11 Years of Public Security Schemes Completed

11 Years of Public Security Schemes Completed

The Government of India’s major social security initiatives — Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and Atal Pension Yojana (APY) — recently completed 11 years of implementation, marking a significant milestone in India’s financial inclusion and social protection framework.

Launched in 2015, these schemes aimed to provide affordable insurance and pension coverage to low-income and unorganised sector populations that were traditionally excluded from formal financial security systems. PMSBY offers accidental death and disability insurance at a very low annual premium, while PMJJBY provides term life insurance coverage. APY focuses on guaranteed pension support for workers in the unorganised sector after retirement.