Government Schemes in India

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 government schemes, government policies, projects, and government campaign launches such as portal, apps etc. also.

‘Agriculture Infrastructure Fund’ gets Union Cabinet Approval

On 8th July 2020, a new pan India Central Sector Scheme was given approval by the Union Cabinet under the chairmanship of Prime Minister Narendra Modi.  The new Central Sector Scheme is called ‘Agriculture Infrastructure Fund’.

The scheme ‘Agriculture Infrastructure Fund’ was announced by Union Finance Minister as a part of the Rs 20 Lakh crore AtmaNirbhar Bharat package. Under the scheme, financial support of up to Rs 1 lakh crore will be provided as loans through the banks and financial institutions in the country to the Agricultural Sector such as Farmer Producer Organizations (FPOs), Startups, Primary Agricultural Credit Societies, Agri- entrepreneurs, etc.

Agriculture Infrastructure Fund

  • The duration of the scheme is for 10 years- from the financial year 2020-21 to 2029-30.
  • Management Information System (MIS) platform will be used for managing and monitoring the Agriculture Infrastructure Fund.
  • Loans of Rs 1 lakh crore will be sanctioned and disbursed under the scheme, out of which Rs 10,000 crore in the current 2020-21 financial year while Rs 30,000 crore will be sanctioned and disbursed in each of next three upcoming financial year.
  • A subsidized rate of interest will be provided to the loans issued under the scheme. The rate of interest will be 3 percent per annum. The 3 percent rate of interest will be applicable for a loan of up to Rs 2 crore.
  • The moratorium for repayment of the loan will vary from a maximum of 2 years to a minimum of 6 months.
  • Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) will provide credit guarantee coverage to eligible borrowers. The credit guarantee coverage will be provided for loans of up to Rs 2 crore.

Demand for Work Under MGNREGA increases by 21% in June 2020

The COVID-19 pandemic has pushed the rural and migrant labourers across the country into financial distress, as a result, more and more labourers continue to be attracted towards Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).

Budget Allocated for MGNREGA in FY 2020-21

In the Union Budget, Rs 61,500 crore was allocated under the scheme for Financial Year (FY) 2020-21. Later in the month of May 2020, an additional Rs 40,000 crore was allocated under the scheme for the FY 2020-21. For the first time since the launch of MGNREGA in 2006, allocation under the scheme crossed Rs 100,000 crore in an FY.

Last 5 FY allocation under MGNREGA

  • 2016-17: Rs 48,215 crore
  • 2017-18: Rs 55,166 crore
  • 2018-19: Rs 61,815 crore
  • 2019-20: Rs 71,002 crore
  • 2020-21: Rs 101,500 crore

MNREGA First Quarter of FY 2020-21 Highlights

In June 2020, a total of 43.7 million households across the country have demanded work under MGNREGA, this is 21 percent more than the 36.1 million households that demanded work under the MGNREGA in May 2020.

In April 2020, 12.8 million households have demanded work under MGNREGA.

In terms of work generated under the scheme, 32 percent less person-days of work were provided in June 2020 as compared to May 2020. June- 382.9 million person-days/ May- 567.4 million person-days.

In April the person-days of work were 141.2 million (this is 58 percent less than the person-days of work in April 2019).