Universal Social Security System for all Specially the Poor and the Under-Privileged

Shri Jaitley said that there are unclaimed deposits of about Rs. 3,000 crore in the PPF, and approximately Rs. 6,000 crore in the EPF corpus. The Finance Minister proposed the creation of a Senior Citizen Welfare Fund, in the Finance Bill, for appropriation of these amounts to a corpus which will be used to subsidize the premiums of vulnerable groups such as old age pensioners, BPL card-holders, small and marginal farmers and others. Shri Jaitley informed that a detailed scheme would be issued in March.

The Finance Minister further said that special regard needs to be paid to the population of senior citizens in the country which is now approximately 10.5 crore, out of which over one crore are above the age of 80 years. 70% live in rural areas and a large number are in the BPL category. A sizable percentage of them also suffer from age related disabilities. The Finance Minister proposed a new scheme for providing Physical Aids and Assisted Living Devices for senior citizens, living below the poverty line.

Shri Jaitley said that in sum, these social security schemes reflect our commitment to utilize the Jan Dhan platform, to ensure that no Indian citizen will have to worry about illness, accidents, or penury in old age. Being sensitive to the needs of the poor, under-privileged and the disadvantaged, my Government also remains committed to the ongoing welfare schemes for the SCs, STs and Women. Despite serious constraints on Union finances, allocations made this year are as follows:

SC - Rs. 30,851 crore
ST - Rs. 19,980 crore
Women - Rs. 79,258 crore

Source : Equity Bulls

Keywords