Ujjwala Yojana, Mudra Yojana, Jan Dhan Yojana: Modi govt's flagship economic schemes as it completes 12 years in power

Modi govt's flagship economic schemes as it completes 12 years in power(HT_PRINT)AI Quick ReadPrime Minister Narendra Modi reached a historic milestone on Wednesday, 10 June, becoming India's longest-continuously serving elected prime minister. By completing 4,399 consecutive days in office today, PM Modi has surpassed the previous record of 4,398 days held by India's first prime minister, Jawaharlal Nehru.

This milestone of PM Modi becoming the longest-continuously serving elected prime minister coincides with the 12th anniversary of the National Democratic Alliance (NDA) government.

To commemorate this achievement, PM Modi will chair a high-level conclave at the Bharat Mandapam in New Delhi. Chief Ministers, Deputy Chief Ministers, and senior leadership from all NDA-ruled states and Union Territories will attend it.

As PM Modi achieves the historic first and the NDA completes 12 years in power, we have compiled a list of a few economic schemes launched by the BJP-led government over the past 12 years.

PM Modi announced Pradhan Mantri Jan Dhan Yojana (PMJDY) on 15 August 2014, during an address to the nation from the ramparts of the Red Fort. It was launched on 28 August. Pradhan Mantri Jan Dhan Yojana is a national mission for financial inclusion that provides banking services to all households in the country.

It ensures access to a range of financial services, including basic savings bank accounts, need-based credit, remittance facilities, insurance, and pensions.

The Make in India scheme was launched to facilitate investment, innovation, enhance skill development, build best-in-class manufacturing infrastructure, and encourage companies to make products in India.

According to PMIndia, the initiative is based on four pillars identified to boost entrepreneurship in India, not only in manufacturing but also in other sectors – new processes, new infrastructure, new sectors, and a new mindset.

New Processes: Under this, the Central government took several initiatives to ease the business environment, including de-licensing and de-regulating the industry throughout the life cycle of a business.

New Infrastructure: Under this pillar, the government intended to develop industrial corridors and smart cities to provide infrastructure based on state-of-the-art technology, with modern high-speed communication and integrated logistics.

New Sectors: ‘Make in India’ identified 25 sectors across manufacturing, infrastructure, and service activities, and detailed information is being shared through an interactive web portal and professionally developed brochures.

New Mindset: Under this, the government intended to partner with industry to drive the country's economic development.

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched on 8 April, 2015 to provide collateral-free loans up to ₹20 lakh to support small-scale business ventures for non-corporate, non-farm income-generating activities.

Commercial Banks, RRBs, Small Finance Banks, MFIs, and NBFCs provide loans. The borrower can approach any of the lending institutions mentioned above or can apply online through this portal www.udyamimitra.in.

So far, as many as 39,701,047 PMMY loans worth ₹180,528.54 crore have been sanctioned under this scheme.