Pradhan Matri Garib Kalyan Yojana & Demonetization

Introduction

Since 2015, Our Prime Minister Shri Narendra Modi has been doing many things for the welfare of our country. He started a number of schemes for the welfare of the Indians. He has visited a number of countries to sign various deals to make our country developed. He started around about 30 schemes like Jhan Dhan Yojana in 2014, Mission housing for urban in 2015, Digital India in 2014, Mudra Bank Yojana in 2015, Beti Bachao, Beti Padhao in 2015, Swachh Bharat in 2014, Pradhan Matri Garib Kalyan Yojana in 2015 and many other.

PMGKY

PMGKY stands for Pradhan Matri Garib Kalyan Yojana. This Yojana was launched in 2015. The objective behind this Yojana is to improve the financial position of the poor people. It is basically a poverty alleviation program. Under this program number of workshops were held.

The Benefits of this scheme

A number of benefits are there for this scheme. As we know that this scheme is valid for BPL families. BPL stands for Below Poverty Line. This scheme provides help to poor people. The main objective of this scheme is to improve the condition of society and remove the poverty from India.

Demonetization Under PMGKY

As we know that from a month ago demonetization is in talks. As Prime Minister banned 500 and 1000 Notes. This is done by The Prime Minister to stop the corruption and malpractices in India. To find out the ratio of black money in our country, our Prime Minister Shri Narendra Modi started this.

Rules of Demonetization

People who have the black money or undeclared income will have to pay taxes with a penalty. All the money which is deposited into the bank is under the eye of Income Tax Officers. The limit to deposit the money is 2.5 lakhs only for one person each. If he tries to do deposit more than 2.5 lakhs, then he will be answerable to Income Tax Department.

How is Demonetization helpful?

As we know that under Demonetization if someone tried to make deposits more than 2.5 lakhs then he will have to pay a penalty around 60% on his deposit amount.The amount collected as the penalty under demonetization drive will be used for the welfare of the poor people.

Conclusion

This Yojana will help to improve the society. A Garib Kalyan Mela in 2015 was conducted in 22 districts of Gujarat. Just because of this Yojana, many poor people got their rights. This scheme is beneficial for BPL and to lift up the poor people and make weaker section strong. The main motive of this scheme is to make our country developing to developed.