'10-fold increase in social security cover since 2014': PM Modi

Prime Minister Narendra Modi interacted with beneficiaries of various social security schemes through video conferencing on Narendra Modi (NaMo) app on Wednesday.

Addressing the beneficiaries, PM Modi said that "the number of lives covered under social security schemes has doubled from 5 crore in 2014 to 50 crore in 2018. He also said that number of women having bank accounts have doubled during his tenure, which is an indication of financial empowerment of women in the country.

Modi said, "The social security schemes of Central Government help cope with uncertainties of life. I am very happy that more women have bank accounts. It is important for women to be in the financial mainstream."

Referring to the financial inclusion programme Pradhan Mantri Jan Dhan Yojana, he said the emphasis was on three aspects -- opening the doors of the banks for the poor, or banking the unbanked; access to capital for small business and budding entrepreneurs, or funding the unfunded; and a social security cover for the poor and vulnerable, thus financially securing the unsecured.

About 28 crore new bank accounts have been opened under the Jan Dhan scheme.

"I am particularly happy that more women have bank accounts. It is important for women to be in the financial mainstream," he said. The government is promoting schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana. There are about 1 crore subscribers of the assured minimum pension scheme Atal Pension Yojana.

The government is also promoting Pradhan Mantri Vaya Vandana Yojana for citizens aged 60 years and above. About 3 lakh people have so far benefited from the scheme.