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Indian Economy

On home turf:Prime Minister Narendra Modi addressing a rally in Ahmedabad on Tuesday.Vijay SonejiVijay Soneji  

Prime Minister Narendra Modi on Tuesday launched the Pradhan Mantri Shram Yogi Mandhan (PM-SYM) Yojana. The national pension scheme for workers and labourers of the unorganised sector was announced in the interim Budget in February this year. It provides for a monthly pension of Rs. 3,000 to the employees of the unorganised sector after 60 years of age.

During the national launch from Ahmedabad, Mr. Modi also distributed the PM-SYM pension cards to select beneficiaries and claimed that for the first time in independent India, workers of the unorganised sector would be entitled to monthly pension.

He said the new scheme is the extension of various social security schemes implemented during the last five years of the NDA government. According to him, 42 crore workers from the unorganised sector are eligible for this pension by contributing Rs. 55 to Rs. 200 monthly.

“This scheme is aimed at uplift of the section of society which has been ignored and left at the mercy of God,” he said, adding that the “they (Congress) only gave slogans for Garibi Hatao (remove poverty).”

“What they could not do in 55 years, this government has done in 55 months,” Mr. Modi said. “They (Opposition) want to strike Modi, but I want to strike at terror,” he said, referring to the recent air strike by the Indian Air Force inside Pakistan.

“I want to fight poverty and work for the poor but they are all ganged up to remove this chowkidar,” he said.

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