Government Schemes Current Affairs - 2019
Latest Government Schemes Current Affairs 2019 for UPSC Exams, Bank Exams, Civil Services, SSC and other Competitive Exams. This category comprises current affairs related to various welfare schemes of Government of India and State Governments.
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The Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) announced in the interim budget 2019 has been notified by the Ministry of Labour and Employment.
Features of the PM-SYM
PM-SYM is a voluntary and contributory pension scheme on a 50:50 basis where prescribed age-specific contribution shall be made by the beneficiary and the matching contribution by the Central Government. The salient features of the PM-SYM are:
- Each subscriber under the PM-SYM, shall receive minimum assured pension of Rs 3000/- per month after attaining the age of 60 years.
- If the subscriber dies during the period of receipt of the pension, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as a family pension.
- If the beneficiary had died due to any cause (before age of 60 years), his/her spouse will be entitled to join and continue the scheme subsequently by payment of regular contribution or exit the scheme as per provisions of exit and withdrawal.
- The subscriber must not be a taxpayer.
The scheme is expected to benefit as many as 42 crore workers are estimated to be engaged in the unorganized sector of the country whose monthly income is Rs 15,000/ per month or less and belong to the entry age group of 18-40 years who are not be covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organisation (EPFO).
Tags: Employees' State Insurance Corporation • Employees’ Provident Fund Organisation • EPFO • ESIC scheme • family pension • interim Budget 2019 • Ministry of Labour and Employment • New Pension Scheme (NPS) • Pension Scheme • PM- SYM • Pradhan Mantri Shram Yogi Maan-Dhan • unorganized sector
The Cabinet Committee on Economic Affairs (CCEA) has approved a three-year extension of the Credit Linked Capital Subsidy and Technology Up-gradation Scheme (CLCS-TUS) for Micro, Small and Medium Enterprises (MSME) with a total outlay of 2,900 crores on 13th February 2019. This scheme will continue beyond the 12th Five Year Plan for three years from 2017-18 to 2019-20.
What is the CLCS-TUS Scheme?
- Under this scheme, an upfront capital subsidy of 15 per cent will be provided to the MSMEs on institutional finance of up to Rs 1 crore availed by them. This will be done to help the MSMEs in employing well-established and improved technology in the specified 51 sub-sectors/products approved.
- The scheme aims to improve the competitiveness of MSMEs by integrating various current schemes aimed at up-grading technology through Credit Linked Capital Subsidy, hand holding for zero defect zero effect manufacturing, increasing productivity through waste reduction, design intervention, cloud computing, facilitation of intellectual property and nurturing new ideas.
- It will also focus on improving the quality of products and enhancement in productivity. This will promote a culture of continuous development.
- The scheme also incorporates special provisions to increase entrepreneurship for SC/STs, women, hill states, island territories and the aspirational districts/ LWE (Left-wing extremism) districts.
The MSME sector has emerged as a highly vibrant and dynamic sector of the Indian economy. They not only provide employment in the rural areas but are also a prelude to industrialization. MSMEs are complementary to large industries as ancillary units and this sector contributes enormously to the socio-economic development of the country.
Tags: Cabinet Committee on Economic Affairs • CCEA • CLCS-TUS • Credit Linked Capital Subsidy • Credit Linked Capital Subsidy and Technology Up-gradation Scheme • Left Wing Extremism • MSME • zero defect zero effect