Which government scheme aims to provide social security to workers in the unorganized sector?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Atal Pension Yojana (APY).
Launched in 2015, the Atal Pension Yojana (APY) is a flagship social security scheme specifically targeted at workers in the unorganized sector, such as maids, drivers, and laborers. Administered by PFRDA, it encourages voluntary savings during their working years to guarantee a minimum monthly pension ranging from ₹1,000 to ₹5,000 after reaching the age of 60. This scheme addresses old-age income security and mitigates longevity risks among informal workers.