Three flagship social security (Jan Suraksha) schemes of the Narendra Modi government complete eight years on Tuesday. The three schemes are: Pradhan Mantri Suraksha Bima Yojana (PMJJBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMSBY) and Atal Pension Yojana (APY).

Claiming that these schemes have enabled affordable insurance and security to people, the government highlighted their achievements and features. All the three schemes were launched by Prime Minister Narendra Modi on 9 May 2015 from Kolkata.

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The three schemes are dedicated to the welfare of the citizens, recognising the need for securing human life from unforeseen eventualisation and financial uncertainties. In order to ensure that the people from the unorganised section of the country are financially secure, the government launched two insurance schemes —PMJJBY and PMSBY; and also introduced APY to cover the exigencies in old age.

While recalling the vision behind the three Jan Suraksha schemes, Union Finance and Corporate Affairs Minister Nirmala Sitharaman said, “In the year 2014, the National Mission for Financial Inclusion was launched with the primary objective of ensuring that every citizen in India has access to banking facilities, financial literacy, and social security coverage. Building on this initiative, Prime Minister Narendra Modi introduced three Jan Suraksha schemes on 9th May 2015, with the aim of further promoting and advancing financial inclusion in the country.”

She said, “These three social security schemes are devoted to the well-being of citizens, acknowledging the importance of safeguarding human life against unforeseen risks, losses, and financial uncertainties. These schemes aim to provide essential financial services to individuals from underprivileged backgrounds, thereby reducing their financial vulnerability.”

On the PMJJBY scheme, the finance minister said that it has provided crucial support to 6.64 lakh families who have received claims for Rs. 13,290 crore.

Under the PMSBY scheme, she said that more than 1.15 lakh families have received claims for Rs. 2,302 crore. For both PMJJBY and PMSBY schemes, simplification of the claim process has resulted in speedier settlement of claims.

“It is encouraging to see that these schemes are being implemented through a targeted approach to maximise their reach. Under the leadership of our Prime Minister Narendra Modi, our government is steadfastly dedicated to ensuring that the advantages of these social security schemes reach every eligible individual across the nation,” Sitharaman concluded.