LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

This Modi government scheme is set to benefit 3 crore retail traders, shop keepers

Under this scheme, all shopkeepers, retail traders and self-employed persons are assured of a minimum monthly pension of Rs 3,000/month after attaining the age of 60 years

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
This Modi government scheme is set to benefit 3 crore retail traders, shop keepers
Based on self-declaration, the scheme will not require any other document except Aadhaar and bank account. Image source: Reuters
Written By: ZeeBiz WebTeam
Updated: Sat, Jun 01, 2019
05:22 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Modi government planning accidental insurance cover of up to Rs 10 lakh for GST-registered small traders Modi government planning accidental insurance cover of up to Rs 10 lakh for GST-registered small traders
Govt to introduce reverse charge mechanism to check GST evasion Govt to introduce reverse charge mechanism to check GST evasion
Agriculturists, small traders exempt from registering under GST Agriculturists, small traders exempt from registering under GST
30% tax advantage for digital transactions: Jailtey 30% tax advantage for digital transactions: Jailtey

India has a rich tradition of trade and commerce, and traders have made a strong contribution to the country's economic growth. Looking at this legacy, Union Cabinet, chaired by Prime Minister Narendra Modi, on Friday decided to approve a new scheme offering pension coverage to the trading community, said a government statement, adding that it is part of the Prime Minister’s vision to provide a robust architecture of universal social security.

Under this scheme, all shopkeepers, retail traders and self-employed persons are assured of a minimum monthly pension of Rs 3,000/month after attaining the age of 60 years. All small shopkeepers and self-employed persons, as well as the retail traders with GST turnover below Rs 1.5 crore and age between 18-40 years, can enrol themselves for this scheme, said the statement, adding that it will benefit more than 3 crore small shopkeepers and traders.

Based on self-declaration, the scheme will not require any other document except Aadhaar and bank account. Interested persons can enrol themselves through more than 3,25,000 Common Service Centres spread across the country. 

According to the statement, the government will make a matching contribution in the subscribers’ account. For example, if a person with age of 29 years contributes Rs 100 month, then the Centre will also contribute the equal amount as subsidy into subscriber’s pension account every month.

Notably, by introducing a pension architecture for the trading community, the Prime Minister and his team have fulfilled a major promise made to people prior to general elections about the need to provide a pension for traders so that a life of dignity and financial security is assured, especially during their old age.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
small traderspension scheme
RELATED NEWS
Modi government planning accidental insurance cover of up to Rs 10 lakh for GST-registered small traders Modi government planning accidental insurance cover of up to Rs 10 lakh for GST-registered small traders
Govt to introduce reverse charge mechanism to check GST evasion Govt to introduce reverse charge mechanism to check GST evasion
Agriculturists, small traders exempt from registering under GST Agriculturists, small traders exempt from registering under GST
30% tax advantage for digital transactions: Jailtey 30% tax advantage for digital transactions: Jailtey

LATEST NEWS

India's Marvel! World's highest rail bridge arch on Chenab in Jammu and Kashmir nears completion, says Piyush Goyal

Iconic! Deepika Padukone to become Levi's global brand ambassador

IBPS PO scorecard released on ibps.in—Here is how to check

CSBC Bihar Police Constable Syllabus: Admit Card 2021 released! Check at csbc.bih.nic.in for salary, exam pattern

Big development! Government announces new guidelines to curb misuse of social media platforms; 3 tier mechanism for OTTs

Naandhi Box Office Collections Worldwide: Shouting success! Blockbuster justice! Allari Naresh says thanks to fans for so much love

7th Pay Commission: Big bonanza on Dearness Allowance (DA), Dearness Relief (DR) for Central Government employees, pensioners coming before Holi?

Redmi K40, Redmi K40 Pro launch today: Check timings, how to watch event live streaming

EXCLUSIVE: Anil Singhvi reveals what may be a booster shot for Rane (Madras), Bosch shares

Good news for these government workers - Insurance benefit up to R 5 lakh, loan up to Rs 2 lakh for daughter's marriage in this state

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved