Rs 3,443 crore allocated for Indira Gandhi National Old Age Pension Scheme

While presenting the Budget proposals for the year 2008-09 in the Lok Sabha today, the Finance Minister Shri P Chidambaram said that in anticipation of the Unorganized Sector Workers’ Social Security Bill, 2007 being made into law, the Government has introduced three schemes viz Aam Admi Bima Yojana, Rashtriya Swasthya Bima Yojana and Indira Gandhi National Old Age Pension Scheme with an objective to provide social security to workers in the unorganized sector in a phased manner. The Finance Minister proposed to place an additional sum of Rs. 1000 crore with Life Insurance Corporation (LIC) in the year 2008-09 to cover another one crore poor households under the Aam Admi Bima Yojana in the second year. Expressing the happiness, Shri Chidambaram announced that in the first year of Yojana, LIC will cover one crore landless households by 30th September, this year. He further announced that Rashtriya Swasthya Bima Yojana will be implemented with effect from 1st April, 2008. Regarding the Indira Gandhi National Old Age Pension Scheme, which was in large with effect from November 19, 2007 to include all persons over 65 years falling under Below Poverty Line (BPL) category, the Finance Minister proposed to allocate Rs. 3,443 crore in 2008-09 as against Rs. 2,392 crore in 2007-08 because of expansion of coverage from 87 lakh to 157 lakh beneficiary under the scheme.

Source : Press Information Bureau

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