Wednesday, 9 August 2017

IMPORTANT GOVERNMENT SCHEMES 09/08/2017



Schemes or Government Initiatives

Electoral Bonds

 Introduced by Finance Minister during his Budget 2017 speech in order to bring some transparency to the electoral funding process.
 Authorised under a scheme under the Income Tax Act.
 It will open for a limited period of time during the elections, or maybe a little before the elections.
 These bonds can be donated only to a political party.
 These are redeemable in only one account of that party, registered with the Election Commission.

Border haats (Border Markets)

 The border haats are markets that aim at promoting the wellbeing of the people dwelling in remote areas across the borders of two countries.
 Establishing traditional system of marketing the local produce through local markets.
 The Border Haats allows to people living in border areas to trade in specified
products in accordance with the regulations agreed and notified by both
Governments.
 Presently 4 Border Haats are already operational along India-Bangladesh border. They are (i) Kalaichar (Meghalaya). (ii) Balat (Meghalaya). (iii) Kamlasagar (Tripura)
(iv) Srinagar (Tripura).

Sovereign Gold Bond Scheme (SGBs)

 SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold.
 The Sovereign Gold Bonds will be available both in demat and paper form.
 The tenor of the bond is for a minimum of 8 years with option to exit in 5th, 6th and 7th years.
 Bonds can be used as collateral for loans.
 Minimum - 1 gram, Maximum – 500 grams.
 Tradable through National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
 Fixed Interest rate of 2.5% per annum payable once in 6 months.
 Capital Gains Tax exempted on redemption.

BHIM (Bharat Interface for Money)

 BHIM is Aadhaar-based payments app developed by the National Payment
Corporation of India (NPCI).
 It can work even on basic phones as it supports USSD payments.
 All major UPI connected Indian banks accepts money through BHIM app.
 The app also allows user to scan a QR code. Payment can be done through scanning QR code.



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