Pradhan Mantri Shram-Yogi Maandhan Yojna

Pradhan Mantri Shram Yogi Maandhan Yojna

Question: Consider the following statements regarding Pradhan Mantri Shram -Yogi Maandhan Yojna:
(1) At least 15 crore labourers and workers in the organized sector will be covered through scheme
(2) Rs. 1000 will be transferred in the bank account of the beneficiary after the age of 60
(3) Rs 500 crore has been allocated for this scheme
of the above correct statement/s is/are:
(a) 1 and 2 only
(b) 2 and 3 only
(c) only 1
(d) All of the above
Answer: (c)
Related facts:

  • Finance Minister Piyush Goyal in his budget speech announced a Mega Pension Scheme Pradhan Mantri Shram-Yogi Maandhan Yojna for workers and labourers in the Un-organized sector.
  • This scheme will cover almost 10 crore labourers with monthly income upto Rs. 15,000 and this pension scheme shall provide them an assured Monthly Pension of Rs. 3,000 from the age of 60 years.
  • If a worker is employed in the Un-organized Sector and he joins the Pradhan Mantri Shram-Yogi Maandhan Yojnaat the age of 18 years then he will have to contribute Rs 55 till the age of 60 years; on joining the Yojna at the age of 29 years the worker will have to contribute Rs 100 till the age of 60 years. Government will contribute equal amount of money in the pension account every month.
  • A sum of Rs. 500 crore has been allocated for the scheme.This scheme will be implemented from the current year.
  • Half of India’s GDP comes from 42 crore Workers in the Unorganized Sector working as street vendors, rickshaw pullers, construction workers, rag pickers, agriculture workers, beedi workers , handloom, leather and numerous  other similar occupations.

                                                                                           By Ramayan Upadhyay

Links:

https://www.indiabudget.gov.in/ub2019-20/bs/bs.pdf

https://indianexpress.com/article/business/pradhan-mantri-shram-yogi-mandhan-unprganised-sector-pension-scheme-5564292/

https://economictimes.indiatimes.com/wealth/invest/pm-shram-yogi-maandhan-eligibility-criteria-for-govts-mega- pension-scheme-notified/articleshow/67910638.cms

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