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THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY
(SHRI HARDEEP SINGH PURI )
(a) to (d): A Statement is laid on the Table of the House.
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STATEMENT REFERRED TO IN REPLY TO PARTS (a) to (d) of LOK SABHA STARRED QUESTION NO. 353 FOR ANSWER ON 17.07.2019
(a) to (d) : The Government has recently approved a new Pension Scheme, Pradhan Mantri Laghu Vyapari Maan Dhan Yojana (PM-LVMY), for the benefit of shopkeepers, retail traders and self-employed persons providing monthly minimum assured pension of ?3000. It is a voluntary and contribution based central sector scheme, for the entry age group of 18-40 years. The contribution under the scheme is payable by the subscriber and the Central Government, in equal share, i.e. 50:50 basis. Any shop keeper, retail-trader and self-employed person registered with GSTN and annual turnover below ?1.5 crore, not an income tax payee and not a member of Employees’ Provident Fund Organization (EPFO)/Employees’ State Insurance Corporation (ESIC)/National Pension System (NPS)/Pradhan Mantri Shram Yogi Maandhan (PM-SYM) are eligible for enrolment. The monthly pension will start after attaining the age of 60 years by a subscriber. The enrolment under PM-LVMY will be after notification in the Gazette of India.
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