PM Modi launches Pradhan Mantri Shram Yogi Mann-dhan Yojana

 1. What is Pradhan Mantri Shram Yogi Mann-dhan Yojana?

Prime Minister Narendra Modi launched the Pradhan Mantri Shram Yogi mandhan (PM-SYM) Yojana on Tuesday. This is the National Pension scheme for workers and labourers of the unorganized sector announced in the interim budget in February.

2. Benefits of the scheme:

Pradhan Mantri Shram Yogi Mandhan scheme provides monthly pension of Rs.3000/- to the unorganized employees after 60 years of age for secure life.

PM Modi distributed the PM-SYM pension cards to select beneficiaries for unorganized sector workers, during National launch from Ahmedabad.

3. Aims of the scheme:

  • The aim of the scheme to uplift the section of society which has been ignored said by Modi also he said new scheme is the extension of various social security schemes implemented during the last five years. Around 42 crore works from the Unorganized sector are eligible for this pension scheme.
  • PM-SYM health coverage provided under Ayushman Bharat and Pradhan Mantri Jeevan Jyothi Bima Yojana, life & disability coverage, ensure the social security coverage for the workers in the unorganized sector to secure life.
  • PM Modi dedicated PM-SYM Yojana to the forty two crore strong unorganized sector workers in the country. This is the first time since independence that such a scheme is envisaged for the crores of workers engaged in the informal sector for the pension scheme.
  • Under Pradhan Mantri Shram Yogi Mandhan scheme, should fill with Aadhar number and bank details to avail the benefits. For the scheme the cost incurred by the Common Service Centre for enrolling a beneficiary will be borne by the Union Government. PMK Modi said that “This is the miracle of Digital India” while explaining the about the scheme.
  • The various schemes initiated by the Union Government like Pradhan Mantri Jeevan Jyoti Bima Yojana, Ayushman Bharat,  PM Awas Yojana, Ujjwala Yojana, Saubhagya Yojana, Swacch Bharat and Pradhan Mantri Suraksha Bima Yojana specifically target those working in unorganized sectors to secure life at old age.