Atal Pension Yojana: Interesting data on Modi govt's APY scheme revealed; These may surprise you
Modi government's flagship Atal Pension Yojana (APY) has slowly, but steadily, become widely popular among workers in the unorganised sector.
Prime Minister Narendra Modi-led Union government's flagship Atal Pension Yojana (APY) has slowly, but steadily, become widely popular among workers in the unorganised sector. The scheme offers pension up to Rs 5000 per month upon retirement on a monthly contribution of as little as Rs 210. According to a recent statement by the Ministry of Finance, subscriber base under APY has crossed 1.24 crore mark. Under the scheme, the government of India guarantees the pension benefits. It is very easy to understand and transparent. "More than 27 lacs new subscribers have joined the Scheme during the current financial year, i.e. 2018-19," it said.
Here are some interesting facts about the APY scheme implementation:
- States like Uttar Pradesh, Bihar, Andhra Pradesh, Maharashtra and Karnataka are the top contributors in APY enrollment.
- Uttar Pradesh has highest number of APY subscibers (1,790,481); while Maharashtra has 1,000,604 subscribers and Karnataka 915,260 subscribers.
- Lakshadweep has least number of APY subscribers (295).
- Andhra Pradesh and Telangana, Bihar, Jharkhand, Kerala, Mizoram, Puducherry and Tamil Nadu have 50 per cent or more female APY subscribers.
- Sikkim has just one transgender APY subscriber. As many as eight states and uon territories have zero transgender subscriber.
- Dadra & Nagar Haveli, Daman & Diu, Gujarat, Haryana, Jammu & Kashmir, and Lakshadweep has 70% or more APY subscribers.
- Of the total 463,920,049 people in 18-40 years age group, 3% were covered under APY until 27.10.2016.
- Lakshadweep has least number of female APY subscribers (80).
- The APY scheme allows any Indian Citizen between the age group of 18-40 years to join through the bank or post office branches where one has the savings bank account.
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.