Cabinet approves Rs 3,000 pension scheme for small shopkeepers, retail traders

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  • The newly-inducted Union Cabinet approved a new scheme which assures minimum monthly pension of ₹3,000 per month to small shopkeepers, retail traders and the self-employed people after attaining the age of 60 years.
  • This is being done as part of the Modi government’s efforts to offer universal social security.
  • The scheme will benefit three crore retail traders and shopkeepers.
  • Five crore traders are expected to join the scheme in the next three years.

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