Economics • Indian EconomyEasy
What is the primary objective of the 'Atal Pension Yojana (APY)' administered by Pension Fund Regulatory and Development Authority (PFRDA)?
A. To provide guaranteed minimum monthly pensions, particularly targeted at workers in the unorganized sector.✓ Correct Answer
B. To provide high-return equity investments for high-net-worth individuals.
C. To offer tax exemptions on corporate retirement funds.
D. To finance government infrastructure projects through pension contributions.
💡 Solution & Explanation
Atal Pension Yojana is administered by the Pension Fund Regulatory and Development Authority to provide a guaranteed minimum monthly pension, focusing primarily on unorganized sector workers. Unlike corporate retirement funds, it is backed by government co-contributions for eligible subscribers. Subscribers can choose monthly pension slabs ranging from one thousand to five thousand rupees.
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