Which of the following options best describes the purpose of Pradhan Mantri Shram Yogi Maan Dhan (PM-SYM) scheme, 2019?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Provide pension to unorganised sector workers.
The Pradhan Mantri Shram Yogi Maan Dhan (PM-SYM) scheme, launched in 2019, primarily aims to provide pension to unorganised sector workers. This scheme offers a monthly pension of ₹3,000 after the age of 60 years to eligible workers in the unorganised sector. Beneficiaries need to make a regular contribution until they reach 60 years of age, with the Government of India making an equal matching contribution.
The scheme targets workers like street vendors, rickshaw pullers, agricultural labourers, construction workers, and others in similar occupations who typically lack formal pension coverage. By providing a safety net in their old age, PM-SYM seeks to ensure a basic level of financial security for vulnerable workers in the unorganised sector.