On Atal Pension Yojana, @Jairam_Ramesh known for using verbal sophistry to hide facts, is being malicious or is ignorant of the basic tenets of designing a good pension scheme. Atal Pension Yojana is designed based on best practice choice architecture to automatically continue the premium payment unless the subscriber opts out. This is a deliberate and beneficial feature which is in the best interest of the subscribers. Instead of requiring people to decide each year to continue, they have to take a decision to discontinue. This makes many of them take the right decision and save for their retirement. Richard Thaler (Nobel prize winner in Economics 2017) and Cass Sunstein (a Professor who worked in the Obama administration) are known for their book ‘Nudge’ which explains the need for proper ‘choice architecture’ in designing public schemes. @Jairam_Ramesh calls it a fixed income pension. He has not bothered to check facts. The minimum return under the APY is guaranteed by the GoI to be at least 8%, regardless of prevailing interest rates and returns. This is an attractive guaranteed minimum return. GoI pays a subsidy to PFRDA to make up for any shortfall in actual returns. If higher investment returns are received on the contributions of subscribers of APY, higher pension would be paid to the subscribers: In fact, currently the returns are more than 8%. @Jairam_Ramesh says that people are being “hoodwinked and coerced” into participating! Hoodwinking is what @INCIndia does always— in the name of vote bank politics or minority appeasement. Coercion is what was used to make former Chairman of @TheOfficialSBI Shri RK Talwar resign because he refused to give loans to favourites of the dynasty. As regards the majority of pension accounts being in the lower slabs, for a subsidised scheme intended for the poor and lower middle class, this is obvious. In fact, it shows the proper targeting of the scheme. If the offtake was at the higher end, that would be surprising! The elitist mindset of the dynasty and its minions who are constantly thinking of people in the higher echelons of society, perhaps, blinds them to this obvious truth. The @INCIndia prefers that poor should not have pensions so that they are forced to rely on government hand-outs which keeps them dependant on dynasty politicians. #CongressforDynasty #AntiPoorCongress
On Atal Pension Yojana, @Jairam_Ramesh known for using verbal sophistry to hide facts, is being malicious or is ignorant of the basic tenets of designing a good pension scheme. Atal Pension Yojana is designed based on best practice choice architecture to automatically continue the premium payment unless the subscriber opts out. This is a deliberate and beneficial feature which is in the best interest of the subscribers. Instead of requiring people to decide each year to continue, they have to take a decision to discontinue. This makes many of them take the right decision and save for their retirement. Richard Thaler (Nobel prize winner in Economics 2017) and Cass Sunstein (a Professor who worked in the Obama administration) are known for their book ‘Nudge’ which explains the need for proper ‘choice architecture’ in designing public schemes. @Jairam_Ramesh calls it a fixed income pension. He has not bothered to check facts. The minimum return under the APY is guaranteed by the GoI to be at least 8%, regardless of prevailing interest rates and returns. This is an attractive guaranteed minimum return. GoI pays a subsidy to PFRDA to make up for any shortfall in actual returns. If higher investment returns are received on the contributions of subscribers of APY, higher pension would be paid to the subscribers: In fact, currently the returns are more than 8%. @Jairam_Ramesh says that people are being “hoodwinked and coerced” into participating! Hoodwinking is what @INCIndia does always— in the name of vote bank politics or minority appeasement. Coercion is what was used to make former Chairman of @TheOfficialSBI Shri RK Talwar resign because he refused to give loans to favourites of the dynasty. As regards the majority of pension accounts being in the lower slabs, for a subsidised scheme intended for the poor and lower middle class, this is obvious. In fact, it shows the proper targeting of the scheme. If the offtake was at the higher end, that would be surprising! The elitist mindset of the dynasty and its minions who are constantly thinking of people in the higher echelons of society, perhaps, blinds them to this obvious truth. The @INCIndia prefers that poor should not have pensions so that they are forced to rely on government hand-outs which keeps them dependant on dynasty politicians. #CongressforDynasty #AntiPoorCongress
@narendramodi @AmitShah @nsitharaman 1% of the country's population has 40% of the country's wealth while 50% of the country's population is forced to survive on just 3% of the wealth. Abolish income tax. Just like the flow of water moves from top to bottom, with increased transparency in the economy, the flow of money will also move from the rich to the poor, which will increase the income of the poor.
@narendramodi @AmitShah @nsitharaman देश की 1% जनसंख्या के पास देश का 40% धन है वहीं पर देश की 50% जनसंख्या सिर्फ 3% धन में गुजारा करने पर मजबूर है। इनकम टैक्स खत्म कीजिए। जिस तरह पानी का बहाव ऊपर से नीचे की ओर आता है अर्थव्यवस्था में पारदर्शिता बढ़ने के साथ धन का बहाव भी अमीरों से गरीबों की तरफ अग्रेषित होगा, इससे गरीबों की आमदनी बढ़ेगी।
@nsitharaman @Jairam_Ramesh Dear @nsitharaman ma'am, I have been a @BJP4India supporter & voted for it since I became eligible to vote. I have a question- didn't #ElectoralBonds constitute Quid-Pro-Quo in your opinion? Transparency is the essense of any #Democracy, & the @BJP4India always vouched for it..
@nsitharaman @Jairam_Ramesh Acknowledging the detailed explanation of the Atal Pension Yojana. Mislabeling it as a 'fixed income pension' without verification can lead to misconceptions. Applauding the scheme for its effective targeting of the underprivileged.
@nsitharaman @Jairam_Ramesh Fraudster Modi BJP cannot survive without spreading disinformation.
@nsitharaman @Jairam_Ramesh I faced the same issue and was forcefully open apy account by @BankofIndia_IN and was told that I can close it after 3 months but when I reached out to them after three months they were not helping me with the closure. So I closed my sb account with the bank of india.
@nsitharaman @Jairam_Ramesh @PChidambaram_IN rightly said that the Finance Ministers knowledge on economics can be "written behind a stamp".
@nsitharaman @Jairam_Ramesh Feel well tutored @Jairam_Ramesh?