#Abhay Yojana

[lawtoppers]

Maharashtra Stamp Duty Amnesty Scheme 2024: Key Details and Benefits

Discover the Maharashtra Stamp Duty Abhay Yojana 2024, offering significant relief on deferred stamp duty payments for property documents. Learn about the implementation phases, eligibility, and how to avail the benefits

Maharashtra Stamp Duty Amnesty Scheme 2024 Maharashtra Stamp Duty Amnesty Scheme 2024 Stamp Duty and Registration Charges in Maharashtra The Maharashtra government has introduced an amnesty scheme under the Maharashtra Stamp Act to provide relief for deferred stamp duty payments on deeds registered or unregistered between January 1, 1980, and December 2020. This scheme, known as the Maharashtra…

[6nikhilum6]

Over 5,500 Consumers in Western Maharashtra Opt for MSEDCL's 'Abhay Yojana' to Clear Power Arrears

Pune, 21st September 2024: The ‘Abhay Yojana’ launched by Maharashtra State Electricity Distribution Company Limited (MSEDCL) has seen participation from 5,538 electricity consumers in Western Maharashtra, seeking relief from arrears. This scheme, which allows consumers to restore their power supply by paying only the original dues either in a lump sum or in six installments, has proven to be…

[charcha-equity]

Budget 2024 Breakdown: Your Simple Guide To Economic News

Union Finance Minister Nirmala Sitharaman, in a highly anticipated move, took center stage to present the Interim Budget for the fiscal year 2024-25. Beyond the seemingly complex figures and economic intricacies, this budget stands as more than a numerical list; it unfolds as a comprehensive roadmap, meticulously charting the course for India's economic future. Rather than drowning in finance jargon, let's embark on a simplified journey to dissect the crucial takeaways, making the fiscal landscape more accessible for beginners.

Budgeting For Growth

In the upcoming fiscal year, the government plans to borrow around ₹14.13 trillion. It might sound like a massive amount, but it's basically how the government manages its money for expenses and investments. Think of it as a smart strategy to boost the country's economy. They're not just splurging; they're making calculated moves to help different parts of the economy grow. It's like a big plan to ensure that the country's finances stay strong and steady for the long run.

Also Read: Unraveling The Intricacies Of Cost Of Funds And Cost Of Borrowing

Agricultural Triumphs

In the budget presentation, one standout achievement was underscored - the success of crucial schemes like the PM-Kisan Samman Yojana, which has brought tangible benefits to a staggering 11.8 crore farmers across the nation. Picture this as a domino effect in action; the financial assistance provided doesn't just stop with the farmers; it cascades down, creating a ripple effect that significantly bolsters the entire agricultural sector. 

Furthermore, the implementation of the Electronic National Agricultural Market serves as a transformative force, seamlessly integrating 1,361 Mandis and revolutionizing the way agricultural trade operates. This isn't merely administrative efficiency; it's a strategic move that promises to enhance the overall dynamics of the agricultural landscape, making it more robust and responsive to the needs of the farmers and the market alike.

Fiscal Responsibility

The fiscal deficit goal for FY25 at 5.1% reflects the government's dedication to prudent financial management, a cornerstone for economic stability. Drawing a parallel to personal finance, envision it as diligently setting a budget to prevent exceeding one's income. In essence, the disciplined approach mirrors an individual's commitment to financial responsibility. This fiscal prudence is not just a numerical target; it signifies a crucial strategy ensuring the long-term sustainability of India's economy, echoing loudly throughout the key themes of the budget presentation.

Taxing Matters

While there are no changes in tax slabs, Sitharaman assured continued support for startups and extended tax exemptions for specific units till March 2025. It's a strategic move to fuel entrepreneurial spirit without burdening individual taxpayers.

Also Read: How Are NBFCs Tackling RBI’s Stance On Unsecured Loans?

Inclusive Development Initiatives

Direct Benefit Transfer of Rs. 34 lakh crore into PM-Jan Dhan accounts is a noteworthy achievement. This isn't just about numbers; it signifies the government's dedication to 'Sabka Sath Sabka Vikas,' ensuring every citizen reaps the benefits of economic progress.

Parimal Heda, Chief Investment Officer, Digit General Insurance, views the budget as aligning with the goal of 'Viksit Bharat by 2047.' Though not directly impacting the insurance sector, the budget's measures will have a cascading effect, influencing various sectors.

Infrastructure Boost

GST enabling One Nation One Market One Tax simplifies the taxation structure, creating a unified market. This, coupled with tax reforms and a strengthened financial sector, lays the foundation for sustainable economic growth.

Also Read: Abhay Bhutada Shares Insights on Poonawalla Fincorp’s Long-Term Objectives

Conclusion

As a beginner investor, dissecting the budget might seem overwhelming, but understanding the basics can be empowering. The Interim Budget 2024 is not just about numbers on paper; it's a blueprint for a resilient, sustainable, and inclusive economic future. So, buckle up and stay tuned for the financial journey ahead!

[mdhulap]

महाराष्ट्र मुद्रांक शुल्क अभय योजना दोन टप्प्यात राबविण्यात येणार - Maharashtra Stamp Duty Abhay Yojana will be implemented in two phases

[neethypaksham]

MP Assembly Elections: Cong Manifesto Promises to Buy Cow Manure, Farm Loan Waiver, IPL Team | NewsClick

MP Assembly Elections: Cong Manifesto Promises to Buy Cow Manure, Farm Loan Waiver, IPL Team

The party launched its Vachan Patra on Tuesday at Bhopal; the 106-page long manifesto has 59 promises, including unemployment allowance for youth

Bhopal: Cow manure at Rs 2/kilo, health insurance cover up to Rs 25 lakh, paddy Minimum Support Price (MSP) at Rs 2,500 per quintal and wheat at Rs 2,600 per quintal, an Indian Premier League (IPL) team of the state, are some of the promises the Congress has made in its manifesto 'Vachan Patra'.

The Congress party launched its Vachan Patra on Tuesday at Bhopal's Ravindra Bhawan ahead of the Assembly polls in Madhya Pradesh due on November 17 this year. The votes will be counted on December 3.

"We tried to cater to the needs of all sections of society in the manifesto," said Kamal Nath, launching Vachan Patra. "It was prepared after long hours of meetings, and we will fulfil the promises."  

The cow manure scheme was adopted from Chhattisgarh, and health insurance up to Rs 25 lakh from Rajasthan.

In the media briefing, Congress reiterated its previous promises, including implementation of the Old Pension Scheme (OPS), caste census, farm loan waiver up to Rs 2 lakh, farmers' power bill waiver, 27% reservation to  Other Backward Classes (OBCs), financial assistance of Rs 1,500 a month to women, subsidies electricity, financial assistance of Rs 500 to 1,500 to school students, LPG at Rs 500, fill two lakh vacant posts including backlogs and others.

The 106-page manifesto has 59 promises, including unemployment allowance for youth ranging from Rs 1,500 to Rs 3,000 per month for two years, Rs 1.1 lakh to girls under Beti Vivah Yojana, Rs 25,000 remuneration to journalists and others. Loans for women entrepreneurs, housing for rural homeless women, and free transportation on metropolitan bus services. 

The Congress has also promised to make laws ensuring nine guaranteed rights, including Right to water, right to health, right to electricity, right to education, right to fertilisers, right to home, right to income, right to employment and right to social justice.��  

When asked what is new in the 2023 Manifesto, the manifesto committee head, Rajendra Singh, said, "Health insurance scheme, fixed MSP on wheat and paddy, monthly stipend to school students between 1 to 12, formation of probe panel to look into the corruption cases of recruitment." 

When asked whether these schemes are financially feasible when the state has a debt of over Rs 4 lakh crore, he replied, "When we announced farm loan waiver, the then finance minister Jayant Malaiya had said that the government coffer is empty, how they would do it. But the 15-month of Congress government waived off farm loan of 27 lakh farmers. We have only announced those schemes which are financially feasible and taken help from experts." 

When asked whether the Congress government would review the last six months' announcements of the present government, Congress national spokesperson Abhay Dubey said, "Every government reviews the last six months of functioning and announcements when came to power. We would do the same if voted to power." 

Commenting on the manifesto, political expert Arun Dixit said that with populist announcements, the Congress has tried to make everyone happy. "From cow, religion, farmer, women, youth, old age, the Congress is trying to pamper every section of the society." 

"The Kamal Nath government is said to have proposed the formation of Vidhan Parishad in the first cabinet," he said, adding that the kind of announcements the Congress has made would be difficult for the Bharatiya Janata Party (BJP) to counter. 

The Congress has released a list of 144 candidates, and the incumbent BJP has released a list of 136 candidates. 

In a media briefing, an hour after Congress launched its manifesto, BJP's state president, VD Sharma, said, "It's a bundle of lies. Instead of offering anything that they have promised in the manifesto, they would wrest the money poor." 

Chief Minister Shivraj Singh Chouhan said, “Kamal Nath made 900 promises five years back but did not implement even nine of them. People do not trust Congress and know the BJP fulfils its promises. The Congress will not be able to mislead people.” 

Madhya Pradesh, Rajasthan, Telangana, Chhattisgarh, and Mizoram are going to polls between November 7 and 30, while the results will be declared on December 3. This is the last major electoral exercise ahead of the 2024 national elections.

With 29 Lok Sabha and 11 Rajya Sabha seats, the Congress hopes to return to power in Madhya Pradesh. The party has set a target of winning 150 of the 230 seats in the state. The Congress, which came to power after 15 years of BJP rule in 2018, lost power to the BJP in March 2020 after 22 legislators defected to BJP with Jyotiraditya Scindia.

[bharatlivenewsmedia]

Thane: TMC announces Abhay Yojana; Waive off 100% administrative charges on overdue domestic water bills

https://bharatlive.news/?p=152781 Thane: TMC announces Abhay Yojana; Waive off 100% administrative charges on overdue domestic water bills

The

[24taasmarathi]

Abhay Yojana Maharashtra 2023 अभय योजना महाराष्ट्र थकबाकीतून मुक्त होण्याची संधी ?

Abhay Yojana Maharashtra 2023

Abhay Yojana Maharashtra https://www.24taasmarathi.com/abhay-yojana-maharashtra-2023/

नमस्कार मित्रांनो ,आज आपण पाहणार आहोत कि अभय योजना 2023, या योजनेविषयी संपूर्ण माहिती पाहणार आहोत. मित्रांनो तुम्हांला या योजनेचा लाभ घ्यायचा असेल तर हा लेख तुमच्यासाठी महत्वपूर्ण असणार आहे.चला तर मग मित्रांनो पाहुयात ,काय आहे अभय योजना आणि त्यासाठी काय लागणार आहे, कोण या योजनेचा लाभ घेऊ शकतील, सर्वात महत्वाचं म्हणजे या योजनेचा लाभ कसा घेता येईल इत्यादी सर्व माहिती आपण या लेखात पाहणार आहोत.

अभय योजना काय आहे ?

श्री विलासराव देशमुख अभय योजना 2023 बद्दल

योजनेअंतर्गत, सरकार ग्राहकांना एकाच वेळी मूळ रक्कम जमा केल्यावर 100% व्याज आणि विलंब शुल्क माफी देणार आहे . ज्या ग्राहकांकडे हाय टेन्शन कनेक्शन आहेत त्यांना अतिरिक्त 5% सूट मिळेल.

या योजनेनुसार आर्थिकदृष्ट्या दुर्बल घटकांतील जे थकीत अर्जदार ३० एप्रिल २०२३पर्यंत संपूर्ण रकमेचा भरणा करतील, अशा अर्जदारांचे १०० टक्के विलंब शुल्क माफ करण्यात येईल व अल्प उत्पन्न गटातील जे अर्जदार या तारखेपर्यंत संपूर्ण रकमेचा भरणा करतील, अशा अर्जदारांचे एकूण विलंबशुल्काच्या २५ टक्के एवढे विलंब शुल्क माफ करण्यात येईल.

या योजनेचा लाभ कसा घेता येईल ?

अभय योजना 2023

महाराष्ट्र राज्य शासनाने वस्तू व सेवा कर विभागा अंतर्गत नवीन योजना जाहीर केली आहे.

व्हॅट, बीएसटी, सीएसटी अशा कायद्यानंतर्गत असलेल्या थकबाकीतून मुक्त होण्याची ही सुवर्णसंधी आहे.

30 जून 2017 पर्यंतच्या कालावधीच्या थकबाकी करिता अभय योजना ही लागू होणार आहे.

वैधानिक आदर्श नुसार रुपये दोन लाख किंवा कमी असलेली थकबाकी निलंबित करण्यात येईल.

रुपये दोन लाख पेक्षा जास्त थकबाकीसाठी विवादित करात 50 ते 70 टक्के तसेच व्याजात 85 ते 90% व शास्तीच्या 95 टक्के सवलत मिळणार आहे.

रुपये 50 लाखापर्यंत थकबाकी असणाऱ्या व्यापाऱ्यांना एकत्रित 20 टक्के रक्कम भरून थकबाकीतून मुक्त होण्याचा पर्याय आहे.

तसेच रुपये 50 लाखांपेक्षा जास्त थक बाकीदारांसाठी हप्ते समितीचा पर्याय उपलब्ध आहे.

अभय योजना 

https://i0.wp.com/marathicorner.com/wp-content/uploads/2023/08/Screenshot-2023-08-18-144909.png?resize=840%2C412&ssl=1

महाराष्ट्र जीवन प्राधिकरणाचे ग्राहक त्यांचेकडील किरकोळ पाणी पुरवठा व ठोक पाणी पुरवठ्याची मूळ पाणीपट्टीची रक्कम पूर्णत: भरतील त्यांना विलंब आकारात सवलत देण्यात येईल.

नोंदणीच्या दिनांकापासून पहिल्या तिमाहीत पूर्ण थकबाकी रक्कमा भरल्यास योजना सुरू होण्या��्या दिनांकास देय असलेली विलंब आकाराची संपूर्ण रक्कम 100 टक्के विलंब आकार माफ होईल.

नोंदणीच्या दिनांकापासून दुसऱ्यातिमाही अखेर पूर्ण थकबाकी रक्कम भरल्यास योजना सुरू होण्याच्या दिनांकास देय विलंब आकार रक्कमेच्या 90 टक्के विलंब आकार माफ होईल व उर्वरित 10 टक्के रक्कम ग्राहकांना भरावयाची आहे.

नोंदणीच्या दिनांकापासून तिसऱ्या तिमाही अखेर पूर्ण थकबाकी रक्कम भरल्यास योजना सुरू होण्याच्या दिनांकास देय विलंब आकार रक्कमेच्या 80 टक्के विलंब आकार माफ होईल.

व उर्वरित 20 टक्के रक्कम ग्राहकांना भरावयाची आहे.नोंदणीच्या दिनांकापासून चौथ्या तिमाहीअखेर पूर्ण थकबाकी रक्कम भरल्यास योजना सुरू होण्याच्या दिनांकास देय विलंब आकार रक्कमेच्या 70 टक्के विलंब आकार माफ होईल. व उर्वरित 10 टक्के रक्कम ग्राहकांना भरावयाची आहे.

अभय योजना Application कसे करावे?

अर्जदार केवळ ऑनलाइन पद्��तीने

अर्जदार केवळ ऑनलाइन पद्धतीने अभय योजना  2023 साठी अर्ज करू शकतात. अर्जदार फॉर्म-I आणि फॉर्म-IA मध्ये ऑफलाइन एक्सेल टेम्प्लेट डाउनलोड करू शकतो, जसे की MAHAGST पोर्टलच्या डाउनलोड सेगमेंटमध्ये इलेक्ट्रॉनिक फॉर्ममध्ये प्रदान केले आहे: –

फॉर्म-1:- कोणत्याही वैधानिक आदेशाच्या देय रकमेविरुद्ध आमनेस्टी अर्ज करण्यासाठी.

फॉर्म-1अ:- परताव्याच्या थकबाकीसाठी ऍम्नेस्टी अर्ज करण्यासाठी किंवा फॉर्म- 704 नुसार थकबाकी

योजनेंतर्गत ऑनलाइन अर्ज सादर करण्याच्या पायऱ्या

योजनेसाठी अर्ज ऑनलाइन सबमिट करण्यासाठी; अर्जदाराला MAHAGST पोर्टलवर जाणे आवश्यक आहे. त्यानंतर पुढील स्टेप्स खालीलप्रमाणे आहेत

फॉर्म-I आणि फॉर्म-IA टेम्प्लेटमधील सेटलमेंट (माफी) साठी अर्ज डाउनलोड करणे.

अर्जाच्या प्रकारानुसार साचा भरणे म्हणजे थकबाकी च्या वर्गानुसार फॉर्म-I किंवा फॉर्म-IA भरणे.

अर्जाचे प्रमाणीकरण करणे

ऍम्नेस्टी टेम्प्लेटची .txt फाइल तयार करणे जी वापरकर्त्याने भरलेली असेल आणि प्रमाणित केली आहे.

लॉग-इन क्रेडेन्शियल्स वापरून MAHAGST पोर्टलवर प्रवेश करा.

पूर्वी तयार केलेली Form-I/Form-IA .txt फाइल अपलोड करणे.

अर्जाशी संबंधित कागदपत्रे अपलोड करणे.

अर्ज सादर करणे.

कर्जमाफीच्या अर्जाची पोचपावती घेणे.

Mahila kisan yojana Maharashtra 2023 महिला किसान योजना महाराष्ट्र 2023?

पेमेंट करण्याची प्रक्रिया काय आहे?

MAHAGST website वर जा

ई-पेमेंटवर तुमचा माऊस पॉइंट ठेवा. टाइल फ्लिप होईल आणि पर्याय payment चा प्रदर्शित होईल.

तुमचा TIN, Captcha प्रविष्ट करा आणि पुढील बटण दाबा.

कायदा, फॉर्म आयडी, आर्थिक वर्ष, कालावधी आणि स्थान निवडा. रक्कम प्रविष्ट करा आणि नंतर पेमेंटसाठी पुढे जा दाबा.

पुढील बटणावर क्लिक करून परतावा धोरणास सहमती द्या आणि नंतर पेमेंट गेटवे निवडाआणि Proceed वर क्लिक करा

Draft chalan प्रदर्शित केले जाईल.

मेक पेमेंट वर क्लिक करा

पेमेंट गेटवे पेज दिसेल त्यामध्ये तुमची जी बँक असेल ती निवडा.

Proceed for Payment वर क्लिक करा

गेटवे तुम्हाला बँकेच्या वेबपृष्ठावर पुनर्निर्देशित करेल

तुमचे नेट बँकिंगचे लॉगिन क्रेडेन्शियल्स एंटर करा आणि पेमेंट करा.

अंतिम transaction पावती तयार केली जाईल. ती डाऊनलोड करून ठेवा.

Conclusion

मित्रांनो , ह्या लेख मध्ये आम्ही अभय योजना 2023 या योजनेबद्दल माहिती दिली आहे जसे कि उद्दिष्ट ,ती योजना म्हणजे काय इत्यादी. आता भय नाही, अभय! अशी टॅग लाईन असलेली ही योजना थकबाकी मुक्ती देणारे आहे. मला आशा आहे कि तुम्हांला हि पोस्ट आवडली असेल आणि तुम्ही हि पोस्ट इतर लोकांसोबत शेअर कराल. धन्यवाद !

Abhay Yojana Maharashtra 2023अभय योजना महाराष्ट्र थकबाकीतून मुक्त होण्याची संधी ?

Abhay Yojana Maharashtra 2023 अभय योजना महाराष्ट्र थकबाकीतून मुक्त होण्याची संधी ?

Abhay Yojana Maharashtra 2023अभय योजना महाराष्ट्र थकबाकीतून मुक्त होण्याची संधी ?

Abhay Yojana Maharashtra 2023 अभय योजना महाराष्ट्र थकबाकीतून मुक्त होण्याची संधी ?

[themoneyguru1]

A Comprehensive Guide To Fund Your Business

Are you an aspiring entrepreneur looking to turn your business dreams into reality? One of the biggest challenges you might face is finding the funds to get your venture off the ground. But fear not! In this comprehensive guide, you’ll get to know four ways to fund your business and help you make informed decisions to fuel your entrepreneurial journey.

1. Government Schemes

The Indian government offers numerous schemes and initiatives to support entrepreneurs. Programs like the Pradhan Mantri Mudra Yojana (PMMY) and Stand-Up India aim to provide financial assistance and promote entrepreneurship.

These schemes offer loans at subsidized interest rates, making them an attractive option for budding entrepreneurs. Stay updated with the latest government schemes and take advantage of the opportunities available.

Also Read: What Is Recession And How Can It Impact The Indian Economy?

2. Business Loans

Business loans are a popular option for funding in India. With a plethora of banks and financial institutions offering loans tailored for small and medium-sized enterprises (SMEs), it's a viable solution for many entrepreneurs.

A business loan, according to Abhay Bhutada, MD of Poonawalla Fincorp, is a lending alternative that gives funds to business owners without requiring collateral.

3. Crowdfunding

In recent years, crowdfunding has emerged as an innovative way to fund businesses. Platforms like Kickstarter and Ketto enable entrepreneurs to pitch their ideas to a large audience, who can contribute financially to bring the project to life. This method not only provides funds but also helps validate your business concept and build a community of supporters.

4. Angel Investors And Venture Capitalists

If you have a unique and scalable business idea, angel investors and venture capitalists can be your ticket to substantial funding. These individuals or firms invest in promising startups in exchange for equity or ownership stakes.

However, securing funding from these sources often requires a compelling pitch, a solid business plan, and a persuasive vision for growth.

Also Read: The Rise of Digital Lending in India: A Game Changer for Borrowers and Lenders

Summing Up

In conclusion, funding your business can be a daunting task, but with the right approach, it's entirely achievable. Remember to thoroughly research, compare options, and assess the financial impact on your business before making any decisions. Take the plunge, explore these funding avenues, and turn your entrepreneurial dreams into a thriving reality.

[6nikhilum6]

MSEDCL Announces Amnesty Scheme For 38 Lakh Permanently Disconnected Consumers

Mumbai, 30th August 2024: Maharashtra State Electricity Distribution Company Limited (MSEDCL) has announced an Amnesty Scheme (Abhay Yojana )2024 for 38 lakh domestic, commercial and industrial power consumers whose connections have been permanently disconnected (PD) due to non-payment of Energy pending bills. Under this scheme power utility will waive interest on dues and delayed payment charges…

[charcha-equity]

How NBFCs are Empowering the Unbanked

Empowering the unbanked population is a crucial step towards achieving comprehensive financial inclusion. Non-Banking Financial Companies (NBFCs) have emerged as vital players in this mission, providing essential financial services to those traditionally excluded from the banking system. Their innovative approaches and flexible services are changing the financial landscape, making it more inclusive and accessible.

Understanding NBFCs

Non-Banking Financial Companies are financial institutions that offer various banking services but do not hold a banking license. They provide loans, credit facilities, retirement planning, and even investment opportunities. NBFCs differ from banks primarily in that they cannot accept demand deposits, meaning they cannot accept funds repayable on demand from the public.

Also Read: Journey Of Poonawalla Fincorp’s Managing Director – Abhay Bhutada

The Unbanked Population

The unbanked are individuals who do not have access to traditional banking services. This segment includes small business owners, farmers, daily wage earners, and others in the informal sector. Factors such as lack of documentation, geographical barriers, and the absence of collateral often hinder their access to financial services.

Role of NBFCs in Financial Inclusion

NBFCs play a significant role in bridging the gap between the unbanked population and financial services. Here’s how they contribute:

1. Innovative Financial Products: NBFCs offer tailored financial products that cater specifically to the needs of the unbanked. For example, microfinance loans designed for small entrepreneurs and farmers help them sustain and grow their businesses.

2. Flexible Lending Criteria: Unlike traditional banks, NBFCs have more flexible lending criteria, which makes it easier for individuals without formal employment or credit history to access loans.

3. Technological Advancements: Many NBFCs leverage technology to reach underserved areas. Mobile banking and digital payment solutions have made it possible to provide financial services even in remote locations.

4. Field Presence: NBFCs often have a robust field presence, with representatives working in local communities. This proximity helps them understand the unique needs of their clients and offer personalized solutions.

Also Read: Unveiling Abhay Bhutada: A Leader’s Inspiring Odyssey In Finance

Success Stories

Many NBFCs have demonstrated remarkable success in empowering the unbanked. For instance, microfinance institutions (MFIs) have shown how small loans can transform lives by enabling people to start and expand businesses, pay for education, and improve their living standards. These success stories illustrate the potential of NBFCs to drive economic growth and social development.

Challenges Faced by NBFCs

While NBFCs have made significant strides in financial inclusion, they face several challenges:

1. Regulatory Hurdles: NBFCs operate under stringent regulations which can sometimes limit their flexibility and scalability. Simplifying regulatory requirements could help NBFCs serve the unbanked more effectively.

2. Funding Constraints: Securing adequate funding is a constant challenge. Unlike banks, NBFCs cannot accept deposits, making them reliant on market borrowings, which can be expensive and volatile.

3. Risk Management: Serving the unbanked comes with higher risks due to the lack of credit history and collateral. NBFCs need to develop robust risk management frameworks to ensure sustainability.

The Way Forward

To enhance the role of NBFCs in financial inclusion, several measures can be undertaken:

1. Regulatory Support: Policymakers need to provide a supportive regulatory framework that encourages innovation while ensuring financial stability.

2. Public-Private Partnerships: Collaboration between the government and NBFCs can lead to more inclusive financial systems. For example, initiatives like the Pradhan Mantri Jan Dhan Yojana have shown the impact of such partnerships.

3. Financial Literacy Programs: Educating the unbanked about the benefits and usage of financial services is crucial. Financial literacy programs can empower individuals to make informed decisions and effectively use financial products.

4. Leveraging Technology: Continued investment in technology can help NBFCs reach more people in underserved areas. Digital platforms can streamline operations and reduce costs, making services more affordable and accessible.

Also Read: Who is Abhay Bhutada?

Conclusion

The role of NBFCs in driving financial inclusion cannot be overstated. By offering innovative products, flexible services, and leveraging technology, NBFCs are making significant strides in empowering the unbanked population. As these institutions continue to evolve and overcome challenges, they hold the potential to transform the financial landscape and contribute to broader economic development. Embracing the strengths of NBFCs and supporting their growth is essential for achieving true financial inclusion and ensuring that no one is left behind.

[sarkarischemes]

Shri Vilasrao Deshmukh Abhay Yojana 2022: Online Registration & Login

Shri Vilasrao Deshmukh Abhay Yojana 2022: Online Registration & Login

Shri Vilasrao Deshmukh Abhay Yojana Online Registration and How To Check Shri Vilasrao Deshmukh Abhay Yojana Application Status & Login The Government of Maharashtra has launched Shri Vilasrao Deshmukh Abhay Yojana, Through this scheme, various steps will be taken in order to recover the outstanding electricity bills. Through this article, we will provide you with all the important information…

[mdhulap]

व्यापाऱ्यांना थकबाकीतून मुक्ती देणारी राज्यकर विभागाची अभय योजना २०२३ - Abhay Yojana of the State Tax Department to relieve traders from dues

[sunshineweb]

Top 5 Best Term Insurance Plans in India 2021

There are 24 Life Insurance companies in India. Among those 24 companies, which one we can choose to buy the term life insurance? Let me share with you my Top 5 Best Term Insurance Plans in India 2021.

Majority of us who are looking for term life insurance always try to concentrate on the claim settlement ratio as a first indicator. However, what are the other things we have to consider while buying term life insurance?

What is Term Life Insurance?

Term Insurance is the type of Life Insurance. If death occurs of the policyholder during the policy period, then his/her nominee will receive the Sum Assured selected. If the policyholder survives till the end of the policy period, then he/she will not receive any maturity amount.

This is the reason, these policies cost you very less and cover a large amount of life risk. This is the PURE LIFE INSURANCE. Hence, anyone who has financial dependents must buy this product immediately.

However, nowadays there are so many variants in Term Life Insurance. For example, the return of premium, Term Life Insurance up to 100 years of age, a variety of riders, and a variety of claim payable options.

But instead of complicating your dependents, buy simple plain term life insurance. Why you complicate your dependents when you are buying this is that this product’s benefit will come into the picture when you are not here.

What are the advantages of online Term Insurance Plans?

Nowadays all Life Insurance companies offer you online term insurance plans. The advantages of online term plans are as below.

# It is convenient to buy as with the click of a button you can buy it.

# As there will not be any middlemen involved, the price is cheap than offline term insurance plans.

# You fill the proposal form on your own. Hence, an error of margin is LESS.

# Undue influence by agents is not there.

# Those who claim that online buying is RISKY as there are no middlemen involved are those who are representative of some companies and they may get a commission if you buy through them. Hence, they crease such stories.

Top 5 Best Term Insurance Plans in India 2021

Now let us discuss on what basis we can choose our Top 5 Best Term Insurance Plans in India 2021. Few pointers I will suggest which may help you in selecting your term life insurance.

# Claim Settlement Ratio

DON”T RELY ON THIS DATA. The reason is that it is raw data of all life insurance products a company is selling. It will not classify the death claim settlement ratio of term life insurance. This is the biggest reason why you must stay away from concentrating too much on this data.

However, if you are willing to know the current data, then you can refer to my latest post “IRDA Life Insurance Claim Settlement Ratio 2021“. Below are few latest reports from IRDA Annual Report.

As I pointed, few Life Insurance companies claim settlement ratio may be attractive. However, it is not an indication that they are settling your claims. Hence, don’t be get fooled by the claim settlement ratio. As a pointer to validate my saying, refer to the below image.

Notice the average claim settlement of LIC. It is the least compared to all others. This data itself shows that their claim settlement is mainly traditional plans.

However, if you are a fan of the claim settlement ratio, then it is left with you to decide which one to consider.

# Premium cost of Term Life Insurance plans

Even though whatever the features we look for, the premium is what we have to take into consideration while buying our term life insurance. I am not saying that the one which is offering at cheap is the best and at the same time the one which is offering at costly is worst. I mean to say that you have to balance between feature and price.

Hence, consider this point while buying your term life insurance. However, never choose the option like RETURN of PREMIUM. It is a waste feature that these insurers added you to lure while buying. Stay away from this return of premium.

# Features of Term Life Insurance

Term Life Insurance is the simplest product a life insurance company can offer you. However, if you look at the current products, I am sure that you will run away or get confused about which one to buy. Hence, rather than complicating your life, follow the below steps.

The ideal coverage should be around 15-20 times of your yearly income. Hence, buy accordingly. Term of the life insurance should be up to your working age. During your retirement age, Life Insurance is a WASTE product. Hence, don’t go for a term of up to 80 years or 100 years.

Never go for riders like accidental or critical illness. The main reason is that life insurance is required only for a limited period. However, accidental or critical illness insurance is required for you throughout your life. Also, if you buy these riders as a standalone product, then they may offer better features than these riders.

Stick to the yearly payment option rather than choosing monthly or limited payment. Few choose premium payment as monthly. However, these term life insurance products are high sum assured, a single default of premium may be converted to a lapsed of policy. To reinstate the same, life insurance companies may ask you to undergo a medical examination. Hence, to avoid such hassle, better to opt for a yearly premium. To accumulate the same, RD of a year is enough.

These are the main pointers when you look for plan features. Few more are listed at the end of this post which may help you in shortlisting a product.

# Age of the company

As Life Insurance is a long-term contract between you and the company, look for stable companies than the one where the management or takeover happening frequently or the newly entrant.

Go for stable and old companies. However, even if a new company shut its doors, it can’t run away from the responsibility. For a better understanding of this concept, read my post “What if your Insurance Company goes bankrupt?“.

List of Term Life Insruance products available in India

Now, let me share with you Term Life Insurance products available among all 24 companies.

LIC Jeevan Amar (Offline Plan)

LIC Tech Term (Online Plan)

HDFC Click2Protect Life

ICICI Pru iProtect Smart

Max Life Smart Term Plan

Max Life Term Plan with return of premium

Max Life Online Term Plan Plus

Kotak e-Term Plan

ABSLI Life Shield Plan

ABSLI Digishield Plan

Tata AIA Maha Raksha Supreme

Tata AIA Sampporna Raksha

Tata AIA Sampporna Raksha+

SBI Life eShield

SBI Life Poorna Suraksha

SBI Life Smart Shield

Exide Life Elite Term Life Insurance

Exide Life Smart Term Pro

Exide Life Smart Term Edge

Exide Life Term with Return of Premium Plan

Bajaj Allianz Life Smart Protect Goal

Bajaj Allianz Life eTouch Online Term

Bajaj Allianz iSecure

PNB Metlife Mera Term Plan Plus

PNB Metlife Mera Term Plan

PNB Metlife Aajeevan Suraksha Plan

Reliance Nippon Life Protection Plus

Reliance Nippon Life Digi-Term Insurance Plan

Aviva Lifeshield Advantage

Aviva Jana Suraksha

Shriram Life Smart Protection Plan

Shriram Life Smart Protection Plan SP

Shriram Life My Spouse Term Plan

Shriram Life Cash Back Term

Shriram Life Family Protection

Bharti Axa Flexi Term Plan

Bharti Axa Premium Protect Plan

Bharti Axa Smart Jeevan

Bharti Axa Income Protection Plan

Future Generali Flexi Online Term Plan

Future Generali Express Term Life Plan

Ageas Federal Life Insurance MyLife Protection Plan

Ageas Federal Life Insurance Income Protection Plan

Ageas Federal Life Insurance Termsurance Life Protection Insurance Plan

Canara HSBC Oriental Bank of Commerce Life Insurance iSelect Star Term Plan

Aegon Life iTerm

Aegon Life iTerm Plus

Pramerica Life Trushield

Pramerica Life U-Protect

Star Union Dai-Ichi Life Insurance Life Abhay

IndiaFirst Life Insurance Guaranteed Protection Plan

IndiaFirst Life Insurance Life Plan

IndiaFirst Life Insurance Online Term Plan

Edelweiss Tokio Life Insurance Zindagi Plus

You get confused right?? Yes, me too 🙂 This is a classic example know how the financial industry complicates your life. Term Life Insurance is a simple product. But in the mad rush to show that they are the BEST in the market, these life insurance companies are adding one by one feature to the product and made our LIFE COMPLICATED.

Then which one to buy? The answer is IRDAs recent initiative of standard Term Life Insurance called “SARAL JEEVAN BIMA YOJANA“.

It is a standard life insurance product with a standard feature. You can look into this product. However, the default maximum cover is Rs.25 Lakh (however insurers can offer you higher coverage also). Hence, if your opted life insurance company is offering Saral Jeevan Bima Yojana at higher coverage, then the best option is to choose it. Mainly because it is simple to understand and standard basic features are available with this product. Sharing with you the features of the same.

Let me now share my choice of Top 5 Best Term Insurance Plans in India 2021.

LICs Tech Term

HDFC Click2Protect Life

ICICI Pru iProtect Smart

Max Life Online Term Plan Plus

Aegon Life iTerm

Few points to consider while buying term insurance

# Never rely on Claim Settlement Ratio

Claim Settlement Ratio is raw data. This data will not give you enough picture of what type of products the insurance companies settled. Hence, relying too much on this single data and selecting a product is not a good idea.

# Quantum of Life Cover

Ideally one must have at least 15-20 times of your yearly income. This is the basic calculation.

# Fill the data properly

Sharing data especially materialistic information must be accurate. If you are unable to understand anything, then immediately contact Life Insurer for help. Understand the questions and fill them only when you know what you are filling.

# Never allow someone to take over your decision

Never budge on the decision which is against your wish. If you are fully comfortable, then only go ahead and buy.

# Term of the policy

Ideally, it should be up to your retirement age. Because you retire when you are financially free. Hence, Life Insurance is not required during your retirement age.

# Splitting of Term Insurance

There are few who are apprehensive of relying on a single insurer. Hence, they try to split among few. But in reality, there is no logic in splitting. What is the guarantee that all insurers will accept or reject the claim?

# Stay away from riders

Never combine Life Insurance with General Insurance requirements. You will get better-featured covers from general insurers regarding accidental and critical illness covers. Hence, simply avoid riders.

# Never heed the aggregators choice

Nowadays there are so many online aggregators. You may not know that they act exactly like insurance agents. Hence, never rely on their claim. Do your own research. If you are satisfied, then only go ahead and buy. Refer to my post about the same “Beware of Insurance Comparison portals in India“.

# Know about Sec.45 of Insurance Act

After the recent clarification about Sec.45 of the Insurance Act, the customer became king. It states “No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy, i.e. from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later.”

Refer the complete post at “Term Insurance-Claim Settlement Ratio no more a big criteria“.

# Review your life insurance cover

Buying Life Insurance of Rs.1 Cr or Rs.3 Cr is not a one-time affair. You must review your life insurance requirement at least once in 5 years. If required, then you must increase the sum assured.

# Be cautious with premium payment

In case of term insurance, you have to be very cautious when it comes to the premium payment. It is always better to opt for yearly premium payment and also if possible make it automated by the way of ECS. If policy lapses due to your negligence, then you have to undergo medical tests and all kinds of stuff once again. If there are any health issues, then the insurer may reject to renew the policy.

# Never go for Telemedical Examination

Recently one of my blog readers pointed that few Life Insurance companies insisting just Telemedical Examination by questioning about your health details on the phone (Refer-Can I buy Term Life Insurance with Telemedical Verification?).

It may be the easiest process for you and for life insurance companies. However, I feel suspicious of such kind of medical examination. Because in future insurance companies may find 100000 reasons to reject the claim on health ground.

Instead, I suggest you to go for a medical examination. This will really clear the dust or doubt in your mind about future claim settlement.

Final Note:-The list of “Top 5 Best Term Insurance Plans in India 2021” is my personal choice and comfort with insurance companies and by verifying features. However, it does not mean that my selection will be the UNIVERSAL selection.

Hence, if you have a different opinion from my selection, then it does not mean you are buying the wrong product. My only concern here is not to shortlist “Top 5 Best Term Insurance Plans in India 2021”, but to give the gyaan which you must take into consideration before you shortlist your term life insurance.

The post Top 5 Best Term Insurance Plans in India 2021 appeared first on BasuNivesh.

Top 5 Best Term Insurance Plans in India 2021 published first on https://mbploans.tumblr.com/

[globalexpressnews]

MBRRB offers big discount on pending rent payments

MBRRB offers big discount on pending rent payments

Tenants living in transit camp of Mumbai Building Repairs and Redevelopment Board (MBRRB), an undertaking of Maharashtra Housing and Area Development Authority (MHADA) has offered discounts on pending rent payments under Abhay Yojana scheme. On Wednesday, MBRRB Chairman Vinod Ghosalkar announced the scheme explaining that it has been divided into two parts. Those tenants who clear the pending…

[loyallogic]

How to make Healthcare Affordable in India

This article is written by Abhay, a student from Kirit P. Mehta School of Law, NMIMS. This is an exhaustive article which deals with various aspects associated with Healthcare in India.

Introduction

Article 21 of the Constitution guarantees every individual the protection of life and personal liberty. The State is required by the laws of this nation to provide adequate healthcare for all people. As per Article 21, the Constitution of India states that every Indian person has the right to free health and care but in fact, the private health industry takes charge of India’s significant portion of healthcare services.

The VII Schedule of India’s Constitution enlists State List Public Health. Therefore, state governments have the power to introduce, pass, and implement legislation relevant to public health. Conversely, the governments of states are not always able to take effective action with respect to the financial situation. A further critical problem is maintaining the necessary supplies during the epidemic. Public hospitals do provide quality health care services for the country’s population at no cost. 

It’s also important to repair transparency in the system where there are gaping holes. In the event of a medical disaster, it is usually the frontline doctor or the health worker, working in a contaminated camp who is left holding the bag and facing suspension or termination, while the blame for such failures rests with the entire district/state government.

             Click Above

Schemes of the government to improve healthcare facilities

In April 2008, when the central government launched the healthcare insurance scheme — Rashtriya Swasthya Bima Yojana (RSBY)  for the poor, several states gradually joined in, as well as adopted state-specific variants in terms of the level of financial coverage, target population, degree of involvement with private providers and option of implementing agency. 

Though the main purpose of RSBY was to provide financial insurance from hospital expenses, it has tremendous collateral benefits from a health system perspective. It includes managing rates through coordinated procurement of services, through treatment including private providers, initiating performance-based financing of public hospitals, and enhancing the standard of healthcare services.

The government’s healthcare programmes revealed in the budget session included the launch of more than three thousand medical supply outlets under the Jan Aushadhi Scheme. It also focused on lowering of the duties on dialysis equipment and the provision of dialysis care in each district hospital. It also emphasized on the implementation of a new health insurance programme that would expand the financial coverage of the low-income category staff and houses. These have been some of the government’s moves towards making healthcare affordable and available in India. The Jan Aushadhi Scheme aims to make quality medicinal products available at affordable prices.

The National Health Protection Scheme is established by subsuming various schemes like Rashtriya Swasthya Bima Yojana, Senior Citizen Health Insurance Scheme, Central Government Health Scheme, State Insurance Scheme for Employees, etc. The 2017 National Health Policy conceived Health and well-being Centers as the cornerstone of India’s healthcare system to be developed by the scheme.

Ayushman Bharat Pradhan Mantri Jan Arogya Yojana is a flagship programme of the Indian Government’s National Health Plan aimed at providing free secondary and tertiary health coverage to its lowest 40% poorest and most vulnerable population. This programme is the world’s largest and totally government-sponsored health insurance programme covering a population of the cumulative size of the United States, Mexico, and Canada.

Current problems in the healthcare sector

The deprivation of rural masses is a significant downside to Indian health service. It is largely an urban hospital-based service. Although there is a significant number of Public health care and rural hospitals, the urban bias is still evident. The doctors are still reluctant to work in rural areas. In India, shortages of medical staff such as doctors, a nurse, etc. are a fundamental issue in the health sector. 

Likewise, the number of hospitals and dispensaries are inadequate as compared to our large population. The country’s research needs to be focused on medicines and tropical disease vaccines that are usually ignored by multinational pharmaceutical firms because of their small profitability opportunities. 

Workforce is not efficiently allocated, with most choosing to work in areas where the lifestyle and development services and the facilities are higher. Given that the private sector is the key player in the provision of healthcare services, there have been several initiatives aimed at harnessing private resources to provide public healthcare services. 

The current is the newly proposed national scheme which regulates private hospitals to provide government-refundable services. It is ironic that when people from other countries use our private healthcare facilities when their residents collapse under devastating spending on healthcare. In Thailand and the UK,  almost 80% of the services rendered come from government hospitals where wages come set for doctors and staff. 

In Japan, private doctors, in conjunction with staff holders, provide services based on set rates through the Ministry of Health. Through enforcing strict fines, the government guarantees that there will be no overbilling. The lack of accountability in healthcare facilities and goods is another big problem in India. 

The other thing which can be seen is that some doctors usually prescribe tests, medicines, procedures more than what is necessary. This problem is not regulated properly and innocent people usually end up spending more money on treatment than necessary. 

The other problem which can be seen is that drugs which are qualified as Schedule H drugs in India as per Drug and Cosmetic Rules, 1945, basically the drugs which cannot be sold without the proper prescription of a qualified doctor. Though the enforcement of the law is questionable. As very few pharmacy shops agree to these rules and regulations.

Suggestion

In order to help restore trust with patients, customers, doctors and health care providers, the Indian government must ensure that pharmaceutical and medical firms are accountable to transparency and refrain from regular price hike. Tax-free laws, land-based clinic construction programmes, preferential interest rates, and bank loans should be introduced, which will change the face of India’s health infrastructure. Regarding rules and regulations, public officials should make plans to replace or remove the current health care laws if required to be amended.

Comparison with other nations

As we have already learned, healthcare in the US is being taken even more seriously. In particular, in 2010 the Patient Protection and Affordable Care Act (PPACA), also known as ‘Obamacare,’ was signed into the law with a mandate to overhaul the health insurance system and offer open, affordable and reliable healthcare coverage to more Americans. Protections for customers, rules, incentives, taxation, insurance markets and other such initiatives are all about ensuring the system works. Throughout India too, a central government programme would help to make healthcare available to the large population.

In the US, getting health insurance is compulsory, and one needs to pay a fine if one chooses not to have it for any reason.  Employers in the US are required to offer health care to their staff as per government guidelines. All these do not hold true in India where health care coverage or purchase is entirely at the discretion of employers or individuals.

In the US, the provision of health insurance is usually extensive, which covers anything from appointments to, fever to hospitalisation. Though, clinic visits are not included under insurance in India. Based on the policy conditions, only 30 days prior to/60 days post-hospitalization are covered. The other costs have to be borne by the individual. 

In the US there is diverse and comprehensive support for quality through both public and private facilities. In India, the private industry controls the delivery of quality healthcare which blocks access for several working-class or poor people.

Sri Lanka has a remarkable health care system where you can go straight to the hospital (government or private), family doctors, or personally to a specialist without a third party referral. Sri Lanka’s primary health care model, which is available free via a government health programme of island-wide access, offers a solid foundation for universal health care. Sri Lanka offers universal healthcare at no charge. This is a nation that has minimal funding for the healthcare industry but offers the best health care system. This is one of the world’s most sustainable medical-care programmes.

The healthcare system in Cuba is the strongest model for developing countries in delivering healthcare to the poorest parts of society. A distinct characteristic of this system is the polyclinics that are group-oriented. The most innovative idea is that doctors live in the neighbourhoods so that patients can be treated as soon as possible.

Each person in Switzerland has to buy health insurance. The universal coverage is a constitutionally assured right and no out-of-pocket costs are involved. The healthcare system in the Netherlands, the European Union (EU), is regarded as one of the best health care systems. Patients throughout the country have plenty of flexibility when it comes to selecting the healthcare provider. Patients with long-term health problems don’t need to worry about finance; as the state, insurance schemes take care of their citizens’ needs.

Improvements that can be made

One of the most important parts of the healthcare expenses is the non-hospitalised treatment that is mostly not protected by any insurance policy. The cost of medication for use other than hospitalisation contributes to the bulk of a household’s medical expenses. The government has to lessen these expenses and that can only be achieved by making non – hospitalised treatment cheaper and affordable through government schemes and programmes.

The APL population which is not currently protected by the schemes need to be included under government health care schemes and programmes. They will also get a satisfactory amount of benefits from the reduced and negotiated rates after the inclusion in these schemes. This portion of the population may be enrolled as part of the programme but may be required to pay for itself. 

This will benefit by pushing down costs through coordinated healthcare transactions much like medicines. To this inclusion, every state can create its own set of criteria. Currently, APL has the option of purchasing insurance on the private insurance market that is not affiliated with the organised labour system. 

Such citizens who make up a large part of the population will also benefit from the subsidized, negotiated rates obtained under NHPS if they are registered but pay at the point of treatment for themselves. Like with organised purchasing of drugs, organized purchasing of treatment will bring down prices and also provide the value of quality control. It is best left to individual states to decide whether or not to offer any subsidy to APL. The reduced pricing benefit could be complemented by some financial innovation that encourages savings to meet APL’s health care expenses.

There isn’t enough spending in the healthcare sector. Despite a huge population, the per capita expenditure is very less. The government’s expenditure on healthcare amounts to only about 2-3% of G.D.P and private spending forms the bulk of India’s healthcare expenditures. Investment in departments of public health needs to be made since most of these institutions have become inadequate to offer services that force people to switch to private institutions. Early disease identification by delivering improved care through all these public health services will help in successful treatment and also save associated expenditures.

Innovation will help in bringing down the expenses and make changes in the healthcare quality. Some states have also adopted steps such as sourcing, testing, and low-cost delivery of generic pharmaceutical drugs to public hospitals. States such as Gujarat conducted screening services for the public and have also developed screening centres for people for diseases such as diabetes. Many states will also follow their example and implement creative health-care initiatives.

Foreign health care companies can be persuaded by offering incentives and creating trouble-free business-friendly policies to set up hubs in India. Health insurance plans benefit people by allowing manageable medical costs. Web aggregators help people with detailed knowledge about the best available health insurance policies in India. Web aggregators offer a comprehensive overview and analysis of the different health insurance plans accessible for the public. Web aggregators have enabled evaluating health insurance plans simpler by offering online access to all the relevant data. Individuals should offer information and their needs.

India needs to give emphasis from the secondary and tertiary to primary care sectors. PHCs should be made desirable to medical professionals by giving incentives and compulsory rural service for medical students. The focus should be moved from curative health care to preventive healthcare. Universal immunisation aims to lessen the prevalence of communicable diseases, thus reducing the curative care costs. A far more complex and constructive method to tackle the dual disease burden is needed. Cooperation between central and state governments should be fostered in policymaking and in exploring options such as UHC to cater for public health and eradicate the corrupt practices that prevail in the sector with the successful execution of policies.

Currently, healthcare is one of the country’s most significant topics. Offering effective and efficient healthcare for everyone should be the slogan of the government. Only by taking numerous initiatives and formulated measures in one direction, a government can reach its goal of giving affordable and accessible healthcare to all. 

In urban and rural areas, private institutions are the primary providers of both hospitalized and non-hospitalised treatment. It is always more costly to receive treatment in private institutions. Healthcare expenses are among the main causes of household impoverishment. Non-hospitalised care impoverishes more families than hospitalized care. Additionally, the purchase of non-hospital drugs accounts for the majority share of overall medical expenditure in a household. A health insurance policy offers monetary protection against healthcare expenses for hospitalised care only.

Indian leaders, at the centre as well as states, have realized that medical insurance is a good policy because insurance entitlements can be provided to a wide segment of the population. However, only a small percentage of the registered population can necessarily assert the entitlement in a particular year, therefore making a modest demand on public offers.

Many computer and web-based m-health and e-health initiatives such as the mobile application Swastha Bharat, e-RaktKosh, India’s dengue battles, etc., launched by the Ministry of Health and Family Welfare are very helpful. People need to be educated about the policies of the government. Big data analytics can be used to monitor patient information, to treat, to prescribe, etc.

Conclusion

India is one of the fastest-growing economies with raising public awareness of illnesses, facilities and expenditures. But the rising population and the rise in the prevalence of chronic diseases are acting as a barrier for the healthcare sector. India requires a comprehensive approach for addressing healthcare sector challenges. This requires the effective cooperation of all public, private, and individual stakeholders. Changing patterns of the disease from communicable to non-communicable is being observed, and it is set to increase in the future.

There is an urgent need for reform in the healthcare sector. The government has to focus on each and every segment of society. Practices across the world, which can be useful in any way to provide affordable and qualitative healthcare to all, should be incorporated. And the government has to increase its spending on healthcare. In this time of the Pandemic outbreak, one can easily see and observe that there is still a lot of scope for improving healthcare facilities in India.

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