Government 's Move for Tracking Welfare Measures | Motilal Oswal

Government's Move for Tracking Welfare Measures

It has hardly been two years since Narendra Modi 's led BJP team came to power earning an absolute majority. Let us have a look at a brief insight on the number of welfare measures taken by the ruling government so far. Jan Dhan Yojana This is a beautiful welfare scheme taken up by the Modi government where anyone can open a bank account without any hassles. You need not maintain the heavy minimum balance thresholds as stipulated by foreign or international banks. This is Modi 's new scheme towards direct subsidy transfer. You wouldn 't believe if you are told that hardly within a week since the launch of the Jan Dhan Yojana, the welfare measure has earned a place in the Guinness Book of World Records. This was for the maximum number of bank accounts opened during the entire week, post the launch.   LPG 'Give it up ' subsidy The new government started the campaign 'Give it up '. This simply means the LPG subsidies have to be given up by those people who earn more than 10 lakhs per annum. The Petroleum and Natural gas ministry headed by Dharmendra Pradhan made sure the campaign was carried forward actively. The subsidies given up by the elite class of the society were utilized towards providing LPG gas connection to more than 5 lakh Indian households who still depend upon firewood or kerosene stoves to have the cooking done. Make in India plan Quite a lot of government schemes are aimed at making Indian lifestyle the best in the world. Modi introduced the world famous 'Make in India ' plan. The ruling government procures boost up capital from NRI 's and FDI 's (Foreign Direct Investments). We import raw materials from China, Korea or even Japan at lower prices to manufacture a range of consumer moving products and services. Then, the highly sophisticated form of finished goods is exported to the remaining parts of the world. The government has introduced the plan with the sole intent of boosting up our exports. Cashless economy or Digital India Plan The cashless economy or Digital India plan started off in full swing, ever since highly cash-centric notes namely the 500 and 1000 rupee notes were banned from the economy altogether. The move is popularly known as 'Demonetization '. This is one of the boldest 'Indian government schemes ', ever. Demonetization is Modi 's new scheme towards encouraging more and more people going cashless. He wants the complete gamut of urbanized and rural population to use credit or debit cards. In other words, it is the formation of 'Digital India ' plan as what we can witness in developed countries or affluent economies. Swachh Bharat Swachh Bharat scheme is a wonderful initiative taken by the ruling government. This is one of the best government schemes implemented towards making India a cleaner, greener and a healthier place to live in. The fleet of initiatives under the Swachh Bharat not only includes one aspect named cleanliness but also includes building more toilets, providing basic drinking water to the rural population, waste management, and waste segregation. You can count upon the real success of this particular initiative only with the help of active public participation. Bankruptcy code Quite a number of banks were grappling with non-performing assets and the government was trying to figure out what needed to be done, to tackle the issue. Should it introduce more entrepreneurs to deposit fat bank balances or take the help from NRI 's who can flush the Indian banks with foreign currency? However, a strong measure to pass a law or a regulation towards the amendment of bankruptcy laws was the dire need of the hour. The Bankruptcy act was passed in the Rajya Sabha just before the onset of the Union Budget 2017-2018. Again, this is one of the lucrative Govt. schemes that received accolades from many. Real-estate regulation A law or a regulation had to be passed in order to make buying and selling of homes a transparent and a hassle-free process. The checks and balances also have to be maintained by the Housing Regulating Authority in a systematic manner. The draft was prepared and the housing regulation act was passed by Mr.Venkaiah Naidu. The move of the ruling government has brought confidence among homebuyers. We have seen the entire range of Indian government schemes backed up by the inspiring Prime Minister of India, Mr. Narendra Modi.  

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