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Finance Ministry highlights achievements during past 6 months

Press Trust of India  |  New Delhi 

The Finance Ministry today highlighted its achievements during the past six months including Pradhan Mantri Jan-Dhan Yojana (PMJDY), Varishtha Pension Bima Yojana (VPBY) and actions taken to curb black money.

The new government has, after taking over reins of power in May, 2014, constituted a Special Investigating Team (SIT) to implement the decision of the Supreme Court on large amount of money stashed abroad by evading taxes or generated through unlawful activities, the Ministry said in a presentation.

It added that India has joined global efforts to combat tax evasion, including supporting implementation of a uniform global standard on Automatic Exchange of Information on a fully reciprocal basis, facilitating exchange of information regarding persons hiding money in offshore centres.

Under PMJDY, the government aimed to open 7.5 crore accounts by January 26, 2015. The target has now been revised to 10 crore.

"As on December 23, 2014, 9.91 crore accounts have been opened under PMJDY...As on December 1, states of Goa, Kerala, Tripura and Madhya Pradesh, Union Territories of Chandigarh, Puducherry and Lakshadweep have achieved 100 per cent Saturation (all households with at least one bank account)," it said.

The government has launched VPBY for the benefit of the vulnerable section of society with limited resources. A monthly pension ranging from Rs 500 to Rs 5,000 per month will be provided to senior citizens of the country.

The government re-launched the Kisan Vikas Patra (KVP)to attract investment of people for small savings scheme. The certificate can also be pledged as security to avail loans from the banks and in other case, where security is required to be deposited.

A Swachh Bharat Kosh (SBK) has been set up to attract Corporate Social Responsibility (CSR) funds from corporate sector and contributions from individuals and philanthropists to achieve the objective of Clean India (Swachh Bharat) by the year 2019.

Also, a 'Nirbhaya Fund' with a corpus of Rs 2,000 crore has been created ensure dignity and safety of girl children and women.

To provide a fillip to capital goods and automobile sector, the duty concessions have been extended up to December 31 on small cars, motorcycles, scooters, three wheelers and commercial vehicles to 8 per cent, mid-segment cars to 20 per cent, large cars to 24 per cent and SUVs to 24 per cent.

First Published: Sun, December 28 2014. 13:35 IST