Questions

PMVVY (Pradhan Mantri Vaya Vandana Yojana) pension limit extends to March, 2020.
The Union Cabinet, chaired by Prime Minister Narendra Modi approved extending the investment limit from Rs 7.5 lakh to Rs 15 lakh under the Pradhan Mantri Vaya Vandana Yojana (PMVVY).
It also extended the last date for a subscription to the scheme till March 31, 2020. The time limit was earlier supposed to end on May 4, 2018.
The PMVVY is being implemented through Life Insurance Corp (LIC) to provide social security during old age and protect the elderly aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme provides an assured pension based on a guaranteed rate of return of 8 percent per annum for 10 years.

The Prime Minister Narendra Modi has launched the ‘Saubhagya’ (Sahaj Bijli Har Ghar Yojana) scheme to provide subsidy on equipment like transformers, meters, and wires and is expected to cover allrural families after expected electrification of all villages by the end of 2018.Note:The total outlay for the Saubhagya scheme will be Rs 16,320 crore.