Objectives of Mahatma Gandhi Pravasi Suraksha Yojana
The objectives of Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) is to encourage and enable overseas Indian workers having Emigration Check Required (ECR) passports going to ECR countries, to (a) save for their return and resettlement, (b) save for their old age and (c) obtain a Life Insurance cover against natural death during the period of coverage.
The scheme envisages a co-contribution of Rs.1000/- by Government to overseas Indian workers who save Rs.4000/- per annum so that on return to India, a MGPSY subscriber can utilise these savings for return and resettlement purposes, and also get benefits on the lines of Swavalamban pension Scheme, for which also Government contributes Rs.1000/- (Rs.2000/- in case of females) for a pension contribution of between Rs.1000/- and Rs.12, 000/- by the subscriber.
This information was given by the Minister of Overseas Indian Affairs, Shri Vayalar Ravi in a written reply in the Rajya Sabha today.
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