Which of the following statements is NOT correct for the National Pension Scheme for Retail Traders/Shopkeepers and Self-employed persons?

Question

UnlockIAS · Accepted Answer

Correct — C. Statement (c) is the one that is NOT correct. Under the National Pension Scheme for Retail Traders and Self-employed persons (PM Laghu Vyapari Maandhan Yojana, launched in 2019 by the Ministry of Labour & Employment), a person who is already a member of the National Pension System (NPS), or covered under EPFO or ESIC, or who is an income-tax payer, is specifically EXCLUDED. So an NPS member is NOT eligible — making statement (c) false, which is exactly what the 'NOT correct' question asks for. The other three statements are genuine features of the scheme.

Why the other options are wrong — (a) This is a correct feature of the scheme (entry age 18–40 years), so it is not the 'NOT correct' statement the question wants.  (b) Correct — eligibility requires an annual turnover below Rs 1.5 crore; so this statement is true and hence not the answer.  (d) Correct — the scheme assures a minimum pension of Rs 3,000 per month after the beneficiary turns 60; a true statement, so not the answer.

Concept: The National Pension Scheme for Retail Traders/Shopkeepers & Self-employed (PM Laghu Vyapari Maandhan Yojana, 2019) is a voluntary, contributory pension scheme for small traders. It offers a minimum assured pension of Rs 3,000 a month after age 60, funded 50:50 by the beneficiary and the Government. Eligibility is capped by age (18–40) and business size (annual turnover under Rs 1.5 crore), and it deliberately excludes those already in NPS, EPFO or ESIC, or who pay income tax — because it targets the un-covered informal sector.

State PCS 2020 Q140 — Polity & Governance PYQ with Answer

State PCS 2020 Q140 — Polity & Governance PYQ with Answer