Global Multidimensional Poverty Index: The Global Multidimensional Poverty Index (MPI) report highlighted that a total of 415 million people moved out of poverty in India within just 15 years from 2005/2006 to 2019/2021. It said that 25 countries, including India, successfully halved their global MPI values within 15 years, showing that rapid progress is attainable.
The report noted that deprivation in all indicators declined in India. The poorest States and groups, including children and people in disadvantaged caste groups, had the fastest absolute progress. In India, those people who are multidimensionally poor and deprived under the nutrition indicator have declined.
Children under the age of 18 account for half of MPI-poor people (566 million). The poverty rate among children is 27.7%, while among adults, it is 13.4%. Countries halved their MPI in periods as short as four to 12 years.
Schengen Visa: As per new data released, India became the second country with the highest rejection rate for the Schengen Visa last year. It is an official document mandatory for some non-Europeans to travel to all the 27 countries which are part of the Schengen area.
Once granted, this visa allows the traveller to cross the borders of the other member-states without going through identity checks at the border. This type of visa is issued by one of the Schengen States and allows you to visit any of the Schengen countries for a duration of up to 90 days in total within 180 days.
Schengen Area: The Schengen Area, or Schengen Countries Zone, is a group of 27 European nations that have abolished their internal borders, for the free and unrestricted movement of people. Members of this area include 23 of the 27 EU member states (except for Bulgaria, Cyprus, Ireland and Romania) and all members of the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland). Switzerland, Iceland, and Norway are not in the EU but are inside of the Schengen Area. Being part of this area means that countries: do not carry out checks at their internal borders, except in cases of specific threats; carry out harmonized controls at their external borders, based on clearly defined criteria.
Senior Citizen Savings Scheme (SCSS): SCSS was launched with the main aim of providing senior citizens in India a regular income after they attain the age of 60 years old.Indian citizens above the age of 60 years.
Retirees in the age bracket of 55-60 years who have opted for a Voluntary Retirement Scheme (VRS) or Superannuation.Retired defence personnel above 50 years and below 60 years of age. It has a maturity period of five years. But, a depositor can extend one’s maturity period for another three years. Individuals are allowed to operate more than one account by themselves or open a joint account with their spouse. Eligible investors can make a lump sum deposit-
- Minimum Deposit– Rs. 1,000 (and in multiples thereof).
- Maximum Deposit– Rs. 30 Lakh.
Under SCSS, the interest amount is paid to the account holders quarterly. After one year of opening the account, premature withdrawal is allowed. Deposits in SCSS qualify for deduction u/s 80-C of the Income Tax Act.
