The Central Government is in charge of several government programs. This is an opportunity for the government to include a large budgetary present for employees in the unorganized sector. It is anticipated that the government will be able to expand the Atal Pension Yojana this time. The government guarantees a minimum pension under this system.
On February 1st, the Finance Minister
will deliver the interim budget. A special announcement for the unorganized sector’s workforce can be included in this budget. In a letter to the government, the Pension Fund Regulatory and Development Authority (PFRDA) requested an increase in the pension amount under the Atal Pension Yojana. The sum is up to Rs 7,000. PFRDA Chairman Deepak Mohanty told the media that the government has already been asked to raise the program’s funding. This time, the government may raise the maximum pension amount from Rs 5000 to Rs 7000 to appease the public before the Lok Sabha elections.
5.3 crore individuals are utilizing the program.
how the nation’s inflation rate is rising. Given this, there should be an increase in the maximum pension amount as well. Atal Pension Yojana currently has over 5.3 crore shareholders. Currently, a lot of people are making use of this program.
The program began in 2015–16.
This program was launched by the government in the 2015–16 budget. This program was initiated with the unorganized sector’s population in mind. This pension plan is available to those in the unorganized sector who will not have any income after retirement. The PFRDA is in charge of this program.
Who can profit?
Pension amounts under this arrangement vary from Rs 1000 to Rs 5000 per month. The Indian government also provides a guarantee for this pension plan. The applicant for this pension plan must be between the ages of 18 and 40. In other words, you won’t be able to apply for this scheme after 40 years. There must be a bank account for the applicant.
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