PM Narendra Modi Birthday: Top 10 Schemes introduced by PM Modi and their benefits


Prime Minister Narendra Modi, born on September 17, 1950, is celebrating his 72nd birthday today (Saturday, September 17, 2023). Narendra Modi took the oath for the first time as the Prime Minister of the country on 26 May 2014. Modi yet again became the PM, taking oath for the second time in May 2019. The Modi government has launched over two dozen people-centric schemes ever since coming to power.

Here is looking at 10 flagship schemes launched by the Narendra Modi government that has help to accelerate the pace of reform and transform the lives of people in the country.

Pradhan Mantri Jan-Dhan Yojana

Pradhan Mantri Jan-Dhan Yojana (PMJDY) was announced by Prime Minister, Shri Narendra Modi in his Independence Day address on 15th August 2014. While launching the programme on 28th August, the Prime Minister had described the occasion as a festival to celebrate the liberation of the poor from a vicious cycle. Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. As of August 2021 data, more than 43.04 crore beneficiaries were banked under PMJDY since inception, amounting to Rs. 146,231 crore.

Pradhan Mantri Ujjwala Yojana (PMUY)

Pradhan Mantri Ujjwala Yojana (PMUY) was launched on May 01, 2016 while the Ujjwala 2.0 was launched on August 10, 2021. Through PMUY, the government aimed to safeguard the health of women and children by providing them with clean cooking fuelfuel. Under the scheme, Deposit-free LPG connection is given to the eligible household with financial assistance of Rs 1,600 per connection. Free of cost first LPG refill and gas stove is provided for the first time by public sector Oil Marketing Companies (OMCs). As per government estimate in 2023, LPG coverage has improved to 104.1 percent in 2023 as compared to 62  percent in 2016. Over 9 crore deposit-free LPG connections have been distributed under PMUY in last 6 years.

Startup India

Startup India, the flagship initiative was launched by the Modi Government in January 2016. The aim to launch Startup India was to build a strong eco-system for nurturing innovation and startups in the country that would drive economic growth and generate large scale employment opportunities. The Government through this initiative aimed to empower startups to grow through innovation and design. Data as per April 2023 showed that Startups have grown from 471 in 2016 to 72,993 in 2023.

Standup India scheme

Modi government also launched the Standup India scheme in April 2016 to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation. The objective of Stand-Up India is to promote entrepreneurship amongst women, Scheduled Castes (SC) & Scheduled Tribes (ST) categories, to help them in starting a greenfield enterprise in manufacturing, services or the trading sector and activities allied to agriculture. It aims to facilitate bank loans from Scheduled Commercial Banks (SCBs) between Rs.10 lakh to Rs.1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) and one woman per bank branch for setting up a greenfield enterprise in trading, services or manufacturing sector. Data as per April 2023 showed that more than Rs 30,160 crore loans sanctioned to over 1,33,995 accounts under Stand-Up India Scheme in 6 years.


PM-KISAN is a central sector scheme launched on 24th February, 2019 to supplement financial needs of land holding farmers. Financial benefit of Rs 6000 per year in three equal installments, every four month is transferred into the bank accounts of farmers’ families across the country through Direct Benefit Transfer (DBT) mode. The scheme was initially meant for small and marginal farmers (SMFs) having landholding upto 2 hectares but scope of the scheme was extended to cover all landholding farmers with effect from 01.06.2019.

Atal Pension Yojana

Atal Pension Yojana (APY) is the flagship social security scheme of the Narendra Modi government. Launched on May 9, 2015 by Prime Minister Narendra Modi, the APY aims at delivering old age income security particularly to the workers in the unorganised sector. APY can be subscribed by any Indian citizen in the age group of 18-40 years having a bank account. APY is a government scheme administered by PFRDA through NPS architecture. The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more. First, it provides a minimum guaranteed pension ranging from Rs 1000 to Rs 5000 on attaining 60 years of age. Secondly the amount of pension is guaranteed for lifetime to spouse on death of the subscriber. Third, in the event of death of both the subscriber and the spouse, entire pension corpus is paid to the nominee. APY has pre-defined monthly contributions. Under the APY, the subscribers would receive the fixed pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would vary on the age of joining the APY.

Prime Minister Street Vendor’s AtmaNirbhar Nidhi Scheme

Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched by the Ministry of Housing and Urban Affairs, on June 01, 2020 for providing affordable Working Capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown. In April this year, the CCEA approved the continuation of lending under the PM SVANidhi  beyond March 2023 till December 2024, with focus on enhanced collateral free affordable loan corpus, increased adoption of digital transactions and holistic socio-economic development of the Street Vendors and their families.

Pradhan Mantri MUDRA Yojana

Pradhan Mantri MUDRA Yojana (PMMY) was launched by the Prime Minister Narendra Modi on 8th April, 2015, for providing loans up to Rs. 10 Lakh to the non-corporate, non-farm small/micro enterprises. Under PMMY loans are provided up to Rs. 10 Lakh through Member Lending Institutions (MLIs) viz; Banks, Non Banking Financial Companies (NBFCs), Micro Financial Institutions (MFIs), other financial intermediaries, in three categories namely, ‘Shishu’, ‘Kishore’ and ‘Tarun’ which signifies the stage of growth or development and funding needs of the borrowers.

Shishu : covering loans up to  Rs. 50,000

Kishore : covering loans above  Rs. 50,000 and up to Rs. 5 lakh

Tarun : covering loans above  Rs. 5 lakh and up to Rs. 10 lakh

Pradhan Mantri Jeevan Jyoti Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMSBY) and Pradhan Mantri Suraksha Bima Yojana (PMJJBY) are two schemes launched in 2015 by the Modi government that aims to provided affordable insurance and security to people. PMJJBY and PMSBY provide access to low cost life/accidental insurance cover to the people. PMJJBY is a one-year life insurance scheme renewable from year to year offering coverage for death due to any reason. Individuals in the age group of 18-50 years having a savings bank or a post office account are entitled to enroll under the scheme. People who join the scheme before completing 50 years of age can continue to have the risk of life covered up to age of 55 years upon payment of premium. Life cover of Rs. 2 Lakh in case of death due to any reason against a premium of Rs. 330/- per annum.

Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Suraksha Bima Yojana (PMSBY). PMSBY is a one-year accidental insurance scheme renewable from year to year offering coverage for death or disability due to accident. Individuals in the age group of 18-70 years having a savings bank or a post office account are entitled to enroll under the scheme. Accidental death cum disability cover of Rs.2 lakh (Rs.1 lakh in case of partial disability) for death or disability due to an accident.

Sovereign Gold Bond Scheme

The sovereign gold bond scheme was launched in November 2015, with an objective to reduce the demand for physical gold and shift a part of the domestic savings — used for the purchase of gold — into financial savings. Sovereign Gold Bond Scheme are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by Reserve Bank on behalf of Government of India. The Bonds are restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.



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