65% in February 2017 from7.72% in May 2014.
  • Inflation rate averaged 7.79 percent from 2012 until 2016, reaching an all-time high of 11.16 percent in November 2013 and a record low of 3.69 percent in July 2015
  • Economic Survey: CPI based Inflation likely to be below 5% .
  • Food inflation down to 2.46%; it was 8.88% in May 2014
  • Economy has moved on a high growth path.
  • India’s Current Account Deficit declined from 1.8% in 2014-15 to 1.3% in Q3 2016. .
  • High GDP growth rate : 7%+
  • Highest FDI ever : $63 billion
  • Fiscal Deficit in control: 3.2%
  • Current Account Deficit down from 4% in 2014 to almost zero
  • Low inflation : Around 4% from high of 11% in 2014
  • Rupee exchange rate in control

Indian GDP Growth Rate

Year

Growth rate (%)

2012-13

5.48

2013-14

6.54

2014-15

7.18

2015-16

7.93

2016-17

7.11


Indian GDP Projection by International Agencies (2016-17 vs. 2017-18)
  • IMF : 6.6 % (FY’16), 2% (2017-18), 7.7% (2018-19) (As per WEO April 2017)
  • OECD : 7 % (FY’16) &7.3% (FY’17)
  • World Bank: 7% (FY’16) & 7.6% (FY’17)
  • UN ESCAP Report : 7.3% (FY’16) & 7.5%(FY’17)
  • ADB : 7% (FY’16) & 7.8%(FY’17)
  • Moody’s : 7.1 % (FY’16 & FY’17)
  • Fitch : 7.1 % (FY'16) & 7.7 %(2017 -18)
  • CSO: 7.1%
Published on 10/12/2017 2:47:00 PM

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