Eight crore families brought under social security schemes: FM

Finance Minister Arun Jaitley on Friday said 7.5 to 8 crore families, out of the total 25 crore households in the country, have been brought under the Centre's social security schemes launched so far.

Ahmedabad: Finance Minister Arun Jaitley on Friday said 7.5 to 8 crore families, out of the total 25 crore households in the country, have been brought under the Centre's social security schemes launched so far.

"In the last 10-12 days, 7.5 to 8 crore families have been covered under the life insurance and accidental insurance schemes initiated by us.

"This country has 25 crore families and out of that 7.5 to 8 crore families have been already linked with these schemes," Jaitley told reporters here.

"Poor people can not be merely helped by distributing resources in a poll year. As there is a practice in developed countries of the world, we want to provide social security to poor people," Jaitley said.

Prime Minister Narendra Modi had recently launched accidental insurance and life insurance schemes in Kolkata to bring poor people in social security net.

"There is no social security in India. Apart from the government servants, we are not a pensioned society. Only 11 percent families are covered under pension schemes," Jaitley said.

"We have given a thrust on National Pension Scheme (NPS), which would be given after 60 years of age. After you, it would be given to other family members, wife or your heir. There would have been tax-exemption," he added.

"Now, under the Atal Pension Yojana, the weaker section of the society, who can only pay premium of Rs 150-250, and if they pay that sum also during their service period... Whoever will be alive -- husband or wife -- will be given pension after 60 years," Jaitley said.

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