Arun Jaitley’s Budget 2015: 4 Aam Aadmi power points

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Published: March 1, 2015 12:26:27 PM

Union Finance Minister Arun Jaitley presented the Budget 2015 on 28th February.

Live Economic Survey 2015, Economic Survey 2015, Economic Survey, economic Survey of India, economic growth, Indian Economy, Arun jaitleyThe Centre has proposed to launch Atal Pension Yojana to provide a defined pension based upon the contribution and its period. PTI

Union Finance Minister Arun Jaitley presented the Budget 2015 on 28th February. Here are the 4 Aam Aadmi power points:

Security net

The finance minister has proposed to create an universal social security system for all Indians. Through its soon-to-be-launched Pradhan Mantri Suraksha Bima Yojana, it looks to provide an accidental cover of Rs 2 lakh for a premium of just Rs 12 per year.

Atal Yojana

The Centre has proposed to launch Atal Pension Yojana to provide a defined pension based upon the contribution and its period. The govt will contribute 50% of the contribution limited to Rs 1,000 per year, for 5 years, in the new accounts opened before December 31, 2015.

Jeevan Jyoti

Also, within the social security scheme, the finance minister announced Pradhan Mantri Jeevan Jyoti Bima Yojana that will cover both natural and accidental death risk of Rs 2 lakh at a premium of Rs 330 per year for everyone in the age group of 18-50.

Welfare fund

The FM also proposed to use the unclaimed deposits of about Rs 3,000 cr in the PPF and around Rs 6,000 cr in the EPF for a senior citizen fund. The corpus will be used to subsidise the premiums of pensioners, BPL card-holders, small and marginal farmers etc.

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