Modi to launch 3 new schemes in Kolkata


New Delhi: Prime Minister Narendra Modi will launch three ambitious schemes, including the Pradhan Mantri Suraksha Yojana on May 9 throughout the country.All Indians irrespective of their financial status can avail of the insurance policies at just Rs 12 per year. State finance minister Sudhir Mungantiwar took a review meeting of bankers last week to promote the scheme.

The PM will launch three schemes, namely the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and an old age income security pension scheme, the Atal Pension Yojana (APY).“These schemes were announced during the budget speech to move towards creating a universal social security system, targeted especially at the poor and the underprivileged,” said  Mungantiwar.

He added that Modi would launch these schemes nationally at a function in Kolkata on May 9 at 6 pm. Maharashtra CM Devendra Fadnavis will launch them in Mumbai. “These are revolutionary schemes. There will be no restriction of BPL (Below Poverty Level) or APL (Above Poverty Level) and anybody between 18 to 70 years can buy the policy. The PMSBY policy can be bought by paying just Rs 1 per month.”

In the APY scheme, any person between age 18 and 40 years, contributes Rs 42 per month up to the age of 60, he will earn a pension of Rs 1,000 per month and if he pays Rs 210 per month, he will receive a pension of Rs 5,000 per month.

Mungantiwar said that the scheme would be applicable for each individual who has a saving account. “It is not likely that every member in the family will have a bank account. APY is trying to target the unorganised sector,” he said.

“We held a meeting of all bankers and asked them to find a solution. We will also convey the challenges of implementing the schemes to the Centre,” said Mungantiwar.