Tuesday, May 26, 2015

Clever Arun Jaitley BJP Schemes For 1 Billion Poor
May25, 2015 (C) Ravinder Singh progressindia008@yahoo.com

Watching PM speech broadcast live without interruption it was noticed most of the Schemes of BJP government are nothing but Clever & Misleading.

Here are their real benefits to 100 crore poor. 

1.  Pradhan Mantri Suraksha Bima Yojana

Eligibility: Available to people in age group 18 to 70 years with bank account.
Premium: Rs.12 per annum.
Risk Coverage: For accidental death and full disability - Rs.2 Lakh and for partial disability – Rs.1 Lakh.

Roughly 2.5 lakh people Die in Accidents and 5 lakh people are Disabled in India annually. This requires Rs.10,000 Crores Claims Payment only and GoI collects just about Rs.500 crores as premium. No one dying of natural causes or illness is covered.

Ø    Benefit to Aam Admi Rs.9500 Crores.

2.  Pradhan Mantri Jeevan Jyoti Bima Yojana

Eligibility: Available to people in the age group of 18 to 50 and having a bank account. People who join the scheme before completing 50 years can, however, continue to have the risk of life cover up to the age of 55 years subject to payment of premium.
Premium: Rs.330 per annum. It will be auto-debited in one instalment.
Risk Coverage: Rs.2 Lakh in case of death for any reason.

Death rate in India is 0.7 per 1000 – 8m people die every year but Jeevan Bima is applicable to around 40% population in 18 to 50 years age frame of healthiest or around 1m people die in this group for 50 crore population. So Claims of all eligible shall be Rs.20,000 crores for Rs.15,500 Crore Premium collected.

Ø    Gains to 50 Crore People – Rs.500 Crores.

3.  Atal Pension Yojana

Benefit of APY: Fixed pension for the subscribers ranging between Rs. 1000 to Rs. 5000, if he joins and contributes between the age of 18 years and 40 years. The contribution levels would vary and would be low if subscriber joins early and increase if he joins late.
Age of joining and contribution period: 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.
For example, to get a fixed monthly pension between Rs.1,000 per month and Rs. 5,000 per month, the subscriber has to contribute on monthly basis between Rs. 42 and Rs. 210, if he joins at the age of 18 years.
For the same fixed pension levels, the contribution would range between Rs. 291 and Rs. 1,454, if the subscriber joins at the age of 40 years.

Invest Rs.42/Month for 42 Years Get Rs.80/Month for 10 Years

At minimum premium level of Rs.42 per month at age 18 – beneficiary would be spending Rs.42 per month for 42 years before eligible for Rs.1000 per month pension. REAL VALUE OF PENSION SHALL BE JUST Rs.80 PER MONTH DUE TO RUPEE DEVALUATION OR INFLATION.

Ø    Poor Shall Be Poorer After The End of 42 Year Term

4.  Micro Units Development and Refinance Agency (MUDRA) Bank

NSSO survey of 2013, there are 5.77 crore small business units. Only 4% of such units get institutional finance.
A sum of Rs 20,000 crores would be allocated to the MUDRA Bank from the money available from shortfalls of Priority Sector Lending for creating a Refinance Fund to provide refinance to the Last Mile Financers. Another Rs 3,000 crore would be provided to the MUDRA Bank from the budget to create a Credit Guarantee corpus for guaranteeing loans being provided to the micro enterprises.

Ø    RIL Got Rs.22,000 Crore Bank Credit in FY2014-15 – MUNDRA Allocated UNUTILIZED PRIORITY LENDING for 6 Crore MSME OR JUST RS.20,000 Cr for 6 Cr MSMEs = Rs.3333 Not Rs.10,000 to Rs.10,00,000 Claimed By PM.

5. Financing to Micro, Small and Medium Enterprises (MSMEs)

Loans to Medium Enterprises are being brought under Priority Sector Lending.
A separate sub-limit of 7.5% in Priority Sector Lending is being created for the Micro Enterprises. Micro Enterprise Lending of Rs.150,000 Crore is no improveent.

Ø    Nothing For MSME But Excuse to Allow New Pvt Banks.

6. Priority Sector Lending (PSL)

Total credit extended by Banks in Priority sector Lending is Rs.21,54,356 Crore. There is a need to increase employment, create basic infrastructure and improve competitiveness of the economy, thus creating more jobs.

Ø    Farmers are Not Permitted to Store, Process & Market Their Produce, SME don’t get Intellectual Property Protection Can’t Progress to Global Scale, Micro Enterprises Add No Value To Products. PSL Lending Fail to Contribute to Significantly Improve GDP or Create Regular Jobs.

7.  Banking Reforms

Separation of the post of Chairman and Managing Director
Enabling provision for the appointment as MD & CEO in five major banks, so that wider choice is available
Both Public Sector and Private Sector bankers can apply. Higher salary can be given in appropriate cases
Revamping of present selection system which inter-alia includes structured three separate interviews, allotment of banks on merit-cum-preference basis

Ø    Engineers & Professionals Are Missing in Indian Banking. No Monitoring of Loans Sanctioning Process and Utilization, Preventing Diverting Of Loans to Other Companies, TIMELY RECOVERY OF LOANS and Promoting High-Tech Companies.
8. International Financial Services Centre (IFSC)

An International Financial Services Centre (IFSC) is set up at Gandhinagar, Gujarat as a part of a Special Economic Zone (SEZ).
The key features of these regulations will be that any financial institution (or its branch) set up in the IFSC,-
a) shall be treated as a non-resident Indian located outside India,
b) shall conduct business in such foreign currency and with such entities, whether resident or non-resident, as the Regulatory Authority may determine,
c) subject to certain provisions, nothing contained in any other regulations shall apply to a unit located in IFSC.

Ø    IFSC is Foreign Institution Within India Owned By Locals

9.  New Investment Pattern for Non-Government Provident Funds -

Government notifies the Investment Pattern for Non-Government Provident Funds, Superannuation Funds and Gratuity Funds.
The revised investment pattern has been finalised and is being notified shortly.
Providing minimum and maximum limits for Central Government Securities, State Government Securities, Government Guaranteed Securities 
(with a separate maximum limit of not in excess of 10%) and units of gilt Mutual Funds, forming part of a single category and allowing investment up to 50% of the investible funds, instead of 55% under the earlier Investment Pattern of 2008;
Providing a minimum investment ceiling for the categories of (a) Government Securities, (b) debt securities and (c) the equity and equity related instruments;

Ø     Scheme to Use Non Government PF for Largely Private Companies Who Don’t Raise Funds Through IPOs.

Nothing Serious for 100 Crore Poor Indians

Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
Water, Energy Saving, Agriculture, Manufacturing, Technologies and Project.
Beyond The Finish Line puts Indian Swimming in the Spotlight
At the backdrop of the TCS World 10K Bengaluru Run 2015, Procam International and GoSports Foundation host the fourth edition of Beyond The Finish Line
Beyond The Finish Line – a joint initiative by Procam International and GoSports Foundation – brings together sporting greats of the past, present and future for an event aimed at showcasing the untold stories of Indian sport.

This edition of BTFL turned the spotlight on some of the success stories in Indian swimming. Beijing Olympian and Asian Games 2014 Bronze medallist Sandeep Sejwal, and India’s best Paralympic swimmer Sharath Gayakwad shared their sporting stories with the guests at the event. Not just this, the guests also got to meet the unsung heroes in these champion athletes’ lives – their coaches, families, and support system at school. The evening also featured a keynote address delivered straight from the heart by three-time Olympic gold medallist Marie-José Pérec, driving home the point that sportspersons had no right whatsoever to waste the sporting talent they are blessed with.

International event ambassador and three-time Olympic Gold medallist Marie-José Pérec
delivers the keynote address

Actor, director, social activist and sportsman Rahul Bose, the host for the evening, skilfully elicited personal anecdotes from the panellists. Sandeep’s mother and sister recounted their daily struggles to reach the swimming pool on time, on cold Delhi mornings. Sharath’s family shared how their initial apprehensions about their son’s mandatory swimming lessons at school quickly turned into relief once they saw him take to the water like a fish. Also among the swimmers was Supriya Mondal, born in a small fishing village in West Bengal, who began his journey as a swimmer in a small tank in his village, and today is a mere 3 seconds away from being the first Indian swimmer to qualify for Rio 2016. The videos highlighting the stories of these champion swimmers truly put in perspective their progress and what their success could mean for Indian sport in years to come.
 (l-r) Host Rahul Bose with champion swimmers Sandeep Sejwal,
Supriya Mondal and Sharath Gayakwad

Watch the telecast of Beyond The Finish Line on NDTV on Sunday, May 31, 2015 at 3:30 pm.

Follow Beyond The Finish Line on Facebook and Twitter.
Growing family of GoSports Foundation runners at TCS World 10K 2015
The TCS 10K Bengaluru saw an unprecedented number of runners supporting GoSports Foundation this year. Almost 500 employees of LG Soft IndiaBI Worldwide IndiaCareweland other individual runners dotted the stretch during the Open 10K as well as the Majja run, enthusiastically brandishing flags, banners and placards in support of India’s Future Olympians.

We at the Foundation would like to extend our heartfelt thanks for the overwhelming support. Our young athletes need all the backing they can get.
Once again, thank you!
Our Partners
To be part of the revolution in Indian sport and help groom more champions, support GoSports Foundation's Athlete Development Programmes. Write to us at foundation@gosports.in, or call us on +91 80 4204 8046. 
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