Pension and Insurance

Economic Affairs

Title

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Indian Economy - Understanding the basics of Indian economic system

Consider the following statements regarding ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’

1) It is available to people between 18-70 years of age with bank accounts.

2) Ministry of Finance is the nodal agency for its implementation.

3) The service tax is exempted on scheme.

Which of the above statements are correct?

1 and 2

2 and 3

1 and 3

1, 2 and 3

1st statement is incorrect because it is available for 18-50 age group people. It has an annual premium of Rs. 330.