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The first urea subsidy scheme was in 1977 in the form of Retention Price cum Subsidy scheme (RPS). From ₹ 4,389 crore (US$2.51 billion) in 1990 to ₹ 75,849 crore (US$17.43 billion) in 2008. As %ofGDP this is an increase from 0.8% to 1.5%. In 2022-23 financial outlay is ₹ 63,222 crore (equivalent to ₹ 710 billion or US$8.2 billion in 2023).
Direct Benefit Transfer [a] or DBT is an attempt to change the mechanism of transferring subsidies launched by Government of India on 1 January 2013. This scheme or program aims to establish a Giro system to transfer subsidies directly to the people through their linked bank accounts.
The effect of a subsidy is to shift the supply or demand curve to the right (i.e. increases the supply or demand) by the amount of the subsidy. If a consumer is receiving the subsidy, a lower price of a good resulting from the marginal subsidy on consumption increases demand, shifting the demand curve to the right.
Student financial aid (or student financial support, or student aid) is financial support given to individuals who are furthering their education. Student financial aid can come in a number of forms, including scholarships, grants, student loans, and work study programs. Each of these methods of providing financial support to students has its ...
Some of the major initiatives taken so far to rationalise the budgetary subsidies include targeted approach to food subsidy (BPL families) under Public Distribution System, allowing Food Corporation of India (FCI) to access market loans carrying lower interest rates, encouraging private trade in food grains, liquidating excess food grain stocks ...
Even though borrowers have until Dec. 31, 2023, to apply for student loan forgiveness, many are not waiting to start the application process. By applying now, borrowers who received Federal Pell ...
A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still ...
It is a credit linked subsidy scheme in which loans up to 25 lakh for manufacturing sector and up to 1000 Lakh for service sector is forwarded to the eligible beneficiaries for which subsidy of up to 35% is provided to them. [8] The Khadi and Village Industries Commission is the implementing agency at the National level.