Budget 2019: 3 thousand rupees pension per month for those earning less than 15 thousand - Vice Daily

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Budget 2019: 3 thousand rupees pension per month for those earning less than 15 thousand

Prior to the Lok Sabha elections, the final budget of Modi Government has given a big benefit to the poor workers. Finance Minister Piyush Goyal has announced the mega pension scheme for the unorganized sector workers in the bud…

Prior to the Lok Sabha elections, the final budget of Modi Government has given a big benefit to the poor workers. Finance Minister Piyush Goyal has announced the mega pension scheme for the unorganized sector workers in the budget in 2019.

Announcing Prime Minister Shrimayogi Mannhan Yojana, the Finance Minister said that on a monthly contribution of Rs 100, the workers will get 3000 rupees per month after the age of 60 years. Under this, 10 million workers of the unorganized sector will be guaranteed a minimum pension after retirement.
The benefit of this scheme will be to the workers working in the unorganized sector whose monthly income is less than Rs.15, 000. The benefit of this scheme will be as a financial security scheme for the weakest 25% people in the unorganized sector. This move of the government can benefit domestic maids, drivers, plumber, electricity workers, who earn less than 15 thousand rupees under this scheme.
While presenting the interim budget for the year 2019-20 in the Lok Sabha, Goyal said that this plan will benefit 10 crore workers and this can be the world's largest pension scheme for the unorganized sector in the next five years. India has about 50 million workforce, out of which 90 percent works in the unorganized sector. Such workers usually do not get the minimum wage fixed by the governments nor get social security like pension or health insurance.

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