PM Modi launches Swavalamban Yojana, says neo-middle class should be helped to grow

Ahmedabad: Advocating for women empowerment, Prime Minister Narendra Modi on Wednesday said that the spirit of entrepreneurship among women is admirable.

On the occasion of launch of 'Swavalamban Yojana', PM Modi began his speech on a lighter note, asking 'Kem Cho' (How are you?). To this, the crowd responded with a great cheer.

The Prime Minister, who is in Gujarat to host Chinese President Xi Jinping, opined that neo-middle class should be helped to grow.

“Gujarat CM Anandiben Patel said something very right about the neo-middle class that we need to help this section of society the most.”

The Prime Minister asserted that all citizens should live a dignified life. “If the poor cannot be accorded dignity, the country cannot progress, the PM said.

Addressing people on Vishwakarma Puja Diwas, Modi launched the 'Swavalamban Yojana' and congratulated the Gujaratis for their efforts.

Showering his praise and affection towards the people of Gujarat, PM Modi said, “I keep receiving your blessings and wishes on all 365 days. I am really grateful to you. It inspires me to do new things.”

'Swavalamban Yojana' is the new pension scheme launched by the government. The scheme is applicable to all citizens belonging to 18-55 age group, who join the New Pension System (NPS) administered by the Pension Fund Regulatory and Development Authority (PFRDA).

Under the scheme, the government will contribute Rs 1,000 per year to each NPS account opened in the year 2010-11 and for the next three years, that is, 2011-12, 2012-13 and 2013-14. The benefit will be available only to persons who join the NPS with a minimum contribution of Rs 1,000 and maximum contribution of Rs 12,000 per annum.