Schemes or Government Initiatives
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
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.