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Govt. of India’s Swavalamban Scheme

Special focus towards Economically Disadvantaged and Unorganized Sector

PRAN Card – Permanent Retirement Account Number

A Pension provides people with a Monthly Income when they are no longer Earning.

Saturday, 9 May 2015

PM Modi to launch social security insurance, pension schemes on May 9

On the lines of Jan Dhan mega rollout, Prime Minister Narendra Modi will launch on May 9 social security insurance and pension schemes in Kolkata, while other ministers will unveil them in different cities.

"There would be simultaneous functions across various states with participations from chief ministers and cabinet ministers. It would be like Jan Dhan scheme launch so that we have maximum awareness in minimum time," Department of Financial Services Secretary Hasmukh Adhia told PTI.

"The enrolment for insurance and pension schemes would begin after Prime Minister launches them. However, the insurance cover would be enforced from June 1," he said.

As it will be linked to bank accounts, the premium would get auto debited, Adhia said.

These schemes, to be launched by Modi, are aimed at providing affordable universal access to essential social security protection in a convenient manner linked to auto- debit facility from the bank account of a subscriber, as per a Finance Ministry statement.

These schemes were announced in the Budget by Finance Minister Arun Jaitley on February 28.

The two insurance schemes -- Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) -- will provide insurance cover in case of death as well as death/disability due to an accident. The pension scheme, Atal Pension Yojana (APY), will address old age income security needs.

PMSBY will offer a renewable one year accidental death-cum -disability cover of Rs 2 lakh for partial/permanent disability to all savings bank account holders in the age group of 18-70 years for a premium of Rs 12 per annum per subscriber.

The scheme would be administered through Public Sector General Insurance Companies or other General Insurance companies willing to offer the product on similar terms on the choice of the bank concerned, it added.

PMJJBY on the other hand will offer a renewable one year life cover of Rs 2 lakh to all savings bank account holders in the age group of 18-50 years, covering death due to any reason, for a premium of Rs 330 per annum per subscriber.

The scheme would be offered or administered through LIC or other Life Insurance companies willing to offer the product on similar terms on the choice of the bank concerned.

The pension scheme will focus on the unorganised sector and provide subscribers a fixed minimum pension of Rs 1,000, 2,000, 3,000, 4,000 or Rs 5,000 per month starting at the age of 60 years, depending on the contribution option exercised on entering at an age between 18 and 40 years.

The period of contribution by any subscriber under APY would be 20 years or more.

The fixed minimum pension would be guaranteed by the government.


Sunday, 3 May 2015

Will turn Telangana into ‘golden state’, vows KCR

HYDERABAD: Telangana chief minister K Chandrasekhar Rao on Friday vowed to turn the newly-created Telangana into a 'golden state' by implementing more welfare and development schemes in the next four years.

Addressing the plenary of Telangana Rashtra Samiti here, he said the welfare of all weaker sections, who constitute an overwhelming majority of the state, was the objective of his government.

Rao reiterated that TRS will not seek votes in the next elections if it failed it supply drinking water to every household. He also promised to complete all pending irrigation projects in four years.

For Rao, who was re-elected as party president for the eight consecutive term, it was an event to stamp his authority on a party he founded 14 years ago. It was also an occasion for the chief minister to remind the central government of the promises it needs to keep to the youngest state in the country.

For the party leaders and cadre, it was an occasion to revisit their promises to the people, reaffirm their belief in the ruling party and return home at the end of the day with reinvigorated enthusiasm.

In one of the significant resolutions passed at the plenary, the party demanded that the Centre fulfill assurances made in the AP Reorganization Act 2014 for the Telangana state.

The party passed a resolution, moved by its MP A P Jitender Reddy, urging the Centre to come good on all its promises including setting up of a tribal university, AIIMS, horticulture university, an integrated steel plant in Khammam, rail coach factory and increasing the number of assembly seats to 153 from 119.

The day-long plenary passed 12 resolutions on various issues, hailing various development and welfare schemes launched by the government.

A resolution urged the central government to fulfil all promises made to Telangana at the time of bifurcation of Andhra Pradesh.

Through another resolution, the party vowed to develop Hyderabad as a world-class city. The chief minister said though the successive governments claimed to have developed the city, many areas lacked basic civic amenities.

Finance minister Etela Rajender proposed a resolution on current politics and TRS. He said with separate state now a reality, the goal now should be to create 'Bangaru Telangana' under Chandrasekhar Rao's leadership.

The other resolutions passed at the plenary included making the state power surplus by 2018, Haritha Haram, Telangana drinking water scheme (watergrid) and information technology, irrigation, Mission Kakatiya and schemes being implemented by the state such as Aasara pension, Kalyana Laxmi, Telangana martyrs welfare, and other welfare schemes.

Earlier in the day, home minister Nayani Narasimha Reddy, who supervised poll for the party president post, announced that KCR's was elected unopposed amid thunderous applause from the gathering.

"I am grateful to my colleagues for reposing faith in me and giving opportunity to lead the party for one more term. I thank one and all for the unanimous election," the chief minister told the plenary attended by over 50,000 party functionaries, senior leaders, ministers, MPs and other public representatives.

The TRS women's wing led by Nizamabad MP K Kavitha felicitated KCR by presenting him a 'Bathukamma'. Senior leaders made a beeline to congratulate him.

Addressing the plenary, Chandrasekhar Rao listed out his government's achievements in the past ten months and said his party would not seek votes in the next elections if it fails to fulfill the promises made during the last polls. He also called upon NRIs from Telangana to give away their land in the state so that it can be distributed to the landless dalits.

The chief minister said surmounting the power supply crisis was one his government's major achievements. "We have overcome the power crisis and the state is now free of power cuts," he said.

Referring to the angst of lakhs of unemployed youth in the state, he called upon them not to be disappointed as his government was planning to fill up on lakh vacancies in various government departments. Services of the contract employees would be regularized soon after the ongoing process of employees' distribution between Telangana and Andhra Pradesh gets over.

Articulating his plans for Hyderabad, KCR said his government was ready with a comprehensive plan to turn the state capital into a 'world-class' city. The metro rail project would be extended to the Shamshabad airport and cover outskirts like Ramchandrapuram and Ibrahimpatnam, the CM added.


Rs 3,350 Cr for Pensions under Aasara, Says Telangana State CM

HYDERABAD: Chief Minister K Chandrasekhar Rao assured the State Assembly that all eligible people would be given pension under Aasara Pension Scheme.

“The government will spend Rs  3,350 crore every year on payment of pensions under the new scheme. This is 380 per cent increase over the previous years. In the past Rs 881.23 crore a year was spent by the erstwhile government”, the Chief Minister said.

In a statement in the Assembly, Chief Minister said in all the 10 districts, nearly 39,63,000 applications have been received for sanction of pensions and government officials have taken up verification of eligible persons for sanction of Aasara pensions.

The process of verification and sanction of fresh pensions is still in progress. So far 24,21,000 eligible beneficiaries have been identified for granting Aasara pensions. Rao asserted that his government’s aim was to extend this benefit to all the eligible people.

In view of increasing prices and cost of living, APS was conceived to provide security and help the aged and poor, he stated.

The government has also enhanced monthly pensions from Rs  200 to Rs  1,000 for old persons, widows, weavers, toddy tappers and AIDS patients while for physically challenged persons it has been increased from Rs  500 to Rs  1,500 a month.

Pension amounts given to different categories of beneficiaries would be the highest in Telangana when compared to other States. When the opposition parties demanded a detailed discussion on the pensions issue, Speaker S Madhusudan Chary said the issue would be taken up on Thursday.


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