The Social Security Landscape Under Modi’s Leadership: A Detailed Overview
Prime Minister Narendra Modi has been a pivotal figure in shaping India's social security landscape since his tenure began. This in-depth analysis highlights some of the key welfare schemes that have been implemented under his leadership. These initiatives aim to provide better economic security and social welfare to the masses, particularly those in the unorganized sector.
Introduction to Welfare Schemes
The period of Prime Minister Narendra Modi's leadership has seen the implementation of several flagship social security schemes. These schemes are designed to address various socio-economic issues, ranging from insurance to retirement benefits, and are targeted to benefit billions of Indians.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Launched on May 9, 2015, in Kolkata, the Pradhan Mantri Jeevan Jyoti Bima Yojana is a life insurance scheme that offers renewable one-year coverage of ?2 lakh. This scheme is specifically designed for savings bank account holders between the ages of 18 and 50. The premium cost is relatively low, amounting to ?330 annually. This initiative aims to provide financial security to individuals in the event of unexpected death.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
The Pradhan Mantri Suraksha Bima Yojana focuses on providing accidental death and disability cover. Targeting individuals between the ages of 18 and 70, this scheme offers a renewable one-year cover of ?2 lakh for both partial and permanent disability. The premium for this scheme is ?12 annually, per subscriber. Through this initiative, the government aims to mitigate the financial risks associated with accidental incidents.
Atal Pension Yojana (APY)
The Atal Pension Yojana is designed to benefit individuals in the unorganized sector, ensuring them a secure financial future through a fixed minimum pension. Participants can choose one of five pension options: ?1,000, ?2,000, ?3,000, ?4,000, or ?5,000 per month, starting from the age of 60. Contributions are made based on the chosen option, and the scheme is available for individuals between the ages of 18 and 40.
Other Significant Welfare Schemes
Besides the flagship schemes mentioned above, the government under Prime Minister Modi has introduced several other welfare initiatives. Here are a few noteworthy ones:
PM-KISAN and PM Kisan Pension Scheme
The Pradhan Mantri Kisan Samman Nidhi Scheme (PM-KISAN) is aimed at providing yearly payments of ?6,000 to poor farmers in three instalments. The PM Kisan Pension Scheme focuses on small and marginal farmers, offering a fixed pension of ?3,000 per month to those aged between 18 and 40. These schemes address the economic challenges faced by rural farmers.
Mega Pension Scheme for Traders and Shopkeepers
The Mega Pension Scheme targets shopkeepers, traders, and self-employed individuals, promising a monthly pension of ?3,000 once they reach the age of 60. This initiative ensures better financial security for a significant section of the population.
New Jal Shakti Ministry and Jan Dhan Yojana
The New Jal Shakti Ministry aims to provide piped water connections to all households by 2024, addressing the water scarcity issue faced by many rural areas. The Jan Dhan Yojana is a mission towards financial inclusion, providing banking services to all households and ensuring access to financial services, including credit, savings, pension, insurance, and remittances.
Skill India Mission and Swachh Bharat Mission
The Skill India Mission focuses on skill training across various sectors, promoting the vision of a skilled workforce. The Swachh Bharat Mission aims to clean India by addressing sanitation and hygiene issues, fostering a cleaner and healthier environment.
PM Shram Yogi Maan-Dhan Scheme
The PM Shram Yogi Maan-Dhan is a contributory and voluntary pension scheme offering assured pension of ?3,000 per month to those aged 60 and above. Family beneficiaries are also supported, with the spouse receiving half the pension in case of the subscriber's death.
Conclusion
Prime Minister Narendra Modi's tenure has been marked by initiatives that aim to improve the lives of millions of Indians. From insurance schemes to pension plans, these welfare programs have provided much-needed financial security and social benefits. As the nation continues to evolve, these initiatives will play a crucial role in ensuring economic stability and social welfare for all.
For more information on these schemes and to access them, you can refer to official government portals and authorized organizations.