The government today approved the continuation of Atal Pension Yojana till the year 2030-31, along with the extension of funding support for promotional and developmental activities. The scheme was launched in May 2015 with the objective of providing old-age income security to workers in the unorganised sector. The decision was taken during a cabinet meeting held under the chairmanship of Prime Minister Narendra Modi in New Delhi today.
The scheme offers a guaranteed minimum pension, ranging from one thousand to five thousand rupees per month after attaining the age of 60, depending on the subscriber’s contribution. Over eight crore 66 lakh subscribers have been enrolled so far under the scheme, making it a cornerstone of the country’s inclusive social security framework.
The government has also approved an equity support of five thousand crore rupees to the Small Industries Development Bank of India (SIDBI). The decision was taken during a cabinet meeting chaired by Prime Minister Narendra Modi today. This move is expected to benefit over 25 lakh 74 thousand new MSME beneficiaries.
Following the equity capital infusion of five thousand crore rupees, the number of MSMEs receiving financial assistance is expected to increase from over 76 lakh rupees at the end of the financial year 2025-26 to more than one crore by the end of the financial year 2028. Employment generation is also projected to increase by one crore 12 lakh till the end of the financial year 2027-28.
The equity capital will be infused into SIDBI by the Department of Financial Services in three tranches. The first tranche of three thousand crore rupees will be infused in this financial year. Subsequently, one thousand crore rupees each in the next financial year and the financial year 2027-28 will be infused.
