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15 Indian Economy — Common Notes 🕒 Updated 2026-10-17 ✅ Facts verified till 2026-10-17
Common Notes SSC CGL · CHSL · Police · Bank · Railway · State PSC Chapter 15

🤝 Financial Inclusion & Key Economic Schemes

Jan Dhan, JAM, DBT, insurance and pension schemes, MUDRA and Stand-Up India, Startup and Digital India, Ayushman Bharat, housing, Ujjwala and other key schemes.

📌 1. Financial Inclusion

Financial inclusion = delivering affordable banking, credit, insurance and pension services to weaker and low-income groups.

SchemeLaunchedKey points
PM Jan Dhan Yojana (PMJDY)28 August 2014Zero-balance account, RuPay debit card, ₹2 lakh accident cover (accounts opened after 28.8.2018), overdraft up to ₹10,000
PM Jeevan Jyoti Bima Yojana (PMJJBY)2015Life cover ₹2 lakh; ₹436 yearly premium; age 18-50
PM Suraksha Bima Yojana (PMSBY)2015Accident cover ₹2 lakh; ₹20 yearly premium; age 18-70
Atal Pension Yojana2015Unorganised sector; ₹1,000-5,000 monthly pension after 60; join at 18-40
  • JAM trinity = Jan Dhan + Aadhaar + Mobile — subsidies reach beneficiaries directly.
  • Direct Benefit Transfer (DBT): since 1 January 2013; stops leakages.

📌 2. Entrepreneurship & Credit Schemes

SchemeLaunchedKey points
PM MUDRA Yojana (PMMY)8 April 2015Collateral-free loans to non-farm micro units: Shishu up to ₹50,000, Kishore up to ₹5 lakh, Tarun up to ₹10 lakh, Tarun Plus up to ₹20 lakh (since 2024)
Stand-Up India5 April 2016Loans of ₹10 lakh to ₹1 crore to SC/ST and women entrepreneurs (greenfield units)
Startup India16 January 2016Tax benefits, easier rules, Fund of Funds (SIDBI) for startups
PM SVANidhi2020Working capital loans to street vendors
PM Vishwakarma17 September 2023Skills, toolkits and cheap credit for traditional artisans (18 trades)

📌 3. Welfare & Infrastructure Schemes

SchemeLaunchedKey point
Ayushman Bharat – PM Jan Arogya Yojana23 September 2018Health cover up to ₹5 lakh per family per year; all citizens aged 70+ included since 2024
PM Awas Yojana2015Housing for all (rural and urban); PMAY-Urban 2.0 (2024)
PM Ujjwala Yojana1 May 2016 (Ballia, UP)Free LPG connections to women of poor households
Swachh Bharat Mission2 October 2014Open-defecation-free India, sanitation
Digital India1 July 2015Digital infrastructure, e-governance, digital literacy
Jal Jeevan Mission2019Tap water to every rural home ("Har Ghar Jal")
Sukanya Samriddhi Yojana22 January 2015Savings account for girl children (with Beti Bachao Beti Padhao)
PM Gati Shakti13 October 2021National master plan for multimodal infrastructure
⚠️ Exam Traps:
  • PMJJBY = life cover (₹436); PMSBY = accident cover (₹20) — do not swap.
  • MUDRA loans are for non-farm micro units; the Shishu category goes up to ₹50,000.
  • Ayushman Bharat gives ₹5 lakh per family, not per person.
  • The Ujjwala scheme was launched at Ballia (UP).
💡 Memory Tip: MUDRA: Shishu → Kishore → Tarun → Tarun Plus (50 thousand → 5 lakh → 10 lakh → 20 lakh).

📌 4. Practice MCQs

📝 Practice MCQs (prepared by SF Prep — not PYQs)
Q1. When was PM Jan Dhan Yojana launched? Practice
(A) 15 August 2014
(B) 28 August 2014
(C) 2 October 2014
(D) 1 July 2015
Correct answer: (B)
It was announced on 15 August 2014 and launched on 28 August 2014.
Q2. In the JAM trinity, "M" stands for: Practice
(A) Mobile
(B) MUDRA
(C) MGNREGA
(D) Microfinance
Correct answer: (A)
JAM = Jan Dhan, Aadhaar, Mobile.
Q3. What is the yearly premium of PM Suraksha Bima Yojana (PMSBY)? Practice
(A) ₹436
(B) ₹12
(C) ₹20
(D) ₹330
Correct answer: (C)
PMSBY (₹2 lakh accident cover) costs ₹20; PMJJBY (life cover) costs ₹436.
Q4. What kind of cover does PM Jeevan Jyoti Bima Yojana give? Practice
(A) ₹2 lakh accident cover
(B) ₹5 lakh health cover
(C) Crop insurance
(D) ₹2 lakh life cover
Correct answer: (D)
PMJJBY pays ₹2 lakh on death from any cause (age 18-50).
Q5. What is the age limit to join Atal Pension Yojana? Practice
(A) 18-50 years
(B) 18-40 years
(C) 18-70 years
(D) 21-60 years
Correct answer: (B)
One can join APY between 18 and 40; pension starts after 60.
Q6. When did Direct Benefit Transfer (DBT) begin? Practice
(A) 1 April 2015
(B) 1 January 2013
(C) 15 August 2014
(D) 1 July 2017
Correct answer: (B)
DBT began on 1 January 2013 to send benefits straight to bank accounts.
Q7. What is the maximum loan under the MUDRA "Shishu" category? Practice
(A) ₹5 lakh
(B) ₹10 lakh
(C) ₹50,000
(D) ₹1 lakh
Correct answer: (C)
Shishu up to ₹50,000; Kishore up to ₹5 lakh; Tarun up to ₹10 lakh; Tarun Plus up to ₹20 lakh.
Q8. What is the maximum loan under the MUDRA "Tarun Plus" category? Practice
(A) ₹10 lakh
(B) ₹15 lakh
(C) ₹50 lakh
(D) ₹20 lakh
Correct answer: (D)
Tarun Plus, announced in Budget 2024-25, covers loans of ₹10 lakh to ₹20 lakh.
Q9. Stand-Up India is meant for: Practice
(A) SC/ST and women entrepreneurs
(B) Only farmers
(C) Foreign investors
(D) Large industries
Correct answer: (A)
Loans of ₹10 lakh to ₹1 crore to SC/ST and women entrepreneurs for new units.
Q10. When was the Startup India campaign launched? Practice
(A) 25 September 2014
(B) 1 July 2015
(C) 5 April 2016
(D) 16 January 2016
Correct answer: (D)
Startup India began on 16 January 2016; 16 January is now National Startup Day.
Q11. PM SVANidhi is for: Practice
(A) Street vendors
(B) Farmers
(C) Students
(D) Senior citizens
Correct answer: (A)
PM SVANidhi (2020) gives working capital loans to street vendors.
Q12. When was PM Vishwakarma launched? Practice
(A) 2 October 2023
(B) 17 September 2023
(C) 15 August 2023
(D) 1 February 2024
Correct answer: (B)
It began on Vishwakarma Jayanti, 17 September 2023, for traditional artisans.
Q13. How much health cover per family per year does Ayushman Bharat PM-JAY give? Practice
(A) ₹2 lakh
(B) ₹10 lakh
(C) ₹5 lakh
(D) ₹1 lakh
Correct answer: (C)
PM-JAY gives ₹5 lakh per family per year for secondary and tertiary hospital care.
Q14. Where was PM Ujjwala Yojana launched? Practice
(A) Varanasi
(B) Patna
(C) Ballia (Uttar Pradesh)
(D) Bhopal
Correct answer: (C)
Ujjwala was launched on 1 May 2016 at Ballia, UP.
Q15. When was the Digital India programme launched? Practice
(A) 25 June 2015
(B) 2 October 2014
(C) 15 August 2016
(D) 1 July 2015
Correct answer: (D)
Digital India was launched on 1 July 2015.
Q16. "Har Ghar Jal" is linked to which mission? Practice
(A) Jal Jeevan Mission
(B) Swachh Bharat Mission
(C) AMRUT Mission
(D) Namami Gange
Correct answer: (A)
Jal Jeevan Mission (2019) aims to give tap water to every rural home.
Q17. Sukanya Samriddhi Yojana was launched along with which campaign? Practice
(A) Swachh Bharat
(B) Beti Bachao Beti Padhao
(C) Make in India
(D) Digital India
Correct answer: (B)
Sukanya Samriddhi began with Beti Bachao Beti Padhao at Panipat on 22 January 2015.
Q18. The PM Gati Shakti National Master Plan relates to: Practice
(A) Multimodal infrastructure connectivity
(B) Sports training
(C) Digital payments
(D) Health insurance
Correct answer: (A)
Gati Shakti (13 October 2021) links road, rail, port and other projects on one digital platform.
Q19. What is the maximum overdraft on a Jan Dhan account? Practice
(A) ₹5,000
(B) ₹2,000
(C) ₹10,000
(D) ₹50,000
Correct answer: (C)
In 2018 the overdraft limit was raised from ₹5,000 to ₹10,000.
Q20. Since 2024, which group is covered by PM-JAY regardless of income? Practice
(A) All government employees
(B) All children under 18
(C) All farmers
(D) All citizens aged 70 or above
Correct answer: (D)
Since October 2024 all senior citizens aged 70+ get cover of up to ₹5 lakh.

📝 Practice questions

Indian Economy — Practice MCQs (Bilingual) Ch 15: Financial Inclusion & Key Economic Schemes
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