Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana

• Launched on-22nd July 2019
• Launched by-Prime Minister Narendra Modi
• Ministry-Ministry of Labour and Employment

Objective-

• It is a voluntary and contributory based pension scheme for small traders, merchants and shopkeepers which aims to provide them a monthly minimum assured pension of Rs.3000 after attaining the age of 60 years.

Budget allocated:

• Budget allocation for the scheme for the financial year 2019-20 is Rs.750 crore has been embarked by the Government for this scheme in the Union Budget 2019-20.

Beneficiaries-

• Laghu Vyaparis who fall under the following categories: 
• 1. Self- employed small merchants and traders
  2. Shop owners and retail traders
  3. Rice mill and oil mill owners
  4. Real estate brokers
  5. Workshop owners
  6. Commission agents

Eligibility to subscribe for the scheme-

• Laghu vyaparis whose turn over does not exceed 1.5crores and has saving bank account in his name and Aadhaar number.
• His/her age should be between 18-40 years.
• He/she must not be covered under the National Pension Scheme by the Central Government or Employees’ State Insurance Corporation Scheme.

Benefits-

• Whatever amount will be contributed by the beneficiary, Central Government will also contribute the equal amount as a subsidy to his/her pension account every month.
• Each eligible beneficiary will receive an assured pension of Rs.3000 per month after attaining the age of 60 years.
• In case the subscriber of the scheme dies, his spouse will be entitled to receive 50% of the monthly amount.

MCQs

Q: 1. How much monthly pension will be given to small traders and merchants under Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana?
a.) Rs.2000
b.) Rs.3000
c.) Rs.5000
d.) Rs.1000
e.) Rs.1500

Answer-b.) Rs.3000

Explanation-An assured monthly pension of Rs.3000 will be given to the Laghu Vyaparis after attaining the age of 60years.

Q: 2. How much budget has been allocated for the Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana for the Financial year 2019-20?
a.) Rs.750crore
b.) Rs.500crore
c.) Rs.1000crore
d.) Rs.250crore
e.) Rs.1500crore

Answer-a.) Rs.750crore

Explanation-A total sum of Rs.750crore has been embarked by the Government for Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana in the Union Budget 2019-20.

Q: 4. What is the minimum age eligibility required for subscribing for Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana?
a.) 20years
b.) 22years
c.) 18years
d.) 25years
e.) 28years

Answer-c.) 18years

Explanation-In order to subscribe for the scheme, the beneficiaries’ age should be between 18-40years.

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