The decisions taken by the Union Cabinet on Wednesday were focused on welfare of migrant workers, senior citizens, easier availability of credit and harnessing opportunities in the fisheries sector, Prime Minister Narendra Modi has said.
“During today’s Cabinet meeting, important decisions were taken which are focused on welfare of migrants, senior citizens, easier availability of credit, harnessing opportunities in the fisheries sector,” he wrote on Twitter.
The decisions, he said, will benefit several citizens.
Referring to the Pradhan Mantri Matsya Sampada Yojana, Modi said it will revolutionise the fisheries sector.
“It will invigorate it with latest technology, infrastructure and ensure financial assistance. Our hardworking fishermen will gain immensely,” the Prime Minister pointed out.
“It will also strengthen the efforts towards Atmanirbhar Bharat (a self-reliant India),” he said.
According to the Food Processing Ministry, the Union Cabinet’s decision on scheme for formalisation of micro food processing enterprises will provide a big boost to the self-help groups, cooperatives and micro food businesses and ensure adequate livelihood for rural-urban communities.
The Union Cabinet on Wednesday also extended the Pradhan Mantri Vaya Vandana Yojana (PMVVY), a social security scheme for senior citizens, for three years till March, 2023.
The PMVVY scheme, implemented through the Life Insurance Corporation (LIC), is intended to give an assured minimum pension to senior citizens (60 years and above) based on an assured return on the purchase price/subscription amount.