Modi Cabinet 2.0 announces Shramyogi Mandhan Yojna - pension for over three small traders, shopkeepers

After taking decisions on schemes which benefit poor as well as low-income farmers, PM Narendra Modi and his cabinet took ar decision that will affect three crore trers and shopkeepers.

Union Cabinet has approved to provide universal social security scheme which assured all shopkeepers, retail trers and self-employed persons minimum monthly pension of Rs 3,000 per month after y reach of 60 years.

Those eligible for scheme are small shopkeepers and self-employed people, and retail trers with GST turver below Rs 1-5 crore.   limit for subscribers of pension is between 18-40 years.  scheme is run through Life India Corporation (LIC). 

Those over 28 years of will have to pay Rs 100 and those over 40 years of will have to pay to Rs 200 to benefit from scheme.

government will match its contribution to amount paid by subscribers' account.

RE | "Our Government’s First Decision Dedicated To Those Who Protect India!," Writes PM Modi As Cabinet Approves Major Changes In PM’s Scholarship Scheme

dressing media on cabinet meeting that took place earlier on Friday, Union Minister Prakash Javekar said:

"One more decision has been taken for small shopkeepers, a pension scheme has been initiated for m. Five crore small businessmen and trers are included in this. If ir is over 28, n Rs 100 per month will be cost of this scheme, those over 39 years of will have to pay Rs 200. This too is a landmark decision."

Re details of scheme below:

WATCH: PM Narendra Modi Speaks About Accidental Insurance, Pension Scheme For Trers During Mega-outreach In New Delhi

Earlier on Friday, PM Narendra Modi and his cabinet of ministers held first ever meeting at South Block in Secretariat building.

decision of extending PM-Kisan Yojana's periphery taken on Friday. Under this scheme, households with agricultural landholdings smaller than two hectares or five acres are eligible to receive Rs 6,000 annually as direct benefit transfers from Centre.

MASSIVE | Modi Govt Plans Bro-basing Farmers Welfare Scheme, Will Discuss Extending PM Kisan Samman Nidhi Yojana To All Poor Farmers Including Landless Farmers: Sources