With reference to the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana, consider the following statements : 1. The entry age group for enrolment in the scheme is 21 to 40 years. 2. Age specific contribution shall be made by the beneficiary. 3. Each subscriber under the scheme shall receive a minimum pension of ₹ 3,000 per month after attaining the age of 60 years. 4. Family pension is applicable to the spouse and unmarried daughters. Which of the statements given above is/are correct ?
- A.1, 3 and 4
- B.2 and 3 only
- C.2 only
- D.1, 2 and 4
Correct answer
Explanation
The correct answer is B, 2 and 3 only. PM-SYM is a contributory pension scheme for unorganised workers in which the worker's monthly share depends on the age at joining and the Centre matches it. Started in 2019, it is open to workers such as street vendors, rickshaw pullers, domestic workers and construction labourers who earn up to ₹15,000 a month and are not covered by EPF, ESIC or NPS. The worker pays an age-specific amount, from ₹55 a month at age 18 to ₹200 at age 40, so statement 2 is correct. From age 60 the subscriber gets an assured minimum pension of ₹3,000 a month, so statement 3 is correct. Statement 1 is wrong because the entry age is 18 to 40 years, not 21 to 40. Statement 4 is wrong because family pension, half the pension, goes only to the spouse, not to unmarried daughters. Option A is wrong because it includes statements 1 and 4. Option C is wrong because it leaves out statement 3. Option D is wrong because statements 1 and 4 are false. Exam tip: PM-SYM = age 18–40, income up to ₹15,000, ₹3,000 pension at 60, 50:50 matching by the Centre.
Practice Questions
View allThe Fourteenth Finance Commission assigned different weights to the following parameters for distribution of tax proceeds to the States :
1. Income distance
2. Population
3. Demographic changes
4. Area
Arrange the aforesaid parameters in descending order in terms of their weights.
- A.1-2-3-4
- B.1-2-4-3
- C.1-3-2-4
- D.4-3-2-1
Show answer
Income distance had the highest weight, followed by population, area and demographic change. The Fourteenth Finance Commission, chaired by Y.V.
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- B.The market price must be equal to marginal cost.
- C.The market price must be equal to average cost in the long run.
- D.The marginal cost decreases at the equilibrium output.
Show answer
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- B.Third Five-Year Plan
- C.First Five-Year Plan
- D.Second Five-Year Plan
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- A.Foreign Direct Investment
- B.Commercial Borrowing
- C.Invisibles
- D.External Assistance
Show answer
Invisibles are part of the current account of the balance of payments, not the capital account. The balance of payments records all of a country's transactions with the rest of the world and has two main parts.
Read the full explanation →Which one among the following was the focus of the Twelfth Five-Year Plan?
- A.Sustainable and Inclusive Growth
- B.Social Justice and Equality
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- D.Attainment of Self-reliance
Show answer
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