Finance Minister Piyush Goyal on Friday announced a pension scheme called Pradhan Mantri Shram Yogi Mandhan for the workers and labourers. The pension scheme is being launched for those working in the unorganised sector to ensure an increase in Centre’s contribution by 4%. Under the scheme, those who make a monthly income of up to Rs 15,000 will be benefitted. The pension scheme has assured a monthly pension of Rs 3000 per month, with the contribution of Rs 100 per month, for workers in the unorganised sector after 60 years of age.
Apart from the workers and labourers, the FM also assured income schemes for farmers in the interim Budget 2019. With its Pradhan Mantri Kisaan scheme, the government has extended its support to small farmers who have less than two acres. Under the scheme, the farmers will get the support of Rs 6,ooo which will be transferred directly to the bank accounts of farmers in three instalments of Rs. 2,000. The government has allocated Rs 75,000 crore for the scheme.
Instead of rescheduling of crop loans, the farmers severely affected by natural calamities will get 2% interest subvention and additional 3% interest subvention upon timely repayment, announced Goyal in the Budget 2019 today.
Also, Rs 35,000 crore has been allocated under the OROP (One Rank One Pension) scheme so far by the BJP government. Government is eyeing to set up a national centre for artificial intelligence to advance the AI programmes. The government has also increased the gratuity payment limit from Rs 10 lakh to Rs 20 lakh.