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The newly-inducted Union Cabinet, in its first meeting, approved a new scheme which assures minimum monthly pension of ₹3000 per month to small shopkeepers, retail traders and the self-employed people after attaining the age of 60 years. This is being done as part of the Modi government’s efforts to offer universal social security.
“All small shopkeepers and self-employed persons as well as the retail traders with GST turnover below ₹1.5 crore and aged between 18-40 years, can enroll themselves for this scheme,” an official statement said. This enrolment can be done through more than 3.25 lakh common service centres across the country. “The government will make matching contribution in the subscribers’ account,” the statement added.
Hailing this as a landmark step, Praveen Khandelwal, Secretary General, Confederation of All India Traders, said this had been one of the key demands of the trading community.
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