The Union Finance Minister Piyush Goyal announced the Pradhan Mantri Shram Yogi Mandhan scheme in the interim budget 2019 for workers in the unorganised sector.
About the Scheme
The features of the Pradhan Mantri Shram Yogi Mandhan scheme are:
The budget also increased gratuity limit from Rs 10 lakh to Rs 30 lakh from the next fiscal.
The scheme is touted as to become the world’s biggest pension scheme for the unorganised sector in five years. The scheme is designed as a tribute to the workers in the unorganised sector who contribute around 50 per cent of the country’s Gross Domestic Product (GDP).