Which of the following is correct regarding Atal Pension Yojana 1 APY is under Ministry of Labor and...........

Economic Affairs Pension and Insurance

Which of the following is correct regarding Atal Pension Yojana?

(1) APY is under Ministry of Labor and employment

(2) The scheme is a pension scheme for unorganized sector guarantees monthly pension of Rs. 1000 to 5000 per month for subscribers

Choose the correct code:

1 only

2 only

Both 1 and 2

Neither 1 and 2

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Explanation:

The scheme is under Ministry of finance.Government will contribute 50% of subscriber’s contribution

Atal Pension Yojana is a government-backed pension scheme in India, primarily targeted at the unorganised sector. It was mentioned in the 2015 Budget speech by the then Finance Minister Arun Jaitley. It was launched by Prime Minister Narendra Modi on 9 May in Kolkata.