New Delhi, Jan 21: The Union Cabinet, led by Prime Minister Narendra Modi, has approved the continuation of the Atal Pension Yojana (APY) until the financial year 2030-31, including extended funding for promotional activities and gap funding.
The APY aims to provide old-age income security for low-income and unorganised sector workers, with a guaranteed minimum pension ranging from Rs 1,000 to Rs 5,000 per month starting at age 60.
Since its launch in 2015, over 8.66 crore subscribers have enrolled. Public-sector banks account for the majority of enrolments, with 70.44% participation. The scheme has seen a 24% growth in gross enrolments by FY 23-24 and supports the vision of sustainable social security in India.
