PIB Summary- 15th July, 2023 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC PDF Download

Atal Vayo Abhyuday Yojana (AVYAY) 

Why in News?
The Ministry of Social Justice and Empowerment, Government of India has been working towards creating an inclusive and equitable society for all its citizens and Atal Vayo Abhyuday Yojana (AVYAY) is one of the Schemes in that direction.

Atal Vayo Abhyuday Yojana

• It is a Central Sector Scheme previously known as National Action Plan for Senior Citizens.
• Its vision is to create a society where senior citizens can live a healthy, happy, and empowered life.
• It has two components:
  • Integrated Program for Senior Citizens (IPSrC): It includes setting up homes to improve the quality of life of senior citizens, especially indigent senior citizens who lack basic amenities.
  • State Action Plan for Senior Citizens (SAPSrC): Each state/union territory is expected to frame its own action plan for the welfare of senior citizens.
• Under IPSrC component, grant in aid is provided to NGOs/Voluntary Organisations (VOs) for running and maintenance of old age homes and Continuous Care Homes.
• Five schemes have been launched under this umbrella scheme:
  • Poshan Abhiyan for the elderly
  • Livelihood and skilling initiatives for senior citizens
  • Scheme on promoting the silver economy
  • Awareness generation and capacity building for the welfare of senior citizens
  • Channelising CSR funds for elderly care.

BHARAT Campaign

Why in News?
Recently, Ministry of Agriculture & Farmers Welfare launched a new campaign for banks under Agriculture Infrastructure Fund titled BHARAT (Banks Heralding Accelerated Rural & Agriculture Transformation). 

BHARAT Campaign

• The BHARAT campaign is a month-long campaign with a target of Rs 7200 crore.
• It aims to actively involve and seek support from members of commercial banks, regional rural banks, small finance banks, NBFCs, and select cooperative banks to promote the Agriculture Infrastructure Fund scheme.

Agriculture Infrastructure Fund

• The Agriculture Infrastructure Fund is a Central Sector Scheme launched in 2020.
• It provides medium to long-term debt financing for viable projects related to post-harvest management infrastructure and community farming assets.
• The scheme offers interest subvention and financial support to promote investment in these areas.
• The duration of the scheme is from FY2020 to FY2032, covering a period of 10 years.

Benefits

• Loans under this financing facility will have an interest subvention of 3% per annum, up to a limit of Rs. 2 crores.
• The interest subvention is available for a maximum period of seven years.
• Eligible borrowers can avail credit guarantee coverage for loans up to Rs. 2 crores from the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme, with the government covering the fee for this coverage.
• For Farmer Producer Organizations (FPOs), credit guarantee coverage can be obtained from the facility created under the FPO promotion scheme of the Department of Agriculture, Cooperation & Farmers Welfare (DACFW).
• The repayment moratorium under this financing facility may vary, with a minimum of 6 months and a maximum of 2 years.