Twitter
Advertisement

PM Narendra Modi unveils 3 new social security schemes in Kolkata

While two of them are insurance schemes, the third will address income and security needs of the elderly. Modi shared the dias with West Bengal Chief Minister Mamata Banerjee at the launch.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

Prime Minister Narendra Modi launched three social security schemes in West Bengal on Saturday. Modi arrived in Kolkata after his visit to Chhattisgarh. West Bengal Chief Minister Mamata Banerjee, Finance Minister Amit Mitra and state BJP chief Rahul Sinha were also present. Prime Minister Modi launched three social security schemes in Kolkata.

Speaking about the need for making facilities accessble to the poor, the Prime Minister said, "Banks were nationalised for the poor but did we see the poor in the banks? So many people do not have access to pension and insurance."

He talked about the necessity of including the poor in development story of the country, Modi said, " We can achieve whatever but if the fruits do not reach the poor our development journey is incomplete. We are calling the world to Make in India and at the same time we are opening bank accounts for the poor"

"The poor do not want 'Sahara.' We need to change how we think. The poor need 'Shakti'. The poor need strength and the poor must live with dignity," he added. 

Mamata Banerjee addressed the audience before the Modi launched the schemes. "The downtrodden and the poor are the backbone of the Nation," she said. She also expressed the hope that the schemes would reach all stratas of society

While two insurance schemes - the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) will provide insurance cover in the unfortunate event of death by any cause or disability due to an accident, the Atal Pension Yojana (APY) will address the income and security needs of the aged.

The convenient delivery mechanism of the schemes is expected to address the problem of a very low penetration of life or accident insurance and old age income security products in the country.

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

The Bharatiya Janata Party (BJP) on Saturday congratulated Prime Minister Narendra Modi for his plan to launch three major social security schemes. It said that these schemes would transform the lives of the poor.

“In this year’s budget, the Finance Minister (Arun Jaitley) had announced plans to launch three major security schemes. These are Prime Minister Modi’s personal favorutie projects. Prime Minister’s Jeevan Jyoti Bima Yojana (PMJJBY), Prime Minister’s Social Security Yoajana and the Atal Pension Yojana are three schemes that can reach out to the entire population of this country, covering all marginalised sections, giving them an accident cover of up to two lakh rupees, giving them a life insurance cover and giving them a pension beyond the years of their working,” BJP spokesperson GVL Narasimha Rao told ANI.

“I think, Prime Minister Modi deserves congratulations for bringing about these massive projects, covering massive programmes and covering the entire population for social security. This was lacking for the last six decades of independence and this will transform the lives of poor people,” he added.

With ANI inputs.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement