Jairam not aware of Atal Pension Scheme: Finance Minister Nirmala Sitharaman's reply
By Mariammal, Published on 5 months ago, 461 Views
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Jairam not aware of Atal Pension Scheme: Finance Minister Nirmala Sitharaman's reply New Delhi: Congress General Secretary Jairam Ramesh has said that the Atal Pension Scheme (APY) is badly designed. He had also said that it was only a paper tiger and therefore of no use to the subscribers.
Union Finance Minister Nirmala Sitharaman's reply on her X website: Jairam Ramesh does not know what is the basic principle for designing a good pension scheme. He uses tricky words to hide the good benefits of adulation. In fact he did not want the poor to benefit.
The ABY plan is ideally structured to continue premium payments until the subscriber opts out. This plan motivates many people to make the right decision and save.
The scheme will have a minimum return of 8 percent. This is guaranteed by the central government. Higher investment returns will result in higher pension to the subscribers. This was stated by the Finance Minister.
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