Financial Schemes and Subsidies by the Government of India for 2022 (RBI Notification)

Last Updated on Jul 22, 2022 by

Over the years, the Government of India has introduced several welfare schemes for the citizens. These schemes have not just helped the citizens financially, but also played a positive part in the country’s economy. The beneficiaries availing these schemes are the urban-poor, rural people, low-income households, or economically backward sections of society.

In this article, let us check a few financial schemes offered by each state government of India in their respective states.

Financial Schemes and Subsidies in India 2022-2023 – By State

Here’s a list of the 9 states in India and the financial subsidies offered along with their allocations for the year 2022 – 23, Gross State Domestic Product (GSDP), revenue receipts and own tax revenue.

S. No.	Scheme	Description	Allocation for 2022-23 (BE) (Rs. in cr.)	GSDP (in %)	Revenue Receipts (in %)	Own Tax Revenue (in %)
ANDHRA PRADESH
1	Jagananna Ammavodi	Financial assistance of Rs. 15000 to the students’ mother to encourage parents to send children to school	6,500	0.5	3.4	7.1
2	YSR Aasra	Reimbursement of the outstanding bank loans of SHGs as on 11.04.2019	6,400	0.5	3.3	7
3	Electricity Subsidy	Free power supply/ concessional power supply/ cash transfer for electricity for agriculture/ to horticulture farmers/aquaculture farmers.	5000	0.4	2.6	5.5
4	YSR Cheyutha	Financial assistance of Rs. 75,000 to women in the age group of 45- 60 years belonging to SC, ST, BC, and minorities to improve their livelihood.	4,236	0.3	2.2	4.7
5	YSR Rythu Bharosa	Financial assistance of Rs. 7500 per farmer family including tenants and Rs. 13,500 to landless cultivators belonging to SC, ST, BC, Minorities.	3,900	0.3	2	4.3
6	YSR Sunna Vaddi Panta Runalu	Subsidy on interest for crop loans up to Rs. 1,00,000 to the farmers.	500	0	0.3	0.5
7	Dr YSR Aarogya Aasara	Financial assistance of Rs. 225 per day as postoperative sustenance allowance to patients for the postoperative recovery period	300	0	0.2	0.3
8	YSR Vahana Mitra	Financial assistance of Rs. 10,000 per annum to self-owned auto/ taxi drivers for meeting expenses on insurance, fitness certificate, repairs, and other requirements.	260	0	0.1	0.3
9	Financial support to religious person	Salary and remuneration fund to Archakas and other employees	120	0	0.1	0.1
10	Financial support to religious person	Incentives to Imams and Mouzans	126	0	0.1	0.1
10	YSR Nethanna Nestham	Financial assistance of Rs. 24,000 per annum to every handloom owning weaver family to modernise equipment.	199	0	0.1	0.2
Total			27,541	2.1	14.4	30.3
BIHAR
1	Sashakt Mahila, Saksham Mahila	Cash incentives to female students for completing senior secondary and graduation	900	0.1	0.5	2.2
2	Mukhya Mantri Balika Cycle Yojana	Financial assistance of Rs. 3000 per female student	200	0	0.1	0.5
Total			1,100	0.1	0.6	2.7
JHARKHAND
1	Electricity subsidy	Free electricity up to 100 units to farmers and poor	4,855	1.2	5.8	19.5
2	Electricity subsidy	Tariff subsidy to the consumers	1,800	0.4	2.2	7.2
3	Guruji Credit Card Scheme	Soft loan up to Rs. 10 lakhs at a low-interest rate without a mortgage to a student for pursuing higher education.	–	–	–	–
Total			6,655	1.7	8	26.7
KERALA
1	Interest subsidy	On prompt repayment of agricultural loans taken from co-operative institutions	50	0	0	0.1
Total			50	0	0	0.1
MADHYA PRADESH
1	Electricity subsidy	To farmers and domestic users	21,000	1.6	10.8	28.8
Total			21,000	1.6	10.8	28.8
PUNJAB
1	Electricity Subsidy	Free electricity up to 300 units to every household	5,000	0.8	5.2	13.4
2	Waiver	Waive off pending electricity bills.	–	–	–	–
3	Financial Assistance to Women	Financial assistance of Rs. 1000 to every adult woman for female empowerment	12,000	1.9	12.6	32.1
Total			17,000	2.7	17.8	45.4
RAJASTHAN
1	Electricity subsidy	Free electricity up to 50 units for those consuming less than 100 units and concessional rates for higher consumption slab	4500	0.3	2.1	4.6
2	Mukhya Mantri Digital Seva Yojana	Provision of free smartphones to the lady heads of the Chiranjeevi families for 3 years	2500	0.2	1.2	2.5
3	Waivers	Farm loan waivers	1,000	0.1	0.5	1
4	Indira Gandhi Matritave Poshan Yojana	Financial assistance of Rs. 6000 on birth of second child to pregnant women	210	0	0.1	0.2
5	Mukhya Mantri Divyang Scooty Yojana Scheme, Kali Bal Bheel and Devnarayan Yojana	Provision of free scooties to students	170	0	0.1	0.2
6	Rajasthan Krishi Shramik Sambal Mission	Financial assistance of Rs. 5000 to landless farmers to purchase agricultural equipment	100	0	0	0.1
7	Byaj Maafi Yojana	Waiver of mandi charges
Total			8,480	0.6	3.9	8.6
WEST BENGAL
1	Lakshmi Bhandar	Financial assistance of Rs. 1000 to every SC/ST woman and Rs. 500 to every other woman for their financial empowerment	10,767	0.6	5.4	13.6
2	Krishak Bondhu	One Time Grant to the Family of Deceased Farmer under Krishak Bondhu	500	0	0.3	0.6
3	Krishak Bondhu	Financial assistance of Rs. 10,000 to all farmers for agricultural purposes	4,994	0.3	2.5	6.3
4	Kanyashree Prakalpa	Annual incentive of Rs. 75 and one- time grant of Rs. 25,000 to ensure that girls stay in school and delay their marriage until after 18 years of age.	1866.2	0.1	0.9	2.4
5	Rupashree Prakalpa	Financial assistance of Rs. 25000 per indigent woman for the purpose of marriage	750	0	0.4	0.9
Total			18,877	1.1	9.5	23.8
HARYANA
1	Monthly stipend to SC/ BPL/BC students	Monetary incentive to improve the educational avenues of the students and enhance their admission and retention.	242	0	0.2	0.3
3	Mukhjya Manti Vivha Shagun Yojana	Financial assistance to poor families, widows, destitute women, and sportspersons for the marriage of their daughters.	180	0	0.2	0.2
4	Aapki Beti, Humari Beti (Ladli) Scheme	Financial assistance of Rs. 21,000 on the birth of first and second girl child to SC and BPL families.	160	0	0.2	0.2
5	Stipend to college students	Stipends of Rs. 1000 per month to all SC students in a government college in the State for their upliftment and welfare.	45	0	0	0.1
6	Free Bicycles	Provision of free bicycles to SC students in classes IX to XII.	6	0	0	0
7	Scheme for Welfare of Scheduled Castes Families Fisheries Sector	Financial assistance will be provided to the fish farmers, fishermen and fish contractors of notified waters in the State.	5.6	0	0	0
Total			638.6	0.1	0.6	0.9

Note: Data for Punjab pertains to 2021-22 while for the other states it pertains to 2022-23 (BE).

Apart from these, there are several financial savings schemes and subsidies offered by each state government and central government for businesses, education and agriculture. Some of the schemes offer financial security while others provide socio-economic support. Overall, these schemes and subsidies contribute to the financial well-being of the citizens with low income.

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Anjali Chourasiya

I am a finance enthusiast who loves exploring the world of money through my lens. I’ve been dedicated to building systems that work and curating content that helps people learn.

As an insatiable reader and learner, I’ve spent the last two years exploring the world of finance. With my creative mind and curious spirit, I love making complex finance topics easy and fun for everyone to understand. Join me on my journey as we navigate the world of finance together!

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