Lok Sabha Question No. 2498 (UNSTARRED), answered on 2023-12-18
Subject: Funding by the Government to Atal Pension Yojana Scheme
Ministry: FINANCE
Asked by: Nama Nageswara Rao

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES *****

## LOK SABHA UNSTARRED QUESTION NO. 2498

## TO BE ANSWERED ON 18 th  DECEMBER, 2023 (MONDAY)/ AGRAHAYANA 27, 1945 (SAKA) FUNDING BY THE GOVERNMENT TO ATAL PENSION

## YOJANA SCHEME

2498. Shri Nama Nageswara Rao

Will the Minister of Finance be pleased to state:

- (a) whether the Government has been funding to the Atal Pension Yojana scheme;
- (b) 1f so, the details thereof, State/UT-wise for the past five years;
- (c) if not, the reasons therefor;
- (d) whether there  is  any  proposal  to  increase  the  minimum  pension  under  the  scheme  and  to encourage more people to subscribe and benefited under the scheme?

## ANSWER

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (DR. BHAGWAT KARAD)

(a) to (c) Central Government allocates funds to Atal Pension Yojana (APY) under the heads APYGovernment  Co-contribution,  APY-  Payment  of  Incentive  to  Banks  for  fresh  enrolments  and persistent accounts, APY- Promotional Campaign, and APY- Gap Fund for funding support to cover the gap between pension liabilities and pension assets. The details for the past five years are as under.

(Rs. cr.)

| FY      | APY- Govt Co-contribution   |   APY- Payment of Incentive to Banks |   APY-Promotional Campaign | APY- Gap Fund   |
|---------|-----------------------------|--------------------------------------|----------------------------|-----------------|
| 2018-19 | 75.00                       |                                 75   |                       5    | Nil             |
| 2019-20 | 168.14                      |                                166.8 |                       3.75 | Nil             |
| 2020-21 | 101.00                      |                                169   |                       3    | Nil             |
| 2021-22 | Nil                         |                                200   |                       3    | Nil             |
| 2022-23 | Nil                         |                                180   |                       3    | 542.00          |

Government co-contribution was available for a period of 5 years for those eligible subscribers who joined APY between the period 1 st  June, 2015 and 31 st  March, 2016, and who were not members of any statutory social security scheme and who were not income-tax payers.

- (d)  APY  scheme  offers  flexible  minimum  guaranteed  pension  of  Rs.  1000,  Rs.  2000,  Rs.  3000, Rs.4000 or Rs. 5000 per month based on age of joining and pension amount chosen. Accordingly, per month subscription amount presently varies from Rs. 42 to Rs. 1454 on the basis of chosen option. APY scheme offers a minimum guaranteed pension and any increase in pension amount is likely to increase the subscription amount substantially and put further burden on the subscriber. Presently, it has been decided to continue the scheme with same terms and conditions and not to further increase the pension and consequential subscription amount.

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