PRADHAN MANTRI AWAS YOJANA (PMAY)


Objective-PMAY & PMAY (Gramin) are launched to achieve Housing for All by 2022 Mission

Important Points
1. Construct two crore houses across the nation.
2. Central grant of Rs. one lakhs per house, on an average, will be available under the slum rehabilitation programme. 

3. Program will be implemented into three phase April 2015 - March 2017, April 2017 - March 2019 and April 2019 - March 2022


NATIONAL PENSION SCHEME


Objective of this scheme is to provide retirement income to all the citizens

Important points
1. ELIGIBILITY-All citizens of India between the age of 18 and 60 years can join this plan.
2. NPS is administered by the PFRDA(Pension Fund Regulatory And Development Authority)
3. NPS is divided into  tier-I NPS account, Tier-ii NPS account, NPS - Swavalamban scheme
Tier I Account - Under this account, withdrawals are not allowed. It is solely meant for savings after the subscriber’s retirement.

Tier II Account - Under this account, a subscriber is free to make as many withdrawals as he or she likes at any time, similar to a regular savings account.

Swavalamban Account - In this account the Indian government contributes a sum of Rs 1,000 every year over the initial four years. The purpose of this account is to provide encouragement for workers of poor economic standing.

4. All existing members of the government's 'Swavalamban yojana ' will automatically be migrated to the Atal pension yojana. It will now replace the Swavalamban scheme

5. It provides a PRAN(permanent retirement account number)and it remains with the subscriber throughout his lifetime.

6. Flexible- NPS offers a range of investment options and choice of pension fund manager (pfms)

PRADHAN MANTRI MUDRA YOJANA(PMMY)

Full form of mudra -Mudra - Micro Units Development & Refinance Agency
Main aim of this scheme is To make youth job creators and not job seekers
This scheme help in  “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them

Important point
1. It enables a small borrower to borrow loan for non-farm income generating activities.
2. 3 types of loans to be allotted by MUDRA
(i) Shishu-covering loans up to 50,000/-
(ii) Kishor-covering loans above 50,000/- and up to 5 lakhs
(iii) Tarun-covering loans above 5 lakhs and up to 10 lakhs
3.There is no subsidy for the loan given under PMMY.