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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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Harivansh set to be elected Rajya Sabha Deputy Chairperson unopposed

Harivansh is set to be elected unopposed as Rajya Sabha Deputy Chairman after no opposition nominations were filed before the deadline.

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Former Rajya Sabha Deputy Chairman Harivansh is set to be re-elected to the same post unopposed in the election due to be held later today.
The date has been fixed by the Chairman under the relevant rules governing the conduct of business in the Upper House.
According to sources, the deadline for submitting motions for the election was 12 noon on April 16. A total of five notices were received within the stipulated time, all proposing Harivansh for the post.

Multiple nominations, single candidate
The motions were submitted by members across parties, including Jagat Prakash Nadda, Nitin Nabin, Nirmala Sitharaman, Sanjay Kumar Jha, and Jayant Chaudhary, each backed by seconding members.
All five motions explicitly state that Harivansh be chosen as the Deputy Chairman of the Rajya Sabha.

No opposition nomination filed

Notably, no motion was submitted by the Opposition before the deadline. This effectively clears the path for a unanimous election, as there is no contest for the position.
As per parliamentary procedure, motions will be taken up one by one. Once any one motion is adopted by the House, the remaining motions will not be put to vote.

Likely to be elected by voice vote
In line with established practice, the first motion — expected to be moved by Nadda — may be adopted through a voice vote. Following this, the Chairman will formally declare Harivansh as elected Deputy Chairman.
After the declaration, Harivansh will be escorted to the Chair by members from both the Treasury and Opposition benches, adhering to parliamentary convention.

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Amit Shah counters delimitation concerns, says southern states to gain Lok Sabha seats

Amit Shah assures Parliament that southern states will gain Lok Sabha seats after delimitation, countering opposition criticism during the women’s reservation debate.

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Amit Shah

Union Home Minister Amit Shah on Thursday addressed concerns over the proposed delimitation exercise, asserting in the Lok Sabha that southern states will not lose representation but instead see an increase in their number of seats.

His remarks came during a heated debate linked to the implementation of women’s reservation, where opposition parties have raised fears that population-based delimitation could reduce the political weight of southern states.

Shah rejected these claims, calling them misleading, and said the proposed framework ensures fairness while expanding the overall strength of the Lok Sabha.

Seat count to rise with expansion of Lok Sabha

The government has indicated that the total number of Lok Sabha seats could increase significantly as part of the delimitation process. In this expanded House, the combined representation of southern states is expected to rise from 129 seats at present to around 195 seats.

Shah emphasised that no state will lose seats in absolute terms, and the exercise is designed to reflect population changes while maintaining balance across regions.

State-wise projections shared in Parliament

During his address, Shah also provided indicative figures for individual southern states, suggesting notable increases in representation. According to the projections:

  • Tamil Nadu could see its seats rise substantially
  • Kerala, Telangana, and Andhra Pradesh are also expected to gain additional seats
  • Karnataka’s representation may increase as well

These figures were presented to counter the argument that delimitation would disproportionately favour northern states.

Political debate intensifies over linkage with women’s quota

The delimitation exercise has been closely linked to the rollout of women’s reservation, which proposes one-third seats for women in Parliament and state assemblies.

Opposition leaders have questioned this linkage, arguing that tying reservation to delimitation could delay its implementation and raise federal concerns. Some leaders have also warned that the move could impact national unity if apprehensions among states are not addressed.

The government, however, maintains that the reforms are necessary to ensure equitable representation and to align the electoral system with demographic realities.

Centre dismisses ‘false narrative’ on southern states

Shah reiterated that concerns about southern states losing influence are unfounded. He said the delimitation process will increase representation across regions and described the criticism as a “false narrative” aimed at creating confusion.

The issue is expected to remain a key flashpoint as Parliament continues discussions on the women’s reservation framework and related legislative changes.

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PM Modi assures no discrimination in women’s quota, delimitation debate intensifies in Parliament

PM Narendra Modi has assured that women’s reservation will be implemented without discrimination, amid a heated debate over delimitation in Parliament.

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PM modi

Prime Minister Narendra Modi has assured that there will be no discrimination in the implementation of women’s reservation, as Parliament witnessed a sharp debate over the proposed linkage between the quota and delimitation exercise.

During the ongoing special session, the government reiterated its commitment to ensuring fair representation while addressing concerns raised by opposition parties regarding the timing and structure of the legislation.

The proposed framework aims to reserve 33 percent of seats for women in the Lok Sabha and state assemblies. However, its implementation is tied to a fresh delimitation exercise, which is expected after the next census.

Opposition questions timing and intent

Opposition leaders have raised concerns that linking the women’s quota to delimitation could delay its implementation. They argue that the process of redrawing constituencies may push the actual rollout further into the future.

The issue has triggered a broader political confrontation, with multiple parties questioning whether the move could alter representation across states.

Some critics have also alleged that the delimitation exercise could disproportionately benefit certain regions based on population, a charge the government has rejected.

Government reiterates commitment to fair implementation

Responding to these concerns, the Centre has maintained that the reforms are necessary to ensure accurate and updated representation based on population data.

Leaders from the ruling side have repeatedly emphasized that the process will be carried out transparently and without bias. The assurance that there will be “no discrimination” is aimed at addressing fears among states and opposition parties.

The debate marks a key moment in Parliament, with both sides engaging in intense exchanges over one of the most significant electoral reforms in recent years.

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