Pension yojana design best; Nirmala Sitharaman rebuts Congress
Updated On: 27 March, 2024 07:35 AM IST | Agencies
Earlier, Congress attacked the government, alleging APY is a very poorly-designed scheme and a paper tiger that needs officials to hoodwink and coerce people into participating in it.
Nirmala Sitharaman
In a strong rebuttal to Congress charges, Finance Minister Nirmala Sitharaman said Atal Pension Yojana (APY) is designed based on the best practice choice architecture and guarantees a minimum of 8 per cent return.
“APY is designed based on best practice choice architecture to automatically continue the premium payment unless the subscriber opts out. This is a deliberate and beneficial feature which is in the best interest of the subscribers,” Sitharaman said in post on X.
Earlier, Congress attacked the government, alleging APY is a very poorly-designed scheme and a paper tiger that needs officials to hoodwink and coerce people into participating in it. Congress leader Jairam Ramesh said the scheme is a “fitting representation of the Modi government’s policy making: headline management, with few benefits actually reaching the people”.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Trending Stories
Latest Web Stories
Latest Photos
17 December, 2025 11:56 AM IST | IN PHOTOS: MLAs at Vidhan Bhavan during Maharashtra Legislative Council polls
Asif Ali Sayed
09 September, 2024 09:32 PM IST | IN PHOTOS: People in Mumbai celebrate Gauri Puja during Ganeshotsav
Asif Ali Sayed
09 September, 2024 09:13 PM IST | IN PHOTOS: Mumbai witnesses sunny weather as rains take a break
Asif Ali Sayed
09 September, 2024 01:53 PM IST | In Photos: Amit Shah attends Ganeshotsav 2024 festivities in Mumbai
Divya Nair
Latest Videos
ADVERTISEMENT
Mid-day Fast
Latest Headlines
06 June, 2026 07:10 PM IST | Bespoke Stories
06 June, 2026 11:51 AM IST | mid-day online correspondent
06 June, 2026 11:42 AM IST | Makepeace Sitlhou