A National Savings Certificate with insurance cover will also be launched to provide additional benefits for the small saver.
President the Union Budget for 2014-15 in the Parliament, the Finance Minister also announced re-introduction of Kishan Vikas Patra (KVP) and enhancement of ceiling in PPF scheme from Rs one lakh to Rs 1.5 lakh per annum.
Govt launches ‘Beti Bachao, Beti Padhao’ scheme
Prime Minister Narendra Modi-led government introduced a new scheme called ‘Beti Bachao, Beti Padhao’, which will help in generating awareness and improving the efficiency of delivery of welfare services meant for women with an initial corpus of Rs 100 crore.
The Finance Minister announced that the government would focus on campaigns to sensitize people of this country towards the concerns of the girl child and women.
He said the process of sensitization must begin early and therefore the school curriculum must have a separate chapter on gender mainstreaming.
Sharing the concerns of the members on women’s safety, the Finance Minister informed the House that the Ministry of Road Transport and Highways will spend Rs 50 crore on pilot testing a scheme for safety of women on public road transport. Similarly, the Ministry of Home Affairs will spend Rs 150 crore on a scheme to increase the safety of women in large cities.
The Finance Minister also proposed to set up Crisis Management Centres for women in Delhi.
“The funding will be provided from the Nirbhaya Fund,” he added.
Housing for all by 2022
The Finance Minister said the government is committed to provide housing for all by 2022 by extending additional tax incentive on home loans to encourage people, especially the young, to own houses. It has proposed to set up a Mission on Low Cost Affordable Housing to be anchored in the National Housing Bank.
The Finance Minister informed the Lok Sabha while presenting the General Budget for 2014-15 that a sum of Rs 4,000 crore has been earmarked for National Housing Bank with a view to increase the flow of cheaper credit for affordable housing to the urban poor/EWS/LIG segment.
He added that the government has already outlined some other incentives such as easier flow of FDI in this sector and is willing to examine other positive suggestions. He also informed the inclusion of slum development in the list of Corporate Social Responsibility (CSR) activities to encourage the private sector to contribute more towards this activity.
The Finance Minister informed that the Rural Housing Scheme has benefited a large percentage of rural population who have availed credit through Rural Housing Fund (RHF). In the light of the above, enhanced allocations to the tune of Rs 8,000 crore has been made for National Housing Bank (NHB) for the year 2014-15 to expand and support Rural Housing in the country.
Meanwhile, asserting on the need to pay serious heed to restructure backward regions, he said, “Government will streamline Backward Regions Grant Fund to fill the critical gap in capacity building in identified backward districts.”
The Finance Minister also announced schemes for the disabled and said 15 new Brail presses will be set up.
"Fifteen new Brail presses will be established and 10 existing ones will be revived," he said.