Common Service Centres Current Affairs - 2019

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Bulletin: Pradhan Mantri Kisan Pension Yojana

The Union Cabinet chaired by Prime Minister Narendra Modi has approved Pradhan Mantri Kisan Pension Yojana, a new Central Sector Scheme (CSS), to provide pension cover to farmers. This decision was taken at the first Cabinet meeting after formation of new Government (second term) of Modi Government.

Key Features of Scheme

  • It is voluntary and contributory pension scheme for all Small and Marginal Farmers (SMF) across the country.
  • Eligibility: Entry age of 18 to 40 years with provision of minimum fixed pension of Rs.3,000 on attaining the age of 60 years.
  • Contribution: Beneficiary farmer of this scheme is required to contribute Rs 100 per month at median entry age of 29 years. Central Government will also contribute to Pension Fund an equal amount as contributed by eligible farmer.
  • After subscriber’s death (while receiving pension), spouse of SMF beneficiary is entitled to receive 50% of pension received by beneficiary as family pension, provided he/she is not already an SMF beneficiary of this scheme. In case of death of subscriber happens during period of contribution, the spouse shall have the option of continuing scheme by paying regular contribution.
  • Synergy between PM Kisan Scheme: Beneficiary farmers of this scheme can opt to allow his/her monthly contribution to be made from benefits drawn from Pradhan Mantri KisanSAmman Nidhi (PM-KISAN) Scheme directly. Alternatively, beneficiary farmer can pay his monthly contribution by registering through Common Service Centres (CSCs) under Union Ministry of Information and Technology (MeitY).

Month: Categories: Government Schemes & ProjectsUPSC

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Government approves Monthly Pension Scheme for Traders

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved Rs.3000 monthly pension scheme for small retail traders and shopkeepers after they attain the age of 60 years.

Salient Features of Scheme

  • About: Under the scheme all small shopkeepers, retail traders and self-employed persons are assured a minimum of Rs.3,000 monthly pension after attaining 60 years of 60 years.
  • Beneficiary: The new pension scheme that offers pension coverage to the trading community will cover 3 crore small retail traders and shop keepers.
  • Eligibility: All small shopkeepers, self-employed persons and retail traders aged between 18-40 years and with Goods and Service Tax (GST) turnover below Rs.1.5 crore can enrol for pension scheme.
  • Enrollment: The scheme is based on self-declaration as no documents are required except bank account and Aadhaar Card. Also, the interested persons can enrol themselves via more than 3,25,000 Common Service Centres  (CSC) spread across India.
  • Government Contribution: The Central Government will make matching contribution (same amount as subscriber contribution) i.e. equal amount as subsidy into subscriber’s pension account every month.
  • Significance: Since ages India has a rich tradition of trade and commerce and our traders make a strong contribution to India’s economic growth. Therefore, cabinet decision will benefit the trading community. This pension scheme is a part of Prime Minister’s vision to provide a robust architecture of universal social security.

Month: Categories: Government Schemes & ProjectsUPSC

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