Question

Five welfare schemes launched by Government of India for the upliftment of the needy and the downtrodden are as follows:

(1) Pradhan Mantri Jan Dhan Yojana (PMJDY): Under the PMJDY, any individual above the age of 10 years and does not have a bank account can open a bank account without depositing any money. The scheme targeted the people living Below Poverty Line (BPL) but is beneficial to everyone, who does not have a bank account.

(2) Pradhan Mantri Garib Kalyan Yojana (PMGKY): Under this Income Declaration scheme, the government would mobilize the money for utilising and meeting the welfare needs of the poor population.

(3) Stand-Up India Scheme: The scheme aims to promote entrepreneurship among SCs/STs and women. It provides a composite loan for setting up any new enterprise between 10 lakh rupees and up to one crore.

(4) Sukanya Samriddhi Yojana (SSY): It lays special emphasis on the financial empowerment of the girl child. Through this scheme, the parents of any girl child below 10 years can open a saving account for their daughter and operate it till she attains the age of 21 years. After that time, they can withdraw the money and use it for their marriage or higher education. The scheme offers a high rate of return even much higher than PPF (Public Provident Fund).

(5) Pradhan Mantri Awas Yojana (PMAY): It is primarily a welfare housing scheme launched by the Central Government. The houses would be distributed to the needy sections of society and a subsidy on loan would be provided by the Central Government, thereby making affordable housing for the economically weaker sections of the country. Special preference would be given to senior citizens, women, and SCs/STs in the allotment of these houses.