Mar 282016

IIM – Indore Pupils Elucidating People about Govt. Schemes

Recently the students of Indian Institute of Management, Indore held its annual social fest named Utkarsha in their campus. IIM Indore is one of the elite Business Management Institutes in India. The students took up a program to educate common people about the Govt. financial schemes and policies which are presently there. By this, the common man will be financial literate and this will help making a better India. In 2015 especially, The Govt. of India under the leadership of Hon’ble Prime Minister Shree Narendra Modi launched several financial schemes or commonly termed as Yojanas. These schemes were launched under the main program called Pradhan Mantri Jan Dhan Yojana which aims to provide financial benefit and support to common masses of the country in form of loans, life insurance, pension policy, etc.

IIM – Indore Pupils Elucidating People about Govt. Schemes

The students took part in several sessions to elucidate people and grow awareness about these Govt. beneficiary schemes. According to them, mere launching of these schemes will not help. The common mass must be reached and proper education about these Govt. policies must be given. More public awareness drives in form of print media advertisement, social media, television and radio broadcasting is necessary to make these schemes successful and beneficial to the common masses.

There are a string of Govt. finance policies which were launched in 2014 – 2015.

  • Pradhan Mantri Jan Dhan Yojana (PMJDY) deals with providing banking services, credit loan, insurance and pension to common people affordably. Jan Dhan Yojana emphasizes most in opening up a bank account for every house hold in India and provides them basic banking facilities.
  • Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) deals with providing life insurance cover up to Rs. 2 lakh to people at affordable rates. In case of death of the registered account holder, the sum assured availed by the nominee.
  • Pradhan Mantri Atal Pension Yojana provides a ideal pension scheme to the Indians, especially those who do not have a secured income source and have no pension policy. Several slabs were made which will provide pension to the registered persons after they attain the age of 60 years. You can choose your Atal pension amount in the range between rs 1000 to Rs 5000.
  • Pradhan Mantri Sukanya Samridhhi Yojana deals with providing proper education to the girl child. On investing in this scheme, a girl child will be eligible for financial support from the Govt. which will help her getting higher education and have a career.
  • Pradhan Mantri MUDRA loan Yojana deals with providing financial support to the micro units and entrepreneurs in form of MUDRA loans. Those small business farms and units which are not being able to keep up with the current market competitions and need financial help can join this scheme. This will also serve in making the Make in India scheme of the Prime Minister a successful one. Government have set aside rs 2500 cr for Mudra Bank.
  • Pradhan Mantri Awas Yojana : this scheme is aimed to provide housing for all by 2022. Government with the help of private players making a lot of affordable houses. Also people who will take loans less the rs 6 lakhs will set a subsidy of 6.5% under PM Awas Yojana.

Like these, several other schemes were rolled out for the common Indian mass. These schemes were thoroughly discussed and several workshops and seminars were held by the students of IIM Indore to create awareness among the masses about these various Govt. finance schemes. The entrepreneurship was encouraged and motivated among the masses.

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