India has a rich tradition of trade and commerce. Our traders continue to make a strong contribution to India\u2019s economic growth.<\/p>\n
In a decision that will benefit the trading community, the Union Cabinet, chaired by Prime Minister Shri Narendra Modi has approved a new scheme that offers pension coverage to the trading community. This is a part of the Prime Minister\u2019s vision to provide a robust architecture of universal social security.<\/p>\n
How the scheme works:<\/u><\/strong><\/p>\n Under this scheme, all shopkeepers, retail traders and self-employed persons are assured a minimum monthly pension of Rs 3,000 month after attaining the age of 60 years.<\/p>\n All small shopkeepers and self-employed persons as well as the retail traders with GST turnover below Rs 1.5 crore and age between 18-40 years, can enroll for this scheme<\/strong>.\u00a0 The scheme would benefit more than 3 crore small shopkeepers and traders.<\/p>\n The scheme is based on self-declaration as no documents are required except Aadhaar and bank account. Interested persons can enroll themselves through more than 3,25,000 Common Service Centres spread across the country.<\/p>\n The Government of India will make a matching contribution in the subscribers\u2019 account.\u00a0 For example, if a person with age of 29 years contributes Rs 100\/- month, then the Central Government also contributes the equal amount as subsidy into subscriber\u2019s pension account every month.<\/p>\n [Source: PIB]<\/strong><\/p>\n Cabinet<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" India has a rich tradition of trade and commerce. Our traders continue to make a strong contribution to India\u2019s economic growth. In <\/p>\n","protected":false},"author":8808,"featured_media":209514,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29535,4],"tags":[5161,35803],"class_list":["post-215293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet_decisions","category-legislationupdates","tag-pension-scheme","tag-traders"],"yoast_head":"\n
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