Pradhan Mantri Awas Yojana (Urban)

The government has come out with guidelines on interest rate subsidy scheme under Pradhan Mantri Awas Yojana (Urban) for middle-income groups. The scheme was earlier announced by Prime Minister Narendra Modi in his New Year’s Eve address to the nation. Middle income groups (MIG) with annual incomes of above Rs. 6 lakh and up to Rs. 18 lakh per year are eligible for interest subsidy on buying their first home under Pradhan Mantri Awas Yojana (Urban). The scheme has been named as Credit Linked Subsidy Scheme for Middle Income Groups – CLSS (MIG). Prime Minister Narendra Modi had announced interest subsidy of 4 per cent on housing loans of up to Rs.9 lakh for those with an income of Rs12 lakh per year and of 3 per cent subsidy on housing loans of up to Rs.12 lakh for those earning Rs. 18 lakh per year. This home loan interest subsidy scheme is part of the government’s ‘Housing for All’ initiative. The scheme will be implemented initially for a period of one year.

Here are 10 highlights of the interest rate subsidy scheme under Pradhan Mantri Awas Yojana (Urban):

1) Home loans sanctioned or applications are under consideration since January 1, 2017, are eligible for interest subsidy under the Credit Linked Subsidy Scheme for Middle Income Groups. The beneficiary earlier should not have own a house in his/her name.
2) Interest subsidy will be provided on loans for construction/acquisition of house with carpet area of up to 90 sq metres for those with income of up to Rs. 12 lakh per year and of up to 110 square metres for those earning between Rs. 12 lakh and Rs. 18.00 lakh per year.

3) Under the scheme, the tenure of loan has been stipulated to be 20 years or that preferred by the beneficiary, whichever is lower.

4) Sriram Kalyanaraman, MD and CEO of National Housing Bank, said that interest subsidy of 4 per cent will bring down EMIs of beneficiaries by Rs. 2,062 per month on a housing loan of Rs. 9 lakh and interest subsidy of 3 per cent will bring down EMIs by Rs.2,019 on a loan of Rs.12 lakh, taking normal housing loan interest rate as 8.65 per cent.

5) The total interest subsidy accruing on these loan amounts will be paid to the beneficiaries up front in one go, thus reducing the burden of Equated Monthly Instalment (EMI).

6) The total interest subsidy for middle-income people over 20 years on Rs. 9 lakh loan and Rs. 12 lakh loan comes to around Rs. 2.30 lakh per beneficiary (the present value of interest subsidy provided to beneficiaries over the tenure of 20 year loan at a discounting rate of 9 per cent.)

7) Beneficiaries eligible for interest subsidy under the CLSS scheme have to apply to their lenders for availing the subsidy benefit.

8) National Housing Bank (NHB) and Housing and Urban Development Corporation (HUDCO) will reimburse interest subsidy to the lenders. No extra processing fee will be charged by the lenders from borrowers.

9) Besides commercial banks, housing finance companies, regional rural banks, state and urban cooperative banks, other financial institutions like small finance banks and non-banking finance company-micro finance institutions can also lend under this scheme.

10) 70 lending institutions including 45 housing finance companies, 15 scheduled banks, 2 regional rural banks, 1 cooperative bank, 4 small finance banks and 3 non-banking finance companies-micro finance institutions on Wednesday signed an agreement with National Housing Bank (NHB) for implementation of the scheme.

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Names of Reports published by Organisations

Sl.No Report title Organisation
1. Asian Development Outlook ADB (Asian Development bank)
2. Global Financial System Report BIS (Bank for International Settlements)
3. Global Money Laundering Report FATF (Financial Action Task Force)
4. India State of Forest Report Forest Survey of India
5. Change the World List Data Fortune
6. Technical Cooperation Report IAEA (International Atomic Energy Agency)
7. Nuclear Technology Review IAEA (International Atomic Energy Agency)
8. Ease of Doing Business IBRD (World Bank)
9. World Development Report IBRD (World Bank)
10. Safety Reports ICAO (International Civil Aviation Organization)
11. Global Hunger Index report IFPRI (International Food Policy Research Institute)
12. World Social Protection Report ILO (International Labour Organization)
13. World Employment and Social Outlook ILO (International Labour Organization)
14. World of Work Report ILO (International Labour Organization)
15. Global Wage Report ILO (International Labour Organization)
16. Global Financial Stability Report  IMF (International Monetary Fund)
17. World Economic Outlook IMF (International Monetary Fund)
18. Global Innovation Index Cornell University INSEAD and the World Intellectual Property Organization (WIPO)
19. World Energy Outlook (WEO)  International Energy Agency
20. Southeast Asia Energy Outlook International Energy Agency
21. OPEC Monthly Oil Market Report OPEC (Organization of the Petroleum Exporting Countries )
22. World Oil Outlook OPEC (Organization of the Petroleum Exporting Countries )
23. World Happiness Report Sustainable Development Solutions Network (SDSN)
24. Global Corruption Report (GCR) Transparency International
25. Levels and Trends in Child Mortality Report UN Inter-agency Group
26. World Investment Report UNCTAD (United Nations Conference on Trade and Development)
27. Actions on Air Quality UNEP (United Nations Environment Programme )
28. Global Environment Outlook UNEP (United Nations Environment Programme )
29. The Rise of Environmental Crime UNEP & INTERPOL
30. Global education monitoring Report UNESCO (United Nations Educational, Scientific and Cultural Organization)
31. State of world population UNFPA (United Nations Population Fund)
32.  World Cities Report UN-Habitat
33. The Global Report UNHCR (United Nations High Commissioner for Refugees )
34. Report on Regular Resources UNICEF (United Nations Children’s Emergency Fund )
35. The State of the World’s Children reports UNICEF (United Nations Children’s Emergency Fund )
36. Reports on Counterfeiting and Organized Crime UNICRI (United Nations Interregional Crime and Justice Research Institute)
37. Industrial Development Report UNIDO(United Nations Industrial Development Organization)
38. Global Assessment Report UNISDR (United Nations Office for Disaster Risk Reduction)
39. Global Report on Trafficking in Persons UNODC (United Nations Office on Drugs and Crime)
40. World Drug Report UNODC (United Nations Office on Drugs and Crime)
41. World Wildlife Crime Report UNODC (United Nations Office on Drugs and Crime)
42. Global Information Technology Report WEF (World Economic Forum)
43. Travel and Tourism Competitiveness Report WEF (World Economic Forum)
44. Global Competitiveness Report (GCR)  WEF (World Economic Forum)
45. World Intellectual Property Report (WIPR) WIPO (World Intellectual Property Organization)
46. The Energy Report & Living Planet Report WWF (World Wildlife Fund)
r. Name of Report Organization
1. World Investment Report UNCTAD (United Nations Conference on Trade and Development)
2. Human Development Index UNDP (United Nations Development Programme)
3. Gender Inequality Index UNDP (United Nations Development Programme)
4. Millennium Development Goals UNO (United Nations Organization)
5. Global Financial System Report BIS (Bureau of Indian Standards)
6. Global Innovation Index Published INSEAD
7. World Development Report IBRD (World Bank)
8. Ease of Doing Business IBRD (World Bank)
9. Global Talent Competitiveness Index INSEAD
10. Intellectual Property Rights WTO (World Trade Organization)
11. The Energy Report & Living Planet Report by WWF (World Wildlife Fund)
12. Carbon Emission Index was Published by UNFCCC (United Nations Framework Convention on Climate Change)
13. Global Terrorism Index IEP (Individualized Education Programme)
14. Global Peace Index IEP (Individualized Education Programme)
15. Global Money Laundering Report FATF (Financial Action Task Force)
16. World Economic Outlook IMF (International Monetary Fund)
17. Global Competitive Index WEF (World Economic Forum)
18. Travel & Tourism Index WEF (World Economic Forum)
19. Environmental Performance Index WEF (World Economic Forum)
20. Global Information Index WEF (World Economic Forum)
21. Levels and Trends in Child Mortality Report UN Inter-agency Group
22. India State of Forest Report Forest Survey of India
23. Interest Subvention Report 2015-16 Reserve Bank of India
24. Change the World List Data Fortune
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Does Trump know what he is doing?

What trump has done since he became The President of USA?

Since the swearing in as the 45th president of USA on Jan 20th of 2017, Mr Trump has unleashed a series of decisions on immigration and refugee programs of United states.Every one is crying foul on his decisions not only in other countries but even in the USA saying that the decision to put a hold on refugee program and banning the 7 nationals entering into the USA as unconstitutional and unethical.

The democrats and even some republicans and others are attacking Trump that these are not American values that they have been proud of. These are against the foundation principles of America and almost everyone in America who are claiming as true Americans(Except Native Americans) is a migrant at some or other point in time.. is what some people argue. His executive order to tweak the rules pertaining to minimum wage to be given to H1B visa holder is shaking the Indian students and IT employees here and in USA and there is no doubt that Trump has become a single most villain in their life who aspired to travel to USA for the reasons well know to all. There are uncertainties to where the refugees should be sent which the previous administration is agreed to accept.

But the question is can he do it like that?

Yes , absolutely. According to the American constitution President has the power to decide who comes in goes out of the country. So constitutionally he is entitled to do so. The courts may overturn his order and that is the matter to be discussed at other time.

A key part of immigration law does give the president broad power. It says, “Whenever the president finds that the entry of any aliens or of any class of aliens into the United States would be detrimental to the interests of the United States, he may by proclamation, and for such period as he shall deem necessary, suspend the entry of all aliens or any class of aliens as immigrants or non immigrants, or impose on the entry of aliens any restrictions he may deem to be appropriate.”

But at the same time the law also prohibits the “discrimination based on the sex,race,religion,nationality ,place of birth or place residence” but only in “Issuance of visas” in which case the powers of president to control the immigration are broader than curbing him to do so.

When it comes to morality of  his decision,  banning some one from coming to country especially refugees is morally unjustified and clearly unethical . But when you think from the American’s perspective , the kind of immigrants they have been seeing without any benefits to them(forget about the economic effects that make rich people richer) , the kind of people coming from different parts of the world that they don’t know anything about, it seems trump is sort of correct. Still the question of why only these 7 countries remains in everyone’s mind and Trump should provide any evidence that relates these countries to terrorist activities in the USA, at least for the sake its citizens.

Considering the horrendous situation of refugees ,suspending the  the refugees entry program is grossly mistimed and will leave many innocents in the peril in the name of stopping the culprits from entering.  But with the absence any effective vetting mechanism and the kind of terrorists attacks seen which happened to be done by migrants/refugees , Trump has left with no option except to suspend the refugee program.

Through out his presidential campaign , he promised Americans that he will bring back the jobs to them. To fulfill his poll promise, instead of reducing the number of H1B visas, he doubled the minimum wage to be required to issue the H1B visa there by effectively forcing the companies to hire the local employees. It is obvious that every country has the right to change its rules on how to give Visas and no one can question its validity.

What is out there more?

Rise of Trump as a President is unprecedented in American history as he became president without any political office held before. It is the unique feature he has and a unique feature that can be seen in democracy only. His election shows the changing American attitude against the globalization that can be resembled with the Brexit. In his inaugural speech he clearly mentioned ” Buy American and Hire American” , “America First” , which are going to do good than bad for Americans(especially working class) and hopefully). After all any country’s president/head must work for the interests of the people of his country which Trump is doing exactly at this point in time. There is no doubt that there will be change in the way other countries see the role of America under Trump,as  very different from the past. There is much time for Trump to fulfill his promises and let the time decide whether the people of USA who choose him are  right or wrong.

This is just for you who haven’t seen the mindset of Trump as a president.

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Critically analyse the nature of India’s engagement with the Middle East

Middle east has been the most important region outside the subcontinent for India’s security and prosperity. But still this region did not receive much attention it deserved from India. India’s engagement with Middle east cab be broadly divided into 3 stages.

Stage 1:(Independence 1947  to Economic reforms 1990)

  • India’s emphasis was on anti-west and anti-Israel solidarity with the middle east
  • This was mainly driven by the presumed need to prevent the Pakistan from scoring a march over India by its religious affinity
  • Despite expansive goodwill towards India in this region , India has little to offer beyond its rhetoric support
  • With increased emphasis on self reliance,India dismantled its strong economic links with middle east
  • The oil boom in the gulf saw increased interdependence on this region through labor exports and energy imports

Stage 2: (1990-2014)

  • This stage saw India’s more pragmatic approach towards the region
  • Scale of India’s economic interdependence increased rapidly and the nature has changed from mercantilism to trade and investment links with the region
  • Renewal of military exchanges and security cooperation have taken place but this did not converted into a bolder Indian military partnerships in the region

Stage 3:(2014 – present)

  • There is solid corrective in the last two years
  • Even India brought Israel partnership into open, It has devoted much energy in engaging gulf countries

Middle east is eager to see India to return to its traditional role of security and economic partner. India is also keen to improve its relation with the region.


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What implications would Brexit have on both Britain and EU? Also discuss major challenges Britain is facing in its bid to execute Brexit.

Brexit can be considered as the one of the biggest event happened in the international affairs which leaves its effect on several countries mostly Britain and European union.

Effects on Britain:

  1. Britains trade will take a hit sinces its 50% trade is with the EU countries
  2. Reduced investments in the short term and in long term if needed steps are not taken
  3. Currency volatility of sterling pound
  4. Migration can be regulated by Britain itself
  5. Scotland may bid for independence since it has voted to remain in EU
  6. Britain has to make trade deals with EU and other countries separately
  7. Britain is not required to follow the commonly EU rules on

Effects on EU:

  1. Brexit has the potential to influence other EU members to leave the union and it can be the trigger for the EU’s disintegration
  2. Currency volatility can be observed in EU currency euro

Major challenges faced by Britain before exit of EU:

  1. Britain should make trade agreements with individual countries and make it more attractive than EU
  2. Own opposition from the ruling party against brexit
  3. Britain is represented by EU in several international forums . Now it has to represent itself.

Brexit has more impact on Britain than the EU and Britain should take appropriate steps to handle the negative effects of Brexit.

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Discuss the reforms and their significance brought in the rules governing grant of passports in India.

The change in rules in granting passport is long overdue. These changes have made to remove age old rules which obstruct or delay the process of getting passport.

Than changes are:

  1. The application form requires only names of one parent not both.
  2. The stipulation that marriage certificate or divorce decree should provide is removed
  3. Getting documents attested by notaries and magistrates is removed
  4. Self declaration on plain paper would now be accepted
  5. Date of birth certificate is no more be the main proof of date of birth. Any other certificate i.e. PAN,Aadhar where DOB is printed can be taken
  6. In case of orphans , actual proof of date of birth is dispensed and declaration from the head of orphanage confirming the date is enough
  7. Adopted and surrogates are provided passport even in the absence of relevant documents and declaration on the plain paper is enough
  8. Sadhus and Sanyasins are allowed give their guru’s names in lieu of parents


  1. Single parents can apply passport for their children
  2. The time and cost in getting attestation of the documents will be saved
  3. Passport can be applied with any relevant proof of DOB
  4. Easy for orphans,adopted and surrogate persons to get passport
  5. Sadhus and sanyasins will be able to give their spiritual leader as their parent

These changes address many irritants in getting the passport.Getting passport is every citizens right and simplifying the procedure should be a continuous process.

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Can recent demonetization be considered as ‘cultural revolution’? Critically comment.

Demonetization has been in everyday news and touched each one across the country . It has a huge impact on the lives of people in one or the other way that their daily life has disturbed a little in  both positive and negative way. But can demonetization be called as cultural revolution needs some analysis.

Why it is cultural revolution:

  1. One of the objective of the demonetization is to force the people to go cashless and it achieved some success.
  2. It changed how the daily financial  transactions are done for e.g. many small business adopted digital payment methods
  3. In a big way it made everyone to adopt the banking system to their daily financial  needs

Why it can’t be cultural revolution:

  1. This step is aimed against the black money , corruption and terror funding . But it achieved very little success in this objects to be called as a revolution
  2. Though it has been expected to have hardships it caused a significant difficulties for the common man but with not delivering on its promises

There have been many opinions on whether the move is good or bad for the economy and people. But to become a cultural revolution it needs produce the steep changes in our daily lives. Couples with other steps like prohibition of benami transaction,recovery and preventing  black money in non-cash forms etc, demonetization has potential to become a cultural revolution.

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