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Top 10 New Schemes Explained

Abheet Singh Sethi,
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The 2015 Union Budget presented by Finance Minister Arun Jaitley saw the introduction of new schemes across multiple sectors.


The list is topped by Micro Units Development Refinance Agency (MUDRA) Bank with an initial corpus of Rs. 20,000 crore and a credit guarantee corpus of Rs 3,000 crore. MUDRA bank will act as a re-finance agency providing lending priority to SC/ST businesses through the Pradhan Mantri Mudra Yojana (Prime Minister’s Micro Units Development Programme).


National Investment and Infrastructure Fund (NIIF) will be provided Rs 20,000 crore for boosting infrastructure investments.


Pradhan Mantri Krishi Sinchai Yojana (Prime Minister’s Irrigation Programme) has been allocated Rs. 1,800 crore. The programme will provide support to micro-irrigation and watershed development. This will also cover the ‘per drop more crop programme’ under the department of agriculture and co-operation.


Another important scheme for agriculture is the Paramparagat Krishi Vikas Yojana (Traditional Farming Improvement Programme) that has been allocated Rs 300 crore.


The newly formed Ministry for Skill development has been allocated Rs. 1,500 crore (see IndiaSpend article).


Several new schemes have been launched focusing on pensions and insurance.


Sr. No. Programme Name Sector Allocation
1 Micro Units Development Refinance Agency (MUDRA) Bank Industry 20000
2 National Investment and Infrastructure Fund (NIIF) Infrastructure 20000
3 Pradhan Mantri Krishi Sinchai Yojana Agriculture 1800
4 Kaushal Vikas Yojana Skill Development 1500
5 Self-Employment and Talent Utilization Planning 1000
6 Paramparagat Krishi Vikas Yojana Agriculture 300
7 Van Bandhu Kalyan Yojana Tribal Affairs 200
8 Atal Innovation Mission (AIM) Planning 150
9 Rashtriya Swasthya Bima Yojana Health 100
10 Pravasi Kaushal Vikas Yojana Overseas Indians 20

Source: Union Budget, 2015; Figures in Rs crore




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