Page 42 - NIS English 16-31 July 2022

Flagship Scheme PM Vaya Vandana Yojana
PM Vaya Vandana Yojana: Highlights of the scheme

HELPING HAND TO THE ELDERLY

For the past eight years, the government has advocated for good governance and the poor's
welfare in order to meet the needs of all segments of society by upholding the ideal of "Sabka
Saath, Sabka Vikas, Sabka Vishwas, and Sabka Prayas." To ensure the social and economic
security of the elderly, the government not only launched the Pradhan Mantri Vaya Vandana
Yojana, but it also increased the contribution amount, extended the contribution date twice,
arranged for a fixed pension, for providing a helping hand in old age to the elderly.

he elders are the source of experience, which number of elderly people has quadrupled during the
Prime Minister Narendra Modi has mentioned last 50 years while the population has tripled. By the
Ton many occasions to take good care of them. year 2036, the population of the elderly in India is
Whether it is about felicitating his elderly teachers expected to reach about 14.9 percent of the total
or honoring two pensioners of Kolkata Port Trust, population. For the social, emotional, and economic
105-year-old Nagina Bhagat and 100 years old needs of the elderly, the government expanded the
Naresh Chandra Chakraborty, by calling them on scope of the Maintenance and Welfare of Senior
stage PM Modi leads by example. You must have Citizens Act 2007 apart from introducing the Atal
also seen the pictures of Prime Minister Narendra Vayo Abhyuday Yojana (AVYAY) as an umbrella
Modi bowing in the honor of elders. With an aim to initiative that includes 5 schemes for the elderly.
make such elderly persons self-reliant by removing Pradhan Mantri Vaya Vandana Yojana was started
their economic dependence on others The Pradhan for the economic self-reliance of the elderly.
Mantri Vaya Vandana Yojana was announced in May CITIZENS ABOVE 60 YEARS OF AGE CAN TAKE
2017. It was launched on July 21, 2017, through THE BENEFIT FROM THE SCHEME
which by making a lump sum investment, any elderly No minimum income limit has been fixed for
person can take advantage of a monthly or yearly availing the benefit of Pradhan Mantri Vaya Vandana
pension. Yojana of the Ministry of Finance. Anyone above 60
In India, the youngest country in the world, the years of age can avail of this scheme. This scheme

40 New India Samachar July 16-31, 2022