February 2, 2019

Claim: In this budget, we have taken due care of around 40-42 crore workers employed in the unorganised sector through the PM Shram Yogi Maan-Dhan Yojana. It will provide them with an assured monthly pension of Rs 3,000 from the age of 60 years on a small monthly contribution.

Fact: Partly true. The scheme is expected to benefit 10 crore (100 million) labourers, the finance minister said in his budget speech.

Link: https://twitter.com/BJP4India/status/1091667391732318209

Explanation: “It is expected that at least 10 crore labourers and workers in the unorganised sector will avail the benefit of ‘Pradhan Mantri Shram-Yogi Maan-Dhan’ within next five years making it one of the largest pension schemes of the world,” interim finance minister Piyush Goyal said in his February 1, 2019 budget speech. This is less than a quarter of the 40-42 crore the PM claimed.

The scheme is expected to provide Rs 3,000 from the age of 60 years based on monthly contributions by beneficiaries. Of 465 million workers in India in 2009-10, 437 million (93%) were in the unorganised sector, IndiaSpend reported in April 12, 2013.