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PM Narendra Modi launches three mega social security schemes

KOLKATA: Prime Minister Narendra Modi on Saturday launched three ambitious social security schemes, relating to the insurance and pension sector and intended at widening the process of financial inclusion.

On his first visit to West Bengal after taking over as Prime Minister, he kickstarted the “Pradhan Mantri Suraksha Bima Yojana” (accident insurance), “Pradhan Mantri Jeevan Jyoti Yojana” (life insurance) and “Atal Pension Yojana” at a programme in Nazrul Manch here.

After providing bank accounts to 15 crore unbanked people, Prime Minister Narendra Modi Saturday launched three social security schemes, including a Re 1 per day insurance cover, and said that the poor need empowerment, not aid.

Modi said Rs 15,800 crore has been deposited in the 15 crore Jan Dhan accounts opened in four months and the scheme to provide cooking gas subsidy directly into bank accounts of beneficiaries has helped stop pilferages and leakages worth hundreds of crores of rupees.

“I told the poor, this nation, this government and our banks are for you… poor do not want ‘sahara’. We need to change how we think. The poor need ‘shakti’,” he said at the event, also attended by West Bengal Chief Minister Mamata Banerjee.

Modi said 80-90 per cent people in the country neither have insurance cover nor any possibility of pension.

While the three schemes will come into force from June 1, the Prime Minister said that in the first seven days of the trail-run, banks have enrolled 5.05 crore people, including 42 lakh from West Bengal.

Narendra MODI

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