The central government is considering doubling the minimum amount of the social security scheme Atal Pension Yojana. According to the information revealed, a big decision can be taken on this before Budget 2024.
Atal Pension Yojana: Union Finance Minister Nirmala Sitharaman will present the full budget for this year in the Lok Sabha on July 23. A big announcement is also expected in this budget regarding the social security scheme Atal Pension. In this regard, sources said that the government is assessing a proposal in view of its fiscal impact and a big decision can be taken on doubling it before the budget is presented. The central government is considering strengthening the social security framework in the country. Apart from this, the government is preparing the ground for implementing the Labor Code.
6.62 crore people opened account
According to the data till June 20, a total of 6.62 crore people have opened their account in the Atal Pension Scheme. 1.22 crore new accounts will be opened in the year 2023-24. An officer associated with the matter said on the condition of anonymity, “Some proposals have been made to make the Atal Pension Scheme more attractive, including increasing the guaranteed amount. These are being considered.”
Consideration to increase the minimum amount
Let us tell you that at present, Rs 5000 is given every month under the Atal Pension Scheme, which is being considered to be doubled to Rs 10000 per month. Last month, Deepak Mohanty, Chairman of Pension Fund Regulator and Development Authority, said that the enrollment under Atal Pension Yojana in 2023-24 has been the highest since the launch of the scheme. Let us tell you that this social security scheme was launched in the year 2015.
The Finance Minister had said this
It is worth noting that earlier this year, Finance Minister Nirmala Sitharaman had said that the Atal Pension Yojana was designed as an affordable scheme with a guaranteed pension amount. In a post on social media account X, she said that the scheme has given a return of 9.1% since inception and it is quite competitive compared to other savings schemes.
