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GOVERNMENT POLICIES AND SCHEMES - October 2023

Oct 2023

Oct 05, 2023

PM SVANidhi Scheme Surpasses 50 Lakh Beneficiaries Mark

  • The Prime Minister Street Vendor's AtmaNirbhar Nidhi, or PM SVANidhi scheme, achieved a significant milestone by providing assistance to over 50 lakh street vendors across the country. Street vendors have long been essential contributors to the urban informal economy, offering vital goods and services to urban residents.
  • Administered under the Ministry of Housing and Urban Affairs, this scheme has been instrumental in integrating street vendors into the formal economic sector, offering them new opportunities for upward mobility.
  • Launched on June 1, 2020, the PM SVANidhi Scheme is a micro-credit initiative aimed at providing collateral-free working capital loans of up to 50 thousand rupees to urban street vendors.

Oct 02, 2023

Women's Reservation Bill Gets President's assent

  • President Droupadi Murmu has given her assent to the women's reservation bill which seeks to provide 33 per cent reservation to women in the Lok Sabha and state assemblies.
  • Now, it will be officially known as the Constitution (106th Amendment) Act.
  • According to its provision, it shall come into force on such date as the central government may, by notification in the Official Gazette, appoint.
  • The law will take some time before being implemented as the next census and the subsequent delimitation exercise - redrawing of Lok Sabha and assembly constituencies - will ascertain the particular seats being earmarked for women.
  • The quota for women in the Lok Sabha and assemblies will continue for 15 years and Parliament can later extend the benefit period.

Oct 01, 2023

Centre extends RoDTEP Scheme Nine Months

  • Amid faltering exports and tepid external demand, the Centre extended the tenure of the export-boosting scheme Remission of Duties and Taxes on Exported Products (RoDTEP) for nine more months.
  • The scheme has now been extended until June 30, 2024 at the same rates for the existing export items.
  • The RoDTEP scheme, which refunds the embedded non-creditable central, state, and local levies paid on inputs to exporters, was due to expire on September 30. These taxes were not being refunded but were incurred by the export entities in the process of manufacture and distribution of exported products.
  • The scheme, notified on January 1, 2021, replaced the controversial Merchandise Exports from India Scheme (MEIS) after a World Trade Organisation (WTO) ruling stated that it violated the provisions of the global trade body by providing export subsidies for a wide range of goods.
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