Prime Minister Approves Major Schemes for Women, Youth and Vulnerable Citizens | Current Affairs | Vision IAS

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In Summary

  • PM RAHAT Scheme launched for cashless treatment up to ₹1.5 lakh for accident victims.
  • Lakhpati Didi Initiative target doubled to 6 crore by March 2029, supporting rural SHG women.
  • Startup India Fund of Funds 2.0 approved with ₹10,000 crore corpus for manufacturing and high-tech startups.

In Summary

Key Decisions Taken

PM RAHAT (Road Accident Holistic Action for Treatment) Scheme launched

  • Purpose: To prevent deaths due to lack of immediate medical help by covering expenses for accident victims.
  • Coverage: Cashless treatment of up to ₹1.5 lakh.

Lakhpati Didi Initiative: Target revised 

  • Target doubled to support 6 crore Lakhpati Didis by March 2029. 
  • The earlier target of 3 crore Lakhpati Didis achieved ahead of the original March 2027 timeline.
  • About Lakhpati Didi Initiative (2023)
    • Objective: To enable rural SHG women to move out of poverty by diversifying livelihoods through skilling, financial inclusion, market access etc. 
      • E.g. running small enterprises or livestock management
    • Definition: A Lakhpati Didi is an SHG member with a sustainable annual household income of ₹1,00,000 or more.
    • Ministry: Ministry of Rural Development (under Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM))

Startup India Fund of Funds 2.0 (FFS 2.0) approved with a corpus of ₹10,000 crore

  • FFS 2.0 for startups, unveiled in the Budget 2025-26, focuses on the manufacturing and high-technology sectors, requiring longer-term funding.
  • About Fund of Funds for Startups (FFS)
    • Flagship initiative of the Department for Promotion of Industry and Internal Trade (DPIIT) under the Startup India Action Plan.
    • Managed by: Small Industries Development Bank of India (SIDBI)
    • It supports SEBI-registered Alternative Investment Funds (AIFs), which in turn invest in startups, expanding access to domestic risk capital and strengthening entrepreneurship.
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SEBI-registered

Indicates that an entity, such as an Alternative Investment Fund, is registered with the Securities and Exchange Board of India (SEBI). This registration ensures adherence to regulatory norms and investor protection standards.

Alternative Investment Funds (AIFs)

Investment funds that pool capital from sophisticated investors to invest in a variety of assets, including startups, private equity, venture capital, and hedge funds. In the FFS structure, AIFs are the conduits through which funds reach startups.

Small Industries Development Bank of India (SIDBI)

A principal financial institution engaged in the promotion, financing, and development of micro, small, and medium enterprises (MSMEs) in India. SIDBI manages the Fund of Funds for Startups.

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