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Modi Govt considers proposal to raise pension limit to Rs.10,000/month for all Indians

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Modi Govt considers proposal to raise pension limit to Rs.10,000/month for all Indians

[vc_row][vc_column][vc_column_text]Modi government is looking into Pension Fund Regulatory Development Authority’s (PFRDA) proposal to double the monthly pension limit to Rs 10,000 from the existing Rs 5,000 under the Atal Pension Yojana (APY).

The proposed hike, if approved, will attract more people towards the scheme and provide better inflation-beating returns.

PFRDA chairman Hemant G Contractor, speaking at the Atal Pension Yojana Annual Conference on Tuesday, said the proposal has been sent to the Finance Ministry with an aim to increase the subscriber base of APY.

“Currently, we have five slabs of pension from Rs.1,000-5000 per month. There have been a lot of feedback from the market asking for higher pension amounts because many people feel that Rs.5,000 at the age of 60 years, 20-30 years from now, will not be sufficient. We have placed this proposal with the government that it should be increased to up to Rs.10,000,” Contractor said.

The PFRDA has sent two more proposals to the Ministry: auto enrolment for APY and raising the maximum age bar to enter the scheme from 40 years to 50 years.

At present, said a report in The Hindu, the age of entering APY is from 18-40 years but an increase in the same by another 10 years — from 18-50 years — will help in expanding the subscriber base, he added.

The subscriber base of APY is 1.02 crore. The PFRDA added about 50 lakh new subscribers under the scheme in 2017-18 and hopes to add another 60-70 lakh in the ongoing financial year, Contractor said.

There is a need to increase the value of pension under APY, Madnesh Kumar Mishra, Joint Secretary, Department of Financial Services (DFS), said at the conference, reported The Hindu.

“We have seen the proposal [sent by PFRDA] of increasing the pension value to [up to] Rs.10,000 per month and it is under our active examination,” Mishra said on the sidelines of the event.

Aimed specifically at the unorganised sector, the APY was introduced in June 2015 and aims to provide sustainable old-age income for more than 80% of India’s workforce. It had recently touched the 10 million subscriber mark, with nearly five million people enrolling for the scheme in 2017-18.

As on 31 March, 10.2 million subscribers have contributed to the scheme with Rs 4,400 crore. Currently the scheme has 60% men and 40% women, said K Mohan Gandhi, general manager, PFRDA.

The APY scheme is aimed specifically at unorganised sector and is in addition to the other pension scheme – the National Pension Scheme (NPS). The NPS, launched in 2004 was initially meant for government employees but was opened up to all Indians in 2009. The maximum age for opening a NPS account in 55 years and there is no upper limit for investing, as per a report in The Financial Express.[/vc_column_text][vc_column_text css=”.vc_custom_1528896119161{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #a2b1bf !important;border-radius: 10px !important;}”]The minimum age to invest in Atal Pension Yojana is 18 years. The maximum stipulated age to enter and contribute to an APY account is 40 years. The PFRDA has proposed to raise the maximum age to 50 years.

APY works on pre-defined contribution slabs which enable an investor to reach his or her fixed pension goal of Rs. 1,000, Rs. 2,000, Rs. 3,000, Rs. 4,000 and Rs. 5,000 at present. The PFRDA has proposed to raise the maximum amount to Rs.10,000. The earlier one starts, the lower is the monthly contribution required to reach the desired pension goal, say financial planners.

APY comes with three modes of payment. These are monthly, quarterly and half-yearly. That means a minimum of two contributions are required every year. An 18-year-old subscriber to APY, for example, is required to pay Rs. 42 per month or Rs. 248 half-yearly for a pension of Rs. 1,000 per month after he or she attains the age of 60 years. – from NDTV[/vc_column_text][/vc_column][/vc_row]

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Priyanka Gandhi and Prashant Kishor held talks in Delhi after Bihar election setback

Priyanka Gandhi Vadra and Prashant Kishor reportedly met in Delhi days after both Congress and Jan Suraaj suffered setbacks in the Bihar Assembly election.

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Priyanka Gandhi

Congress MP Priyanka Gandhi Vadra and Jan Suraaj chief Prashant Kishor met in Delhi last week, days after the Bihar Assembly election delivered a setback to both political outfits, sources said. The meeting reportedly took place at Sonia Gandhi’s 10, Janpath residence and lasted several hours.

While the interaction has triggered political speculation, both leaders have publicly played down any significance. When asked about the meeting, Priyanka Gandhi said there was little interest in who she meets or does not meet. Prashant Kishor, on the other hand, denied that any such meeting had taken place

Bihar rout brings renewed focus on opposition strategy

The reported interaction followed disappointing election outcomes in Bihar. Jan Suraaj contested 238 Assembly seats but failed to secure a single win, while the Congress managed only six victories out of the 61 seats it contested, a drop of 13 seats compared to the previous election

Sources familiar with the developments indicated that the poor showing by both sides has reopened conversations about future political strategy, especially with several major state elections scheduled over the next two years

A relationship marked by past cooperation and friction

Prashant Kishor has previously worked with the Congress, with mixed outcomes. In 2017, he played a key role in the Congress’s victory in Punjab, but the same year saw the party suffer defeat in Uttar Pradesh. The contrasting results led to internal disagreements, with some party leaders later questioning Kishor’s approach and influence

Talks of Kishor formally joining the Congress resurfaced ahead of the 2022 Uttar Pradesh election, with discussions involving senior party leaders. However, those negotiations collapsed amid differences over organisational reforms and decision-making authority. Kishor later described his experience with the party as unsatisfactory and ruled out joining it, citing resistance to structural change

Jan Suraaj’s debut and future calculations

After parting ways with the Congress, Kishor launched Jan Suraaj with the aim of reshaping Bihar’s political discourse. Despite claims that the party shifted focus from caste-based politics to employment issues, its electoral debut failed to translate into votes

Sources suggest that recent defeats across the opposition spectrum have prompted fresh assessments ahead of upcoming elections in Tamil Nadu, West Bengal and Assam in 2026, followed by Uttar Pradesh in 2027. The longer-term focus remains the 2029 Lok Sabha election, where the ruling party is expected to seek another term

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Omar Abdullah distances INDIA bloc from Congress’s vote chori campaign

Omar Abdullah has clarified that the INDIA opposition bloc is not linked to the Congress’s ‘vote chori’ campaign, saying each party is free to set its own agenda.

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Jammu and Kashmir Chief Minister and National Conference leader Omar Abdullah has drawn a clear line between the INDIA opposition bloc and the Congress’s ongoing ‘vote chori’ campaign, stating that the alliance has no role in the issue being raised by the grand old party.

Speaking to the media, Abdullah said every political party within the alliance is free to decide its own priorities. He underlined that the Congress has chosen to focus on alleged irregularities linked to voter lists and electoral processes, while other parties may pursue different agendas.

According to Abdullah, the INDIA bloc as a collective is not associated with the ‘vote chori’ narrative. He added that no party within the alliance should dictate what issues another constituent should raise in public discourse.

The remarks came days after the Congress organised a large rally in the national capital to intensify its campaign. The party has alleged that the Election Commission is working in favour of the BJP to influence electoral outcomes. Both the poll body and the ruling party have rejected these claims.

INDIA bloc cohesion under scrutiny

Abdullah’s comments have gained significance as they follow his recent observation that the INDIA bloc is currently on “life support”. That remark, made during an interaction at a leadership summit in Delhi, triggered mixed reactions from alliance partners.

At the event, Abdullah had said the opposition grouping revives intermittently but struggles to maintain momentum, especially after electoral setbacks. He also pointed to the Bihar political developments, suggesting that decisions taken by the alliance may have contributed to Nitish Kumar returning to the NDA fold. He further cited the inability to accommodate the Hemant Soren-led Jharkhand Mukti Morcha in Bihar seat-sharing talks as a missed opportunity.

Allies respond to Omar Abdullah’s remarks

Reactions from within the INDIA bloc reflected differing views on Abdullah’s assessment. RJD leader Manoj Jha termed the remarks “rushed” and said responsibility for strengthening the alliance lies with all constituents, including Abdullah himself.

CPI general secretary D Raja called for introspection among alliance partners, questioning the lack of coordination despite the stated objective of defeating the BJP and safeguarding democratic values.

Samajwadi Party MP Rajeev Rai disagreed with the “life support” analogy, saying electoral defeats are part of politics and should not demoralise opposition forces. He cautioned that internal pessimism only serves the BJP’s interests.

BJP targets opposition unity

The BJP seized on the comments to attack the opposition bloc’s unity. Senior leader Shahnawaz Hussain dismissed the INDIA alliance as defunct, claiming it lost relevance after the Lok Sabha elections and lacks leadership and a clear policy direction.

Abdullah’s latest clarification on the ‘vote chori’ campaign reinforces the visible differences within the opposition alliance, even as its constituents continue to debate strategy and coordination ahead of future political battles.

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Nitin Nabin terms BJP working president role a party blessing, thanks leadership

BJP national working president Nitin Nabin has termed his appointment a blessing of the party, thanking its leadership and pledging to work on the ideals of his late father.

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Nitin Nabin

Newly appointed BJP national working president Nitin Nabin on Monday described his elevation as a blessing bestowed by the party and expressed gratitude to its top leadership for placing faith in him.

Speaking to reporters in Patna after paying floral tributes to a statue of his late father, former BJP MLA Nabin Kishor Prasad Sinha, the Bihar minister said he would continue to work on the principles he inherited from his family and the organisation.

“I have always worked on the ideas of my father, who treated the party like his mother and put the nation above everything else. I believe that is why the party has given me this responsibility,” Nabin said. He later visited Mahavir Mandir in the city to offer prayers.

Gratitude to Prime Minister, focus on Antyodaya

Thanking Prime Minister Narendra Modi for his guidance, Nabin said development under the current leadership has reached towns and villages across the country. He added that the party has expanded its presence and emerged as a platform representing the poor.

According to Nabin, no section of society has remained untouched by the welfare initiatives of the NDA government. He said the idea of Antyodaya has now reached every corner of India, recalling the contributions of Deendayal Upadhyaya, Syama Prasad Mookerjee and Atal Bihari Vajpayee in shaping the philosophy.

On elections and party organisation

Responding to questions on upcoming elections, including in West Bengal, Nabin said BJP workers remain active at all times. He remarked that unlike other parties, BJP cadres work round the year and remain prepared in every state.

At 45, Nabin is a five-time MLA from the Bankipur assembly constituency and has served twice as a minister in the Bihar government. He comes from an RSS background and is currently part of the Nitish Kumar-led state cabinet.

A generational shift in the party

Nabin’s appointment as national working president on Sunday was seen as a significant organisational move. The position, though not mentioned in the party constitution, has earlier served as a transition role before elevation to the top post.

Prime Minister Modi publicly endorsed the decision, describing Nabin as a hardworking and grounded leader with strong organisational experience. Party leaders have projected the move as part of a generational shift, with Nabin expected to follow a trajectory similar to that of the current national president, who had earlier served as working president before taking charge of the organisation.

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