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Modi embellishes Atal Pension Yojana

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By NewsGram Staff Writer

Pension scheme Atal Pension Yojana (APY) has been modified to make it more viable and acceptable for informal sector workers with intermittent incomes, an official statement said on Thursday.

The provision of mandatory monthly contributions and penal provisions for non-contribution towards the scheme by subscribers have been removed and the new rules allow individual subscribers to make monthly, quarterly or half yearly contributions instead, a finance ministry statement said.

The discontinuation of monetary contribution towards the pension scheme has been greatly modified in favour of the subscriber, while any account will not be deactivated and closed until the account balance with self-contributions minus the government’s co-contributions becomes zero due to deduction of account maintenance charges and fees, the statement added.

Penalty for delayed payment has been simplified to Re 1 per month for a contribution of Rs 100, and the earlier practice of levying different penalties for different slabs has been done away with.

Premature exit from the scheme before 60 years of age was not allowed except in the event of death or terminal illness but now a subscriber can voluntarily exit from the scheme and receive his contribution along with the interest earned on it after deduction of account maintenance charges, the statement said. However, the government’s co-contribution along with the interest earned on it will not be paid.

Launched by Prime Minister Narendra Modi in Kolkata in May, APY aims to provide a minimum monthly guaranteed pension to subscribers ranging from Rs.1,000 to Rs.5,000.

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Prime Minister Narendra Modi Appeals MPs To Utilize Their Winter Season Well

The session would have 20 sittings spread over 29 days

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According to LocalCircles, each person who voted in the survey is registered with the portal with their detailed information and in many cases they shared their residential address.
Modi asks MPs to utilize winter session well, wikimedia commons

Prime Minister Naredndra Modi on Monday appealed to all MPs at an all-party meeting to utilize the winter session of Parliament well as it will be the last full-fledged session before the 2019 Lok Sabha elections.

Addressing an all-party meet at Parliament House a day before the session commences, Modi said the government was ready to discuss all issues as per rules and procedures and was open to the opposition’s inputs for better working of Parliament.

Parliamentary Affairs Minister Narendra Singh Tomar briefed the media on what transpired in the meeting.

“The Prime Minister said that we all need to cooperate with each other on the issues of public interest. He underlined that in a democracy both the government and the opposition share their inputs for efficient governance,” Tomar said, quoting the Prime Minister.

“The Prime Minister also said that the government was ready to discuss all issues as per rules and procedures. If anybody wants to bring something to the government’s notice inside the House or even outside, we are open to it,” he added.

Tomar said that all the political parties present at the meeting have assured full cooperation in the smooth functioning of Parliament.

Narendra Modi
Narendra Modi (Wikimedia Commons)

Asked if the government was ready for a JPC probe in the Rafale fighter jets deal, he said the opposition had several issues including Rafale, farmers’ plight and economy “but they would have to prioritise things as the session was only four weeks long.

“These things can be settled in the Business Advisory Meetings,” he added.

The Minister said a legislation on Ram Mandir was “not the topic of today’s discussion”.

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“When something to this effect comes up, we will let you know,” he said.

He said the government had 46 items on the agenda including three ordinances, Supplementary Budget and government legislations.

The session would have 20 sittings spread over 29 days. (IANS)