'Will keep watchful eye on PM Modi's security schemes': Gaurav Gogoi

Congress MP Gaurav Gogoi on Saturday said that his party will keep a watchful eye on the three insurance and pension-related schemes being launched in Kolkata by Prime Minister Narendra Modi, and would monitor them being provided to the public.

"Today, the Government of India is going to inaugurate three new schemes- the Atal Pension Yojana Scheme, the Prime Minister Life Insurance Scheme and the Prime Minister's Accident Insurance Scheme. These three schemes, while they have global objectives, we in the opposition hope that the detail of these schemes would come out soon, and in the implementation of these schemes there will be no hiccups," Gogoi said.

"It has been noted that in the last one year many schemes have noble intentions, have grand inauguration ceremonies, but when it comes at the time of implementation, the important schemes receive only budget cuts and they remain on paper," he added.

Gogoi further said that it is the opposition's role to keep a watchful eye on these schemes.

"For example, the Swachh Bharat Yojana Scheme. As our role in the opposition is to carefully watch that the Government of India fulfills its promise to the people of India, we will have a watchful eye on these three new schemes because they are very important. Life insurance, pension and accidental insurance is of need and importance to the people of India. We will ensure that these schemes reach out to the public and do not remain mere promises," he added.

While two insurance schemes - the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) will provide insurance cover in the unfortunate event of death by any cause or disability due to an accident, the Atal Pension Yojana (APY) will address the income and security needs of the aged.

The convenient delivery mechanism of the schemes is expected to address the problem of a very low penetration of life or accident insurance and old age income security products in the country.

The PMSBY will offer a renewable one year accidental death-cum-disability cover of Rs. two lakh to all the savings bank account holders in the age group of 18 to 70 years for a premium of Rs. 12 per annum.