More health packages focused on elderly care likely to be added to AB-PMJAY
The National Health Authority is set to extend the Ayushman Bharat scheme to include those aged 70 and above, benefiting around six crore citizens. The scheme will offer expanded health packages focusing on geriatric care and provide free treatment up to Rs 5 lakh annually. Key Points
Economic TimesGovt portal for internships now open for candidate registration
New Delhi, Oct 12 (PTI) Candidates can now apply for the Prime Minister Internship Scheme, with the dedicated portal going live for registration on Saturday. Those in the age group of 21-24 years are eligible to apply for the scheme. As per the scheme’s pilot project, estimated to cost around Rs 800 crore, internships will […] Key Points
ThePrintCabinet expands Ayushman Bharat scheme for 70+ old citizens, boost for hydropower sector and more: Check h
The Union Cabinet has approved several key schemes to boost healthcare, renewable energy, and sustainable transportation. These include extending the Ayushman Bharat scheme for citizens aged 70 and above, a significant hydropower initiative, and the PM E-drive scheme to promote electric vehicles. These measures aim to enhance infrastructure and support India's renewable energy goals. Key Points
Economic TimesCentre struggling to implement tribal scheme launched in 2021 but announced new one in Budget
Implementation of Pradhan Mantri Adi Adarsh Gram Yojana, to provide essential facilities in tribal areas, remains patchy. States like MP & Gujarat haven't used funds released till date. Key Points
ThePrintWill abolish Agnipath scheme & direct armed forces to resume normal recruitment: Congress Manifesto
The Congress party, unveiling its manifesto 'Nyay Patra' for the upcoming Lok Sabha elections, pledged to abolish the Agnipath program and revert to normal armed forces recruitment to reach full sanctioned strength. Criticizing the scheme on multiple occasions, Congress has highlighted the gross injustice it believes it inflicts on youngsters seeking regular employment in the armed forces. Key Points
Economic Times
Spending under rural jobs scheme up 4% in 2023-24
Total expenditure under the Mahatma Gandhi National Rural Employment Guarantee scheme (MGNREGS) - including states' contribution for materials used in the work - stood at Rs 1.05 lakh crore in 2023-24, against Rs 1.01 lakh crore in the previous year, showed preliminary data compiled by the rural development ministry. Erratic monsoon reduced the typical large-scale migration of workers to farm activities in the second quarter of the financial year, experts said. Key Points
Economic TimesHousing for all: About 3.36 crore houses delivered under PM Awas Yojana so far
New Delhi [India], March 23 (ANI): About 3.36 crore houses were built and handed over to beneficiaries, rural and urban combined, so far under the central government’s flagship housing for all scheme, the Pradhan Mantri Awas Yojana (PM-Awas). According to official data available for until March 18, 2.55 crore housing units came up in rural […] Key Points
ThePrintMint Explainer: The politics and the economics of basic income transfer schemes
Several state governments are rolling out basic income transfer schemes for some time now. It is meant to empower women socially and economically and provide them with a safety net. Key Points
mintFoxconn, Samsung, 3 others to get Rs 4,400+ cr under PLI
Apple's contract manufacturers in India, including Foxconn, Wistron, Pegatron, along with Samsung and Dixon Technologies, are set to receive over ₹4,400 crore in incentives for meeting targets in FY23 under the government's production-linked incentive scheme for smartphones. Rising Star (Bharat FIH), Lava, and Optiemus Electronics are among the companies that have not met the PLI targets and are unlikely to receive incentives. Key Points
Economic TimesPM Surya Ghar Muft Bijli Yojana: Step-by-step guide on how to get subsidy in your bank account within 30 d
PM Surya Ghar Muft Bijli Yojana: The Government has launched a massive campaign since the launch of the scheme for raising awareness and generating applications from interested households for the solar rooftop scheme. Households can register themselves on https://pmsuryaghar.gov.in to avail benefits under the scheme. Key Points
Economic Times
Rs 6 lakh investment doubles in 5 years with this large & midcap mutual fund scheme. Check details
The HDFC Large and Mid Cap Fund which was launched in February 1994 has delivered absolute returns of 21.54% which is slightly higher than the returns given by its benchmark Nifty Large-Midcap 250 Index (TRI) at 20.75%. Its CAGR returns since inception stand at 12.82%. Key Points
Economic TimesNFO Alert: Canara Robeco Mutual Fund launches Canara Robeco Manufacturing Fund; all you need to know
Canara Robeco Mutual Fund announced the launch of the Canara Robeco Manufacturing Fund. The scheme opened for public subscription on February 16, 2024, and will close on March 01, 2024. Key Points
mintJustice Sanjiv Khanna on electoral bonds — 'may have led to laundered money getting legitimised'
Justice Khanna was among 5 SC judges who struck down Electoral Bond Scheme. In his opinion, he questioned Centre's claim that scheme aimed to protect donors from retaliation, retribution. Key Points
ThePrintRooftop solar scheme gets new name, and ₹75,000 crore allocation
The scheme, first announced on January 22 by the Prime Minister as Pradhan Mantri Suryodaya Yojana, aims to light up 10 million households and enable them to have free electricity of up to 300 units every month. It envisages substantive subsidies directly in the bank accounts of the consumers and heavily concessional bank loans. Key Points
Economic TimesNFO Alert: HDFC Mutual Fund launches HDFC NIFTY200 Momentum 30 Index Fund; all you need to know
HDFC Mutual Fund announced the launch of the HDFC NIFTY200 Momentum 30 Index Fund. The scheme opened for public subscription on February 09, 2024, and will close on February 23, 2024. Key Points
mint
NFO Alert: Axis Mutual Fund launches Axis S&P BSE Sensex Index Fund; all you need to know
Axis Mutual Fund announced the launch of the Axis S&P BSE Sensex Index Fund. The scheme will open for public subscription on February 08, 2024, and will close on February 22, 2024. Key Points
mintNo proposal to hike PM-KISAN amount from Rs 6,000/yr: Agriculture Minister Arjun Munda
The government has no proposal to increase the financial benefit to farmers under PM-KISAN scheme to Rs 8,000-12,000 per year, including for women farmers. Launched in 2019, PM-KISAN provides eligible farmers a financial benefit of Rs 6,000 per year. The government has disbursed over Rs 2.81 lakh crore to more than 11 crore farmers. PM-KISAN is one of the largest Direct Benefit Transfer (DBT) schemes. Key Points
Economic TimesFinMin releases Rs 66,745 cr loan to 28 states for capital investment in Apr-Jan
In the 2022-23 fiscal, Rs 81,195.35 crore was released under the scheme. Capital investment projects in diverse sectors have been approved, including health, education, irrigation, water supply, power, roads, bridges, and railways. Funds for meeting the state share of Jal Jeevan Mission and Pradhan Mantri Gram Sadak Yojana have also been provided to the states under this scheme to enhance the pace of projects in these sectors. Key Points
Economic TimesNFO Alert: Nippon India Mutual Fund launches Nippon India Nifty IT Index Fund; all you need to know
Nippon India Mutual Fund announced the launch of the Nippon India Nifty IT Index Fund. The scheme opened for public subscription on February 05, 2024, and will close on February 16, 2024. Key Points
mintPLI scheme to only give kickstart, ultimately competition will prevail: Piyush Goyal to industry
Commerce and Industry Minister Piyush Goyal encouraged firms benefiting from the Production-Linked Incentive (PLI) scheme to consider it as an initial boost rather than a long-term subsidy. Goyal emphasized the need for competition and urged companies to provide constructive criticism and feedback for better implementation of the scheme. Key Points
Economic Times
NFO Alert: DSP Mutual Fund launches DSP Multicap Fund; all you need to know
DSP Mutual Fund announced the launch of the DSP Multicap Fund. The scheme opened for public subscription on January 08, 2024, and will close on January 22, 2024. Key Points
mintSamsung to finally get its FY21 incentives under PLI scheme
The Indian government has cleared over ₹500 crore claims for South Korean smartphone manufacturer Samsung for the first year of the smartphone production-linked incentive (PLI) scheme, which was granted after over two years of revisions due to discrepancies in the original paperwork. Samsung had initially filed for ₹900 crore, claiming to have achieved a target of ₹15,000 crore worth of incremental sales for FY21. Key Points
Economic TimesRBI extends PIDF scheme by 2-years till Dec 2025
Reserve Bank of India (RBI) extended the Payments Infrastructure Development Fund (PIDF) scheme till December 2025, expanding its coverage to include sound box instruments and Aadhaar-enabled biometric devices. The scheme aims to promote payment infrastructure in smaller regions and currently holds a corpus of Rs 1,026.37 crore as of November 30, 2023. Operational since January 2021, it focuses on deploying payment acceptance technology in tier-3 to tier-6 centers, North Eastern states, Jammu & Kashmir, and Ladakh. Key Points
Economic TimesBudget 2024: Govt likely to announce a women-centric scheme in interim budget, says report
In the upcoming interim budget, the central government is reportedly considering the introduction of a women-centric scheme, as per sources. The discussions are currently underway, focusing on eligibility criteria, annual income, and the proposed financial assistance amount. Key Points
Economic Times7.51 million beneficiaries registered under ABRY: MoS Teli in Lok Sabha
ABRY was launched at the time of Covid with effect from October 1, 2020 to incentivize employers for creation of new employment and restoration of loss of employment during Covid-19 pandemic. The terminal date for registration of beneficiaries was 31.03.2022. The scheme was launched as part of Atmanirbhar Bharat package 3.0. Key Points
Economic Times
Loans worth Rs 9,790 crore disbursed to street vendors under PM SVANidhi scheme: Government in Rajya Sabha
This scheme is available pan-India in all urban local bodies, Union Housing and Urban Affairs Minister Hardeep Singh Puri said while replying to a supplementary question. All street vendors in urban areas are eligible for benefits under the PM SVANidhi Scheme, irrespective of the date on which they started vending. Key Points
Economic TimesCabinet nod to Rs 2500 cr to continue interest equalisation scheme upto June’24
Manufacturer and merchant exporters exporting specified 410 products will get 2% subsidy and all the MSME exporters will get 3%. Availability of pre and post shipment packing credit at competitive rates is important for the exports sector in order to compete internationally. Key Points
Economic TimesNFO Alert: Axis Mutual Fund launches Axis India Manufacturing Fund; all you need to know
Axis Mutual Fund announced the launch of the Axis India Manufacturing Fund. The scheme opened for public subscription on December 01, 2023, and will close on December 15, 2023. Key Points
mintDisbursement of Rs 79 crore incentives under PLI for white goods expected in last quarter of this fiscal
Indian government is set to disburse around Rs 79 crore in fiscal incentives under the Production Linked Incentive (PLI) scheme for white goods in the last quarter of the financial year. The PLI scheme for white goods aims to promote domestic manufacturing of air conditioners and LED light components. Some selected beneficiary firms have already started production, contributing to the disbursement target. Key Points
Economic TimesNFO Alert: All you need to know about WhiteOak Capital Large and Mid Cap Fund
WhiteOak Capital Mutual Fund announced the launch of the WhiteOak Capital Large & Mid Cap Fund. The scheme opened for public subscription on December 01, 2023, and will close on December 15, 2023. Key Points
mint
Centre extends this scheme by another 5 years, 81 crore Indians will benefit
The government will spend a total of ₹ 11.80 lakh crores over next five years, Union minister Anurag Thakur announced. | Latest News India Key Points
Hindustan TimesCabinet approves Garib Kalyan food grain programme for another 5 years
The PM Garib Kalyan Yojana was initially started during the start of the Covid pandemic, where ration card holders were entitled to receive an additional five kg grains (wheat or rice of individual's choice). Also, chana was also being provided as part of the additional food distribution programme. Key Points
Economic TimesCabinet approves providing 15,000 drones to women Self Help Groups
In a significant move aimed at empowering women across the country, the Union Cabinet, led by Prime Minister Narendra Modi, granted approval on Wednesday for a pioneering scheme. Under this initiative, the central government will distribute drones to an impressive 15,000 Women's Self Help Groups (SHGs) over the next four years. Key Points
Economic TimesNFO Alert: Baroda BNP Paribas Mutual Fund launches Baroda BNP Paribas Gold ETF; all you need to know
Baroda BNP Paribas Mutual Fund announced the launch of the Baroda BNP Paribas Gold ETF. The scheme opened for public subscription on November 28, 2023, and will close on November 30, 2023. Key Points
mintNFO Alert: Union Mutual Fund launches Union Children’s Fund; all you need to know
Union Mutual Fund announced the launch of the Union Children’s Fund. The scheme opened for public subscription on November 28, 2023, and will close on December 12, 2023. Key Points
mint
Over ₹1,500 crore left in kitty, telecom PLI 2.0 in works
The Department of Telecommunications (DoT) had notified the PLI scheme for telecom and networking products in February 2021 with an outlay of ₹12,195 crore. A total of 31 companies were given approval on October 14, 2021 for the scheme, which offers incentives in the range of 4% to 7% for different categories and years. For MSMEs, a 1% higher incentive is proposed in year 1, year 2 and year 3. Key Points
Economic TimesDell, Acer, HP among 27 manufacturers approved by Cabinet under Production Linked Inventive scheme for IT hardware
New Delhi [India], November 18 (ANI): Building on the success of the Production Linked Incentive scheme (PLI) for mobile phones, the Union Cabinet led by Prime Minister Narendra Modi has approved PLI scheme – 2.0 for IT hardware, said a government release on Saturday. This scheme covers laptops, tablets, all-in-one PCs, Servers and Ultra Small […] Key Points
ThePrintIndia grants incentives for Dell, HP, Foxconn to make IT hardware locally
The Indian government has approved investments by 27 companies including Dell (DELL.N), HP (HPQ.N) and Foxconn (2317.TW) under its $2 billion incentive scheme to manufacture IT hardware domestically. Key Points
Reuters'Sony, Zee will conclude merger, won't let top job become a dealbreaker'
Abhijit Joshi, managing partner at Veritas Legal said a scheme, once approved by all the authorities, should typically proceed subject to the conditionalities as per the scheme. Typically, there is a lag between the approval from the court or tribunal and the effectiveness of the scheme. The scope of withdrawal will be limited and will depend on conditionalities to its effectiveness under the provisions of the scheme, he said. Key Points
Economic TimesPMAY drives up MGNREGS wage costs
MGNREGS wages of about ₹35,000-40,000 crore are estimated to have gone into the construction of houses under the PMAY (Gramin) since the scheme was rolled out in November 2016 by revamping the erstwhile India Awas Yojana, said the person. House construction has picked up pace in the last two years, pushing up the MGNREGS wage costs on such an account. Key Points
Economic Times
Government relaxes norms for some small savings schemes
In case of Public Provident Fund, some changes have been made with regard to the premature closure of accounts. The government has relaxed the norms for various small savings schemes, including the Public Provident Fund (PPF) and Senior Citizen’s Savings Scheme. Key Points
The Tribune India