Noida, May 10 (APAC Media): Government-backed Jan Suraksha schemes have delivered financial assistance of more than Rs 25,000 crore over the last 11 years, strengthening the social security net for millions of Indians through affordable insurance and pension programmes.
Introduced in May 2015, the flagship social security programmes — Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) — were designed to extend affordable insurance and pension coverage to economically weaker sections and workers in the unorganised sector.
According to official data, PMJJBY has enrolled over 27 crore subscribers so far and settled claims worth more than Rs 21,500 crore, benefiting over 10 lakh families. PMSBY has crossed 58 crore enrolments and provided accident insurance claim settlements of over Rs 3,600 crore.
The Atal Pension Yojana, designed to provide guaranteed monthly pensions after the age of 60, has also witnessed steady growth with enrolments exceeding 9 crore subscribers.
Finance Minister Nirmala Sitharaman said the schemes have played a major role in deepening financial inclusion and providing social protection at affordable costs.
“Over the past 11 years, Jan Suraksha schemes have emerged as an important pillar of financial security for millions of citizens, especially the poor and vulnerable sections. The government remains committed to expanding affordable insurance and pension coverage across the country,” FM Sitharaman said in a statement.
Minister of State for Finance Pankaj Chaudhary said digital platforms and simplified procedures have helped improve accessibility and speed up claim settlements.
“The integration of technology and banking outreach has enabled wider participation in these schemes, ensuring timely benefits for subscribers and their families,” he said.
Officials said the government is also examining proposals to enhance insurance coverage under PMJJBY in view of rising public participation and growing awareness about social security schemes.
The Jan Suraksha initiatives were launched as part of the government’s broader financial inclusion drive aimed at bringing low-income households into the formal banking and insurance system.
Disclaimer: Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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