The correct answer is: Atal Pension Yojana.
The Atal Pension Yojana (APY) is a government-backed pension scheme that was launched in 2015. The scheme is open to all Indian citizens between the ages of 18 and 40 years. The minimum monthly contribution to the scheme is Rs. 42 per month, and the maximum monthly contribution is Rs. 10,000 per month. The government contributes a matching contribution of 50% of the subscriber’s contribution, up to a maximum of Rs. 500 per month.
The APY is a defined contribution scheme, which means that the pension amount at the time of retirement will depend on the amount of contributions made by the subscriber and the returns earned on the investments. The pension amount is guaranteed by the government, and the subscriber will receive a minimum pension of Rs. 1,000 per month, even if the corpus is not sufficient to generate that amount.
The APY is a voluntary scheme, but it is being promoted by the government as a way to ensure that all Indians have a secure retirement income. The scheme is being implemented by the Pension Fund Regulatory and Development Authority (PFRDA).
The APY has been well-received by the people of Jammu and Kashmir. As of March 2019, there were over 1.5 lakh subscribers to the scheme in the state. However, the state government has been able to spend only a small amount of the money that has been allotted to the scheme. As of March 2019, the state government had spent only Rs. 12.5 crore out of the Rs. 100 crore that had been allotted to the scheme.
The low spending on the APY in Jammu and Kashmir is due to a number of factors. One factor is that the state government has not been able to create awareness about the scheme. Another factor is that the state government has not been able to set up enough bank branches and post offices where people can open APY accounts. Finally, the state government has not been able to appoint enough agents to promote the scheme.
The low spending on the APY in Jammu and Kashmir is a matter of concern. The scheme has the potential to provide a secure retirement income to the people of the state. However, the state government needs to do more to promote the scheme and to ensure that the money that has been allotted to the scheme is spent effectively.
The other options are:
- Beti Bachao Beti Padhao: This scheme is aimed at promoting the education and empowerment of girls. The scheme has been well-received in Jammu and Kashmir, and the state government has been able to spend the money that has been allotted to the scheme effectively.
- Pradhan Mantri Jan Dhan Yojana: This scheme is aimed at providing financial inclusion to the people of India. The scheme has been well-received in Jammu and Kashmir, and the state government has been able to spend the money that has been allotted to the scheme effectively.
- None of the above: This option is not correct. The APY is the only scheme that has been implemented in Jammu and Kashmir that has not been able to spend the money that has been allotted to it effectively.