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.
On June 12, 2020, the Ministry of Finance announced that the public sector banks have so far disbursed Rs 14,690 crores for the MSMEs under the Emergency Credit Line Guarantee Scheme (ECLGS).
The credit line of ECLGS is the biggest component of the economic package announced by the Finance Minister under Atma Nirbhar Bharat Abhiyan. The Finance Minister announced that Rs 29,490 crores of loans has been sanctioned to MSMEs. Out of this, Rs 14,690 crores has been disbursed.
The Cabinet in May 2020, had approved additional funding of Rs 3 lakh crores through ECLGS at a concessional rate of 9.25% for the MSME sector. This will help to cover MUDRA borrowers broadly.
The main aim of GoI to focus on ECLGS is to provide incentive to the lending institutions, enable availability of funding to the MSME borrowers and to increase the access of funding facilities to the MSMEs.
Impacts of the Scheme
The scheme is expected to mitigate stress caused by COVID-19 that has severely impacted manufacturing sector and other activities of MSME. It is expected to provide credit facilities at low cost and thereby help the MSMEs restart their business and meet their operational liabilities. The scheme is expected to have positive impact on the economy and also support its revival.
Tags: Atma Nirbhar Bharat Abhiyan • COVID-19 • Credit Enhancement Fund • MSME • Mudra Loans
On June 12, 2020, the Union Agriculture Minister shri Narendra Singh Tomar launched Shahakar Mitra scheme. The scheme has been launched to assist the cooperative institutions to access innovative ideas of young professionals. In return the young interns will gain confidence to become self-reliant in the field.
The Scheme is an internship programme for the youths in the country. It is an initiative of the National Cooperative Development Cooperation (NCDC).
The scheme promotes “Vocal for Local” that was launched under Atma Nirbhar Bharat Abhiyan. The scheme will help the young professionals gain practical experience and also learn from cooperatives and NCDC. The cooperative on the other hand will learn about the latest technologies and practices that help boost agriculture and its allied sector.
The interns will also be provided with financial support for a period of 4 months.
The professional graduates in Agriculture, IT and allied areas are eligible for the internship. Also, persons that have completed MBA degrees in finance, agriculture, forestry, business, project management, international trade, rural development are also eligible to apply.
An online application portal has been launched to help the interested candidates apply to the scheme.