Ayushman Bharat Yojana is new initiative under National Health Protection Mission. It is an affordable health insurance scheme for the Indian citizen. It is a step towards providing social security to the poor people of India. The scheme announcement was made by PM Narendra Modi on Independence Day speech. The second name to this scheme is Modicare.
It is generally seen that poor people suffers a lot due to unavailability of social security especially when it comes to healthcare. To solve this problem, new scheme called as “Ayushman Bharat Yojana” is launched. The prime objective of this Yojana is to provide quality healthcare insurance coverage to poor people in India. Key feature and details about Ayushman Bharat Yojana are given below.
Ayushman Bharat Yojana
Insurance Coverage – Maximum 5 Lakh sum assured per family per year
Type of Insurance – Family floater type insurance policy
Premium – Premium amount will be reasonable and will be fixed by the state health agencies
Cashless benefits from any public and private empaneled hospitals
A defined transport allowance pre-hospitalization will be paid to the beneficiary
Daycare treatment benefits (as applicable)
Follow-up care benefits
Pre and post hospitalization expense benefits
Newborn child/ children benefit
Pre-existing diseases conditions will be covered with a certain exclusion
Eligibility Criteria of Ayushman Bharat Yojana (Modicare)
This scheme will be offered to poor people as per data collected under social economical caste census conducted by the government in 2011.
Aadhaar card is not mandatory to avail benefit under this scheme but valid ID is required to get treatment at the hospital.
There is no limitation about family member under this scheme.
Target Audience – Poor and economically backward class people which includes –
Family with no adult member between 16 to 59 years.
Family only headed by female member
SC/ST household
Casual Labor
Primitive tribal groups
Domestic worker/ Street vendor/ Cobbler/Hawker/ Other service provider working on streets
Construction worker/ Plumber/ Mason/ Labour/ Painter/ Welder/ Security guard
Transport worker/ Driver/ Conductor/ Helper
Shop worker/ Assistant/ Peon in small establishment/ Helper/Delivery assistant /
Attendant/ Waiter
Above professions are tentative and subject to change.
How to check eligibility for Ayushman Bharat | PM – Jan Arogya Yojana?
The facility of checking eligibility for Ayshman Bharat Yojana is launched. Follow the process given below to check if you are eligible for Ayushman Bharat Jan Arogya Yojana or not.
The first step is visiting – https://mera.pmjay.gov.in/search/
It is AM I Eligible Portal. On the landing page you need to enter an active mobile number (to receive an OTP) and enter the Captcha letters displaying on the screen. Next is clicking on generate OTP button. Once you press that you will receive an OTP as a text message on the mobile number entered. Once you enter this OTP for verification you will be directed to a page where you need enter search details.
Now you can check your eligibility for Pradhan Mantri Jan Arogya Yojna by entering state, name, age, district, village etc.
Medical Treatment Location under Ayushman Bharat Scheme (Modicare)
It is claimed that like normal insurance scheme, a patient can get treatment in most the private hospital as well as government hospitals. However, it is mandatory for that hospital to be part of Ayshman Bharat network. The treatment given under this scheme will be 100% cashless.
In every hospital one ‘Ayushman Mitra’ will be appointed. A task of Ayushman Mitra will be to guide patient and family about the process. This is to ensure that patient and family get relevant help. Apart from that Ayshman Mitra will also check document to verify eligibility and enrolment to the scheme.
Insurance companies like LIC of India, National Insurance, Oriental Insurance, New India Assurance, United Indian Assurance shall be involved in providing insurance under this scheme.
The details given above are from public domain and subject to revision. Updates and Amendment will be added
A credit score is a crucial thing for getting a loan. You might have seen that it is very easy for few people to get loans, while other struggles a lot to get a loan. The main reason behind quick and easy loan approval is creditworthiness. A creditworthiness is determined by a credit score. It denotes whether you are a safe borrower or a risky borrower. If your credit score is good you are a safe borrower and if your credit score is bad you become a risky borrower. A good and bad credit score is determined by various factors like loan repayment history, no payment delay etc.
Why Credit Score?
Earlier, when the number of individual borrowers was small, each bank or lender used to do its own due diligence for determining credit ratings. However, at a later stage due to the increase in numbers of borrowers CIBIL organization was institutionalized. CIBIL stands for Credit Information Bureau Limited. It maintains credit information records of every individual. Based on the credit rating CIBIL assigns a credit score to the individuals. A credit score is a three-digit number between 300 and 900. Higher the credit score better is your creditworthiness. Bank and NBFC will be comfortable in offering you a high-value loan and credit card if your credit score is good.
Here is a quick summary of credit score range, credit health, and risk level.
Credit Score Range
Credit Health
Risk Level
850 – 900
Excellent
Very Low Risk
750 – 850
Good
Low Risk
650 – 750
Fair
Moderate Risk
500 – 650
Poor
High Risk
300 – 500
Bad
Very High Risk
By now, you must have got a fair idea about the importance of a good credit score. Now, let’s look at benefits of good CIBIL credit score.
Fast Loan Approval and processing – Your loan approval and processing will be faster if your credit score is good.
Instant Credit Card Approval with higher limit – Your credit card approval will be instant and faster. You will get a higher credit limit in credit cards.
Higher loan amount – Your chance of getting approval for higher loan amount will be higher.
Low-interest rates – Bank and NBFC may offer low-interest rates if your credit score is good.
Higher Repayment Tenure – You may be offered higher repayment tenure by banks or credit card companies.
Looking at benefits give above you must be excited to know and improve or boost credit score.
Well, now you can get a free copy of a credit report every year. A credit report contains your credit score.
If your credit score is good you 750 or above, you need not to do anything. But, if your credit score is below 650 you should follow the steps given below to improve and boost credit score.
7 Ways to Improve and Boost Credit Score
No late payment or defaults
The first thing you need to do is maintain a habit of paying on time. No one likes late payment of defaults. Make sure you pay all your credit card dues and loan EMI on time. This is sure-shot ways to improve and boost your credit score. If you are bad and remembering dates of making payments you should setup auto debit facility in credit card and EMI.
Don’t consume entire credit limit
The second sure-shot way to boost your credit score is following a rule of not consuming entire credit limit. Higher outstanding balance impact your credit score negatively. Keep utilization of your credit card limit under control. I recommend only consuming 1/3rd of maximum credit limit.
Keep only few credit card and loans
You should reduce number of loans and credit cards. You can cancel all your unused credit cards and keep one or two. If possible reduce number of loans by making repayment. It will surely help you to improve your credit score.
Mix of Borrowings
Having a combination of secured and unsecured loans helps you to build and maintain a good credit score. It also influences your ability to borrow. It is recommended to reduce you unsecured loan and credit card outstanding.
Stop loan and credit card inquiries
You should not send too many inquiries about loans or credit cards to lenders. Sending too many inquiries indicates that you have financial problems and you are looking for borrowings. This will reduce your credit score.
Don’t become a guarantor for others
Don’t become a guarantor for others. When you become a guarantor for other loans you are liable to pay dues in case borrower fail to pay dues. It is the biggest risk on creditworthiness. You should avoid becoming a guarantor for others to boost credit score.
Maintain Good Credit History
Last way to boost your credit score is to maintain good credit history. If you maintain good record of repayment your credit score will improve.
Conclusion –
Hope you are now clear about how to Boost Credit Score? If you wish to add any important points about improving credit score feel free to share the same in the comment section.
Passive Income. Everyone today desires for a passive income. Everyone wants to make money without doing anything. But, most of the people don’t have a mindset of making passive income. Let’s try to understand this by doing one simple exercise.
Think for two minutes and answer one simple question. In the future, how you visualize your cash inflow? In other words, what will be your main source of earning in the future?
I am 100% sure that maximum people have answered either job or business. Some smart people might have thought to earn money via both job and business. Good, I appreciate this approach. Whatever will be your approach, but one thing will be common – You need to work for earning money.
You work for money = Active Income.
Today, I will share a new approach – Earn money without doing work or Work only for once and get a regular income. Sounds interesting right! It is called as a Passive Income.
A passive income is an income which does not require active involvement. E.g Earning from rent, passive partnership, or other sources of income where the earner does not take an active part.
Passive jobs are spare time income sources that help you in bearing the extra expenses of your family. A decent passive income source might allow you to lead a lavish life.
So, if you are interested in earning passive income, please continue reading. In this post, I will share 25 different ways to automate your cash flow. All these passive income ideas are proven and tested. So, if you have extra time and desire to build extra income in free time here is Best Passive Income Ideas.
25 Best Passive Income Ideas
There are three different ways to generate passive income.
By Investing Time
By Investing Money
By renting out things
Here, I have included all ways to generate passive income.
Passive Income Ideas by Investing Time
Insurance Agent
Insurance agent is very good career opportunity. You can earn very good passive income via this profession. All you need to do is sell insurance policies to people. You will earn commission income year on year. You require good marketing skill to become insurance agent.
Multilevel Marketing
Multilevel marketing or network marketing is very good passive income idea. This idea requires lot of time at initial stage. The income level in this business depends on your marketing and convincing skill. In this business, you need to create members under you for selling products and services of MLM Company. You need to be careful in selecting MLM Company. Amway is recommended MLM Company to start with.
Start Video Channel
Youtube Video channel is another passive income generation idea. In this idea, you need to make and upload unique videos on YouTube. You will be paid advertisement share on these videos. People are earning $1000 to $10000 by making video channel.
Affiliate Marketing
Affiliate marketing is next passive income generation idea. In this idea, you need to recommend a product to others. You can use email, WhatsApp or SMS marketing for this. If someone buys a product via you, you will be paid a commission. Mostly all online store including Flipkart, Amazon offers affiliate marketing membership. Your commission level depends on commission rate.
Write Blog and Earn from Adsense
The next passive income generation idea is to create a blog and sell a space for the advertisement. It is a very good way to generate continuous income. To generate income from blog you need to be very good at writing content. Once your blog is popular you can apply for Adsense Program by Google. There are many people who are earning $1000 to $5000 per month from a blog.
Write a Book
If you are knowledgeable and good at writing you can write book and earn lot of money. You have to write book based on your area of interest. Once your book is ready you need to contact various publisher for publishing book. Once your book is publish, you will get royalty as commission income on sale of every book.
Create an App or Game
The next passive income generation idea is from app or game. If you have a skill you can create an app or game and sell it online for generation of income. There are many people who are earning regularly by selling app and game.
Sell Photographs Online
If you have skill to click good photograph you can covert this skill to stream of passive income. You need to click photograph and sell it online for generation of income. There are many companies looking for unique photos for advertisement.
Make your Music Album
The next passive income generation idea is making your own music or song and selling it online. In this idea first you need to gain popularity. You can use social media for the same. Once you become popular you can launch your music video and generate royalty income.
Online Course or Tutorial
With the emergence of online tutorial platforms, making money through online courses has become a more accessible source of income and thus one of the best passive income idea.
Once you are done with creation of online course you can publish it online at blog or third-party online learning portal. This portal notify potential customer. If customer purchase your education course you will get money.
Selling unused products online is next in the list of passive income generation idea. In this business, you need to sell your unused products online for money. This idea works only if you have lot of unused products.
Design Customized Products
Another passive income idea is designing gifting merchandises such as t-shirts, coffee mugs and photo frames. Creativity is important for this idea. After designing product you can sell it online or open offline store for customized products.
Online Market Place
Opening online e-commerce store or online market place is another best passive income idea. In this business, you need to approach distribution and ask them to sell their product on your market place. Once your portal gets popular you can make money from every sell.
Passive Income Ideas by Investing Money
Peer 2 Peer Lending
Peer 2 Peer lending is becoming popular business option. You can use Peer 2 Peer Lending for generation of passive income. In this business, you can lend your extra money to someone else and enjoy the interest income. There are multiple P2P lending portals available online. This idea requires a lot of investment.
Stock Market Trading
Stock market is another very good way to generate extra income. In this business, you need to buy shares from the market at lower price and sell at higher price. It is also known as share market trading. There are many people who earns regular income from stock market trading.
Dividend Income
Dividend Income is another best passive income idea. In this idea, you need to invest your money in stock market or mutual fund. You need to select high dividend paying fundamentally strong stock for the investment. These stocks will generate regular dividend income for you.
Invest in Mutual Fund
Mutual Fund is one of the best investment option. In mutual fund you need not worry about selection of stocks. A mutual fund manager invest money after doing careful research. If you are looking for regular income from mutual fund, you should invest in MIP.
Create a Business System with Franchise Concept
Next best passive income idea is earning from the franchise of business. If you are good at doing business you can start your own business and offer franchise with fixed commission. It requires lot of time and money to establish business and start franchise business concept.
Invest in business as a silent partner
If you don’t have time but if you have enough money for investment, you can invest in the business and earn income as a silent partner. You need to be careful in the selection of business.
Interest Income
The next best passive income generation idea is interest income. There are two ways to earn interest income, first is by putting money in the fixed deposit and second is by lending to your friends and relative to generate extra interest income.
Passive Income Ideas by renting out things
Rent Income from residential property
Once you have residential real estate property, you can sell it or put it on rent. A residential property leasing and renting is lucrative option of earning money. The investment required for this idea is very high. It is recommended option only for High Net worth investor.
Rent your vehicle
One of the best ideas for passive income generation is buying a car and giving it on the rent. You can give it on rent to private companies or to car renting companies. There are many local business who opt for vehicle on rent.
Renting other items via online platform
When it comes to renting apart from residential property, you can rent other items such as furniture, appliance, bike, TV etc on rent. There are website like rentmojo that allows you to rent items and earn monthly income.
Rent Income from commercial property
A demand of commercial property is very high. If you have money you can start commercial property rent business. It is one of the best passive income generation idea.
Advertisement Initiatives
One of the simplest passive income idea is advertisement initiatives. You might have seen advertisement hoardings on road or at roof of the property. If you have empty space in front of your house or at roof you can rent this space for advertisement.
Conclusion – At the end, I would like to conclude the discussion by saying that everyone should work towards establishing a passive income for the future. All passive income ideas mentioned above are best from the lot. However, it will take a substantial amount of time and money at the initial stage.
You need to pick passive income Idea, make a plan and dedicate yourself till you become financially free.
If you need any help or guidance for building passive income, feel free to share it via comment section.
There are several business ideas which are trending now. However, one would look at the high profitable business idea to start. There is no point in starting a business that can give low to moderate margins in the medium to long-term. This article would provide some of the high profitable business ideas to start now. One should start such business based on their interest and passion towards these businesses to be successful.
10 High Profitable Business Ideas
Here is the list of highly profitable business ideas to start now.
1) Interior Designing
These days everyone is thinking of having their dream home at a young age. They are even planning to spend money on interior designing to make it as beautiful home. If you can do interior designing course for few months, this could be good profitable business idea. When customer approaches, you can provide a plan and see that this is executed by your team and earn good profits.
2) Online Grocery Store
One of the evergreen ideas is a grocery store. These days both husband and wife are going for job and has less time to spend together. On top of this, they do not have much time in getting things what they need at home. You can start online grocery store in a particular city and delivery groceries at customer doorstep.
Fashion Designing is trending in India now. You can do course about fashion designer and start your own fashion designing. Many women do not go for readymade garments as they don’t fit their exact size. Here is where you can encash such opportunity. You can open fashion designer store in your locality and engage few workers to run this business. This is high profitable business idea.
4) Jewellery Maker
Gold prices would go up or down. However, Indians would continue to love gold. They wear gold ornaments in weddings, birthday functions, get-togethers etc., One can start as jewellery maker and earn good margins.
5) Event Organiser
Life has become busy for everyone. People are looking for professionals to organize for weddings, birthdays, get-togethers etc., If you have a skill of getting people together, event organizer business could create wonders for you. You can employ few people and see that such events are successful. If you can get good name by conducting few events, customers would follow you automatically.
6) Catering Services
If you are good in cooking, you can start catering services which is high profitable. You need to have good masters who should be specialist in preparing food items. If you can deliver good food, with word of mouth, customers would automatically come to you.
7) Pharmacy Store
One more ever green business is pharmacy. With increasing population and abnormal food habits, individuals are being hospitalized for even small illness. With this scenario there is increase in pharma business. You can buy medicines at wholesale rates and sell them for retail and get good profits.
8) Mobile Store
Gone are the days where one used to keep their mobile or years together. These days people are buying mobile phones every 1 year or 2years.There is increase in demand as most of the family members at home are having mobile phones. You can open a mobile store in your locality which is a high margin business.
If you have a passion to create unique videos, YouTube channel monetization could be a high profitable business. You can apply for Google Adsense for revenue monetization. You just need to keep pumping videos on a regular basis and you can get good money from this.
10) Mobile Food Court
These days people are worried more about getting good quality food at their work location. You can choose a good location and open mobile food court there. You don’t need to pay any rent as you prepare food on your truck and sell then and there. Many people are loving mobile food court as it comes with low cost and high quality. If you can maintain good quality good, this could be good profitable business idea.
Conclusion – The above are some of the highly profitable business ideas. You can choose one of the business ideas based on your interest and passion.
If you enjoyed this article, share it with your friends and colleagues through Facebook and Twitter.
This is a guest post from Suresh KP who is founder of Myinvestmentideas.com which talks about Best Investment Plans, Top Mutual Funds and Business Ideas.
