Political Buzz

50 crore people availing social security cover: Modi

Agency | June 27, 2018 05:24 PM

NEW DELHI: Prime Minister Narendra Modi on Wednesday said that 50 crore people in the country have come under social security cover, which is a 10-time leap from the 2014 figure.

Interacting with the beneficiaries of various social security schemes through video conferencing on the Narendra Modi (NaMo) app, he said that over 20 crore people had reaped the benefits and were secure with the Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana.

Modi said that under the Pradhan Mantri Jeevan Jyoti Bima Yojana, a government-backed Life insurance scheme, "over 5.5 crore people have enrolled themselves and also claimed crores of rupees".

"Over three lakh people have enrolled for the Pradhan Mantri Vaya Vandana Yojana -- a pension scheme for the senior citizens," he added.

The Prime Minister said that about three lakh elderly people have benefited from this scheme started last year, under which citizens above 60 years get 8 per cent fixed return for 10 years.

"In addition, the government also increased the basic limit of income tax from Rs 2.5 lakh to Rs 3 lakh for senior citizens."

Modi also said that the government's social security schemes, launched at a low premium to ensure financial security to people from all social and geographical sections, had helped people cope with the uncertainties of life.

He said that more than 13 crore people had availed the Pradhan Mantri Suraksha Bima Yojana.

"Under this scheme, people can claim accidental insurance coverage of up to Rs 2 lakh by paying a premium of just Rs 12 per year."

On Pradhan Mantri Jan-Dhan Yojana, Modi said: "We emphasised on three aspects -- opening the doors of the banks for the poor, access to capital for small business and budding entrepreneurs and a social security cover for the poor and vulnerable.

"The total number of 28 crore bank accounts opened under this scheme during the period 2014 to 2017 is nearly 55 per cent of the total bank accounts opened in the world."

He also expressed happiness that more women have bank accounts in India now and that the number of bank accounts in India "has reached 80 per cent from 53 per cent in 2014".

"I am particularly happy that more women have bank accounts. It is important for women to be in the financial mainstream."

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