LIC scheme for senior citizens

The Life Insurance Corporation (LIC) will implement a scheme for senior citizens to provide an assured pension with a guaranteed return of 8% per annum for 10 years, Finance Minister Arun Jaitley announced on Wednesday. The minister proposed to provide Aadhaar-based ‘smart cards’ to senior citizens, which will have their health details.

“For senior citizens, Aadhaar-based smart cards containing their health details will be introduced. A beginning will be made through a pilot in 15 districts during 2017-18,” the minister said. Mahila Shakti Kendra will be set up in 14 lakh anganwadi centres under the Integrated Child Development Scheme (ICDS), with an allocation of Rs 500 crore, he said. “These centres will provide one stop convergent support services for empowering rural women with opportunities for skill development, employment, digital literacy, health and nutrition,” he said.

Under the nationwide scheme for financial assistance to pregnant women announced by Prime Minister Narendra Modi on December 31, 2016, Jaitley said, a total of Rs 6,000 each will be transferred directly to the bank accounts of those who undergo institutional delivery and vaccinate their children. “For the welfare of women and children under various schemes across all Union ministries, the allocation has been increased from Rs 1,56,528 crore in budgetary estimates for 2016-17 to Rs 1,84,632 crore in 2017-18,” he added.