- Launched on-22nd July 2019
- Launched by-Prime Minister Narendra Modi
- Ministry-Ministry of Labour and Employment
Objective-
- It is a voluntary and contributory based pension scheme for small traders, merchants and shopkeepers which aims to provide them a monthly minimum assured pension of Rs.3000 after attaining the age of 60 years.
Budget allocated:
- Budget allocation for the scheme for the financial year 2019-20 is Rs.750 crore has been embarked by the Government for this scheme in the Union Budget 2019-20.
Beneficiaries-
- Laghu Vyaparis who fall under the following categories:
- Self- employed small merchants and traders
- Shop owners and retail traders
- Rice mill and oil mill owners
- Real estate brokers
- Workshop owners
- Commission agents
Eligibility to subscribe for the scheme-
- Laghu vyaparis whose turn over does not exceed 1.5crores and has saving bank account in his name and Aadhaar number.
- His/her age should be between 18-40 years.
- He/she must not be covered under the National Pension Scheme by the Central Government or Employees’ State Insurance Corporation Scheme.
Benefits-
- Whatever amount will be contributed by the beneficiary, Central Government will also contribute the equal amount as a subsidy to his/her pension account every month.
- Each eligible beneficiary will receive an assured pension of Rs.3000 per month after attaining the age of 60 years.
- In case the subscriber of the scheme dies, his spouse will be entitled to receive 50% of the monthly amount.
MCQs
Q: 1. How much monthly pension will be given to small traders and merchants under Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana?a.) Rs.2000
b.) Rs.3000
c.) Rs.5000
d.) Rs.1000
e.) Rs.1500
Answer-b.) Rs.3000
Explanation-An assured monthly pension of Rs.3000 will be given to the Laghu Vyaparis after attaining the age of 60years.
Q: 2. How much budget has been allocated for the Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana for the Financial year 2019-20?
a.) Rs.750crore
b.) Rs.500crore
c.) Rs.1000crore
d.) Rs.250crore
e.) Rs.1500crore
Answer-a.) Rs.750crore
Explanation-A total sum of Rs.750crore has been embarked by the Government for Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana in the Union Budget 2019-20.
Q: 4. What is the minimum age eligibility required for subscribing for Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana?
a.) 20years
b.) 22years
c.) 18years
d.) 25years
e.) 28years
Answer-c.) 18years
Explanation-In order to subscribe for the scheme, the beneficiaries’ age should be between 18-40years.
