Question

mahatma gandhi pravasi suraksha yojana objectives

Answer 1

The Ministry has introduced a Pension and Life Insurance fund scheme called Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) for the Overseas Indian workers having Emigration Check Required (ECR) passports.

The objective of MGPSY is to encourage and enable the overseas Indian workers by giving government contribution to:

Save for their Return and Resettlement (R&R)Save for their old age,Obtain a Life Insurance cover against natural death during the period of coverage.

The government contribution available under the MGPSY is for a period of five years or till the return of subscribed worker back to India, whichever is earlier.