Consider the following with respect to Atal Pension Yojana,
1. It mainly focused on providing old age security to the unorganized workers who are not covered under any of the social security schemes.
2. Contributions to the Atal Pension Yojana (APY) are eligible for tax benefits similar to the National Pension System (NPS).
3. Any individual aged between 18 years to 40 years and have a bank account are eligible for the scheme.
Select the correct answer using the codes below
This questions was previously asked in
RRB Officer Scale-I Mains (1st Oct 2022)
1 and 3 only
Incorrect Answer2 and 3 only
Incorrect Answer1 and 2 only
Incorrect AnswerAll of the above
Correct AnswerExplanation:
- Statement 1: This is correct. The Atal Pension Yojana (APY) is focused on providing old-age security mainly to unorganized sector workers who are not covered under any existing social security schemes.
- Statement 2: This is correct. Contributions made to APY are eligible for tax benefits, similar to those available to contributors of the National Pension System (NPS), under the Income Tax Act.
- Statement 3: This is correct. Individuals between the ages of 18 and 40 with a bank account are eligible to enroll in the scheme.
- Correct Answer: Option 5: All of the above
![]()
By: Parvesh Mehta