Match List-I with List-II and choose the correct answer using the codes given below the lists :
List-I (Social Security Programme)
A. Pradhan Mantri Shram Yogi Maan-Dhan Yojana
B. Pradhan Mantri Jeeva

Question

Match List-I with List-II and choose the correct answer using the codes given below the lists :
List-I (Social Security Programme)
A. Pradhan Mantri Shram Yogi Maan-Dhan Yojana
B. Pradhan Mantri Jeevan Jyoti Bima Yojana
C. Pradhan Mantri Suraksha Bima Yojana
D. Atal Pension Yojana
List-II (Beneficiary's Contribution)
1. Beneficiary's choice
2. ₹ 55 – ₹ 200 per month
3. ₹ 436 per year
4. ₹ 20 per year
Codes :

UnlockIAS · Accepted Answer

Correct — A, A-2, B-3, C-4, D-1. Each pairing follows from what kind of instrument the scheme is. (A) Pradhan Mantri Shram Yogi Maan-dhan is a contributory pension for unorganised-sector workers, so the worker pays every month, and the amount is graded by the age at which he joins — ₹55 a month for someone entering at 18, rising to ₹200 a month for someone entering at 40, with the Central Government putting in a matching amount and an assured pension of ₹3,000 a month after 60. That is List-II item 2. (B) Pradhan Mantri Jeevan Jyoti Bima Yojana is a one-year renewable term life cover of ₹2 lakh, and its premium is ₹436 a year, item 3. (C) Pradhan Mantri Suraksha Bima Yojana is the accident cover — ₹2 lakh for accidental death or total permanent disability and ₹1 lakh for partial disability — and it is the cheapest of the four at ₹20 a year, item 4. (D) Atal Pension Yojana is the only scheme in the list where no single figure can be printed, because the subscriber first chooses the pension he wants at 60, anywhere from ₹1,000 to ₹5,000 a month, and the contribution is then fixed by that choice together with his entry age. Hence 'beneficiary's choice', item 1. Two figures in this list are recent: the PMJJBY premium was raised from ₹330 to ₹436 and the PMSBY premium from ₹12 to ₹20 with effect from 1 June 2022, and the paper uses the revised figures — a candidate revising from a pre-2022 book would have looked for ₹330 and ₹12 and found neither.

Why the other options are wrong — (b) Gets PM-SYM right and then shuffles the remaining three. It gives Jeevan Jyoti the ₹20 that belongs to Suraksha Bima, hands Suraksha Bima the open-ended 'beneficiary's choice' that belongs to a pension scheme, and prices Atal Pension at a flat ₹436 a year. An insurance premium cannot be a matter of the beneficiary's choice when the sum assured is fixed by the scheme at ₹2 lakh, which is what rules this code out.  (c) The tidy 1-2-3-4 sequence that match-list questions always offer, and it is wrong at the very first pair. It gives Shram Yogi Maan-dhan 'beneficiary's choice' and then attaches the monthly ₹55-₹200 band to Jeevan Jyoti, which is an annual-premium insurance policy, not a monthly-contribution pension. Note the elimination this hands you: item 2 is the only monthly figure in List-II, and PM-SYM is the only monthly-contribution scheme in List-I, so any code that does not read A-2 can be struck out at sight.  (d) Prices the Shram Yogi pension at ₹436 a year — an annual insurance premium attached to a monthly pension contribution — and again puts the monthly ₹55-₹200 band against Jeevan Jyoti. It also makes Suraksha Bima a matter of the beneficiary's choice and Atal Pension a flat ₹20 a year, which would be less than the price of the accident cover for a guaranteed lifelong pension.

Concept: Three of these four schemes are the Jan Suraksha package announced together in the 2015-16 Budget and rolled out in May 2015, operative from 1 June 2015: Pradhan Mantri Jeevan Jyoti Bima Yojana for life cover, Pradhan Mantri Suraksha Bima Yojana for accident cover, and Atal Pension Yojana, regulated by the Pension Fund Regulatory and Development Authority, for an assured old-age pension. The fourth, Pradhan Mantri Shram Yogi Maan-dhan, was announced in the interim Union Budget of 2019-20 and rolled out in 2019 for unorganised-sector workers, and it is the one scheme here in which the government matches the worker's contribution rupee for rupee. Together they form the low-premium, bank-account-linked layer of India's social security architecture, sitting below the contributory EPFO and ESIC systems that cover the organised workforce.

State PCS 2024 Q96 — Economy PYQ with Answer

State PCS 2024 Q96 — Economy PYQ with Answer