A social security net is a potent weapon against cyclical poverty. Those who find themselves on the edge of poverty, are pushed into it deeper in the absence of such safeguards. In the fight to eliminate poverty Modi government has deployed social security as a tool to empower the poorest of the poor.
During Modi government’s first term, for creating a universal social security system for all Indians, especially the poor and the needy, the government launched three Social Security Schemes in the Insurance and Pension sectors:
· Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) as annual death cover; more than 6.3 crore citizens have enrolled as on October 2019
· Pradhan Mantri Suraksha Bima Yojana (PMSBY) for life and disability cover; more than 16.62 crore citizens have enrolled as on October 2019
· Atal Pension Yojana (APY) for guaranteed minimum monthly pension; more than 1.85 crore citizens have subscribed as on October 2019 securing their life’s second innings.
Pradhan Mantri Vaya Vandana Yojana was launched to protect elderly persons aged 60 years and above against a future fall in their interest income due to the uncertain market conditions, as also to provide social security during old age.
Taking a step further, the Modi government is working with the intention of empowering the most vulnerable sections of the society. It is creating a holistic multi-dimensional social security net.
Health Cover for the Poor
Without a healthy workforce, a nation cannot reach its full potential on the path of development. For decades, quality healthcare was out of reach for the poor sections of the society. Often it would happen that the burden of sickness would push an entire family into poverty. However, with Ayushman Bharat PM Jan Arogya Yojana, good quality healthcare has become accessible to the poor. More than 11 crore cards have been issued by October 2019. More than 57 lakh hospital treatments have been received by people. The health cover has provided a sure-shot security coverage against exigenicies of expensive medical treatments that entraps people in a poverty trap.
Safety Net for Farmers
To provide an assured direct income support at the rate of Rs. 6,000 per year to the small and marginal farmers, the Modi government launched the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). Continuing the efforts for universal social security net, Modi government, after coming back to power for the second time, extended the PM KISAN Yojana to all landholding eligible farmers to benefit over 14.5 crore farmers. The social security net would also meet their emergent needs especially before the harvest season. PM-KISAN would pave the way for the farmers to lead a dignified life.
Securing lives of anna-daatas, Modi government launched pension scheme for farmers - PM Kisan Maan Dhan Yojana – to benefit over 5 crore small and marginal farmers. It provides minimum pension of Rs. 3,000 per month after attaining age of 60 years.
Monthly Pension for Small traders for a Secure Future
To provide minimum monthly pension of Rs. 3,000 to all shopkeepers, retail traders and self-employed persons after attaining 60 years of age, Modi government launched the PM Laghu Vyapari Maan-Dhan Yojana. It will benefit around 3 crore small traders whose GST turnover is below Rs. 1.5 crore.
Empowering the Labour Workforce
The government has reduced rate of contribution under ESIC from 6.5% to 4% for both employees and employers. It will benefit 3.6 crore employees and 12.85 lakh employers.
Modi government, ensuring wage security for those who were outside the ambit of minimum wages, passed the Code on Wages 2019. It ensures statutory protection for minimum wages and timely payment of wages to approximately 50 crore workers of organized as well as unorganized sectors. Thus, it provides legislative protection to many unorganized sector workers like agricultural workers, painters, persons working in restaurants, chowkidars etc.
The Modi government is also ensuring welfare through social security cover for 40 crore unorganised section workers, 6 crore small traders and 14 crore farmers through unique pension schemes.
Thus, social security provided by Modi government is equivalent to a shoulder of support during any financial distress. It upholds human dignity, especially in times of crises, while enabling the society with the retention of a productive and healthy human capital.
