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Atal Pension Yojana has emerged as the most popular social security scheme under the <keyword id="475509" type="General" weightage="20" keywordseo="National-Pension-System" source="Orion">National Pension System</keyword> with over 2.8 crore subscribers, mainly from the non-metro centres. Out of 4.2 crore National Pension System (NPS) subscribers, over 66 percent or 2.8 crore opted for the APY at the end of 2020-21, says the annual report of the <keyword id="1643438" type="General" weightage="20" keywordseo="National-Pension-Systems-Trust" source="Orion">National Pension Systems Trust</keyword> (<keyword id="573064" type="General" weightage="20" keywordseo="NPS-Trust" source="Orion">NPS Trust</keyword>). The <keyword id="51011" type="General" weightage="20" keywordseo="state-government" source="Orion">State Government</keyword> Scheme ranks second with 11 per cent share, while the central autonomous bodies (CAB) continued to account for the least number of subscribers of NPS with a share of 1 per cent, followed by state autonomous bodies (SAB) with a share of 2 per cent. "APY is the most subscribed plan among non-metro subscribers. This also reflects the demographic pattern in the country, where more unorganized population segments reside in the non metros, thus accessing the NPS self-initiated plan," the report said. Total assets under management (AUM) for the National Pension System schemes saw a year-on-year growth of over 38 per cent, and stood at Rs 5.78 lakh crore at the end of the year, the report said, adding as of fiscal 2021, NPS had 4.2 crore registered users or popularly known as subscribers. The National Pension System is a defined contribution retirement savings scheme administered and regulated by <keyword id="137211" type="General" weightage="20" keywordseo="pension-fund-regulatory-and-development-authority" source="Orion">Pension Fund Regulatory and Development Authority</keyword> (PFRDA). APY also dominated in terms of growth rate of the subscriber base, with a gain of 33 per cent on-year in fiscal year ending March 2021, followed by the all-citizen model (32 per cent). The Atal Pension Yojana was launched by the Government of India in May 2015. This scheme is open to all citizens who are in the age group of 18-40 years. Under the scheme, a subscriber would receive a guaranteed pension of Rs 1,000 to Rs 5,000 per month after attaining the age of 60 years, depending upon his contributions. After the death of the subscribers, same pension amount would be paid to his or her spouse. On the demise of both subscriber and spouse, the accumulated pension wealth of the subscriber would be returned to the nominee. Non-metros hade 3.77 crore subscribers or about 89 per cent of the total 4.24 crore NPS subscribers. "Non-metros subscribers have grown by 72.34 lakh in fiscal 2021 (growth of 24 per cent over one-year) compared with metros subscribers which have grown by 4.87 lakh to 35.78 lakh in fiscal 2021 (growth of 16 per cent over one-year)," it said. The report said that age-wise analysis of NPS subscribers show that about 85 per cent were in the 18-40-year age bracket, a jump of 200 basis points (bps) from their share in fiscal 2019-20. Within this young subscriber base, the 18-25-age group represented the largest share at 30 per cent. There were 2.47 crore male subscribers as of end-fiscal 2021, up from 2.02 crore and 1.61 crore, respectively, in fiscals 2020 and 2019. Female subscribers totaled 1.77 crore in fiscal 2021 up from 1.43 crore and 1.12 crore, respectively in fiscals 2020 and 2019. Though the male subscriber continues to dominate the overall subscriber base, female subscriber grew at faster pace at 24 per cent in 2020-21 and 28 per cent in 2019-20 compared to 22 per cent and 25 per cent for males in the respective periods. National Pension System Trust was established by PFRDA as per the provisions of the Indian Trusts Act of 1882 for taking care of the assets and funds under the NPS in the best interest of the subscribers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/icici-lombard-gets-final-approval-to-acquire-bharti-axa/articleshow/85923283.cms">ICICI Lombard gets final approval to acquire Bharti AXA</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/world/news/secret-funeral-plans-for-britains-queen-elizabeth-ii-leaked/articleshow/85919081.cms">Secret funeral plans for Britain's Queen Elizabeth II leaked</a>

Atal Pension Yojana dominates social security scheme with 66% NPS subscriber base

Contributions made to the Atal Pension Yojana (<keyword id="2748077" type="UNKNOWN" weightage="100" keywordseo="APY">APY</keyword>) will now onwards be considered eligible for the same tax benefits as the National Pension System (<keyword id="118491" type="ORGANIZATION" weightage="100" keywordseo="NPS">NPS</keyword>). The regulations has been set by a circular released by the <keyword id="65338" type="ORGANIZATION" weightage="100" keywordseo="Income-Tax-Department">Income Tax department</keyword>. 
 
As per the circular, the tax benefits for contributions to APY would include the additional deduction of Rs 50,000 under section 80CCD(1) introduced in last year's Budget. 
 
Talking of the scheme, APY is open to Indians aged between 18 and 40 years and the minimum tenure is of 20 years. Ever since it was launched in June last year, it has seen nearly 20 lakh subscriptions. 
 
After its release, APY replaced the NPS Lite or Swavalamban scheme, which had received about 45 lakh subscriptions in six years of its release. 
 
However, not everything is in the favour of investors here. The government will contribute 50% of the contribution made by the investor for a period of five years, the benefit of which will only go to subscribers who put in less than Rs 1,000 a year and those who would join the scheme before March 31, 2016. 
 
It also means that investors with taxable income are also not eligible for the benefits. 
 
Amongst the 20 lakh subscribers, small-ticket investors contribute a major part. The AUM of Rs 328 crore is spread across 19.77 lakh accounts, which makes the average balance per account to be only Rs 1,640. In comparison to this, NPS Lite, the scheme that it had replaced which benefited from the market rally since 2010 has about Rs 1,982 crore spread across 44.63 lakh accounts, making the average to be 4,440 per account. 
 
<a href="http://www.telanganastateinfo.com/wp-content/uploads/2015/05/Atal-Pension-Yojana.jpg">Image source</a>

The Govt’s making a big bet on this Pension Scheme and it may just pay off!

India <keyword id="105297" type="General" weightage="20" keywordseo="head-coach" source="Orion">head coach</keyword> <keyword id="19692" type="General" weightage="20" keywordseo="ravi-shastri" source="Orion">Ravi Shastri</keyword> has tested positive for coronavirus and was isolated along with three of his close contacts including team's bowling coach Bharath Arun as a precautionary measure, the <keyword id="6354756" type="General" weightage="20" keywordseo="BCCI" source="Orion">BCCI</keyword> revealed on Sunday. Shastri returned a positive result on a lateral flow test (Rapid Antigen Test) and will stay in isolation till the report of his and others' <keyword id="3649617" type="General" weightage="20" keywordseo="RT-PCR-test" source="Orion">RT-PCR test</keyword> reports come. There is no threat to the ongoing fourth Test against England as all the other playing members have tested negative in two lateral flow tests conducted on Saturday evening and Sunday morning. Fielding coach R Sridhar and head physiotherapist Nitin Patel have also been isolated. "The BCCI Medical Team has isolated Mr Ravi Shastri, Head Coach, Mr B. Arun, Bowling Coach, Mr R. Sridhar, Fielding Coach and Mr Nitin Patel, Physiotherapist as a precautionary measure after Mr Shastri's lateral flow test returned positive last evening," BCCI secretary Jay Shah stated in a release. The team is set to travel to Manchester on Tuesday and if these four test positive in RT-PCR, they will have to undero 10-day room isolation followed by two negative RT-PCR results. "They have undergone RT-PCR testing and shall remain in the team hotel and not travel with Team India until confirmation from the medical team," he further added. "The remaining members of the Team India contingent underwent two Lateral Flow Tests - one last night and another this morning. The members upon returning negative COVID reports were allowed to proceed for Day 4 of the ongoing fourth Test at The Oval." The lateral flow tests always doesn't give accurate results as it is a Rapid Antigen Test (RAT) and it is a form of self test with the kit being provided to each member of the side. The Indian contingent has been carrying out lateral flow tests every single day since Rishabh Pant tested positive for COVID during the three week break. It is understood that Shastri may have got the symptoms after attending his book launch event in the team hotel where outside guests were also allowed. "Since there is no restrictions in the UK, outside guests were allowed during Shastri's book launch party. These people also were his closest contacts, so it has now led to mandatory isolation," a BCCI source said. "You feel for Bharath Arun. This is the second time, that he has to be isolated because someone else had tested positive. Last time it was Dayanand Garani, the masseur, who came in contact with Arun and later tested positive," he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/paralympics-krishna-nagar-bags-gold-medal-in-badminton-sh6-class-for-india/articleshow/85942364.cms">Paralympics: Krishna Nagar bags gold medal in badminton SH6 class for India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/atal-pension-yojna-dominates-social-security-scheme-with-66-nps-subscriber-base/articleshow/85945387.cms">Atal Pension Yojna dominates social security scheme with 66% NPS subscriber base</a>

India cricket coach Ravi Shastri tests COVID positive, placed in isolation

<ul><li>Sundarban honey has high demand for its nutritional value and purity.</li><li>It is, however, called <keyword id="11960433" type="General" weightage="20" keywordseo="Blood-honey" source="Orion">blood honey</keyword> for the risks involved in collection as every year people die venturing into the forests to collect honey.</li><li>There are now multiple local organisations like Bonphool, Dhenki and Sundarini Naturals that are investing in safer procedures to collect honey and growing yearly with the increase in demand.</li></ul><keyword id="1361643" type="General" weightage="20" keywordseo="sukanta-das" source="Orion">Sukanta Das</keyword> is from a family of moulis from the Sundarban delta’s Kultali area in the state of West Bengal, on the eastern coast of India. The lives of people of this community of traditional honey collectors lay, sometimes precariously, entwined with this largest continuous mangrove forests on earth as they venture into the deep, to collect honey. About 60% of the <keyword id="63330" type="General" weightage="20" keywordseo="Sundarbans" source="Orion">Sundarbans</keyword> is in Bangladesh and the rest in West Bengal, India. The Indian Sundarban is spread across 9,629 square kilometres (sq.km.), of which 4,493 sq. km., is inhabited and the rest is categorised as reserve forest. Home to the <keyword id="403619" type="General" weightage="20" keywordseo="Royal-Bengal-tigers" source="Orion">Royal Bengal tigers</keyword>, the risk to life is so high that this honey is also called “blood honey”. And it is nearly twice as expensive as the branded honey. WATCH: What is blood honey and why is it so expensive? <div type="Video" msid="85682316" hostid="261" title="What is blood honey and why is it so expensive?" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=85682316"></div> “In our area, there are many cases of people being attacked by tigers when they go into the forests to collect honey. Some are even killed,” Das says. Though Das has remained in the same business of honey as his family, his job is much safer. Since March 2020, he has been a part of a cooperative, Sundarban Banaraksha Bahumukhi Samabay Samity, that maintains bee boxes in the protected forest area and farms their own honey. This Samity is one of the three self help groups (SHG) started by the <keyword id="780039" type="General" weightage="20" keywordseo="Joint-Forest-Management-Committee" source="Orion">Joint Forest Management Committee</keyword>, a partnership body of the local community and the forest department, to provide the community an alternative livelihood. “We now have multiple camps in the forest [where bee boxes are maintained]. We have placed these boxes in protected areas, which traditional beekeepers maintain as samitys [cooperatives] formed with the help of the forest department. The department helped us get a loan from the West Bengal State Cooperative Bank,” says Pralay Samanta, another member of the cooperative who handles the marketing of the brand of this honey, Bonphool. Nidhiram Naskar, like Das, who used to collect honey from the forests has also joined the community for a safer employment option. But for him, it has also turned out to be more profitable. “Earlier, we used to get anywhere around ₹100-150 [when we sold to buyers]. We used to go in groups of three or four and in the end we would make around three or four thousand rupees (from one trip in the forest). Now we make double the amount per kilogram and overall,” says Naskar. Last year, they produced 34 tonnes of honey and managed to pay ₹10,000 monthly to every person involved. This year, they are planning to scale up. And in between, the demand rose sharply when there was a controversy about big Indian brands <a href="https://timesofindia.indiatimes.com/city/delhi/honeys-bitter-truth-sugar-syrup-that-indian-tests-cant-detect/articleshow/79540565.cms">selling </a>spurious honey in December. “We produced a total [of] 34 tonnes [of] honey. We had two kinds of bottles – one of 490 gram [gm] and one of 250 gm. The 490 gm bottle was priced at ₹300 and the 250 gm bottle was priced at ₹175. We distributed the profits equally among all the beekeepers,” says Samanta. Like Bonphool, Sundarini Naturals is another cooperative organisation that works with the honey collector community. What started with the procurement and selling of two to three tonnes of honey in 2015 has increased now to eight tonnes in 2020. In 2021, the sales target is 10 tonnes. In these years, the number of farmers has also increased from 50 to 214. “Earlier, we used to pay the farmers ₹150 -160. But now we pay them ₹250 per kg at the time of procurement. For such a production of ten tonnes, our cost is over ₹20 lakh. For this, we have taken a loan from the state cooperative bank,” says Sima Das, procurement officer, Sundarini Naturals. But a better payment procedure is still a challenge. “We pay the farmers in their bank [accounts] every ten days and now all of them have accounts. But there is a problem. As these farmers are from deep interiors of the Sundarban area, they find it difficult to collect their money. If there are [more] kiosk-type banks set up in the Sundarban area, then the farmers can collect their money easily,” says Das. There is often a question about higher pricing of this honey. A kilogram of organic Sundarini honey is sold for ₹900 and 490 gm of Bonphool honey is sold at ₹560. Branded honey available in the market is often found at half the price. <div type="image" title="honey comparison" msid="85967681" hostid="261" caption="&amp;lt;p&amp;gt;honey comparison &amp;lt;/p&amp;gt;"></div> But Samanta explains that people are willing to pay to keep their honey pure. “People often ask why Sundarban honey is more expensive. Firstly, one major part of our cost input is going deep into the forest area. This means that there is also nothing like pesticides or chemicals or any other impurities in this. Additionally, the purpose of ventures like this is the financial upkeep of this community too. So, we have to keep our prices a bit high,” he says. But the customers are not just paying for a social cause, explains Debasish Chakraborty, marketing head of Dhenki, an organisation that started during the pandemic last year to help farmers to sell their produce. “Sundarban’s honey is multi-floral. The difference in colour depends on the kind of flowers involved, but normally it is of caramel colour. Some [are] a little red and some a little blackish. It is comparatively less thick. Because this honey is multi-floral and there is practically no use of antibiotics or pesticides in Sundarbans, moreover the bees are also of the wild variety, the taste and nutrition of this honey is very different from others,” he says. Both Samanta and Chakraborty point out that there are plenty of takers of this honey in other parts of India now. Chakraborty sees plenty of opportunity for the brand to grow if the government can project it in the right way. “It would be [a] big boost to the business if the government promotes the distinct qualities of the Sundarban honey,” says Chakraborty. Das wants to reach out to the government for a two-pronged help for the business. For the company, she needs capital and infrastructure help. “We would like to request the government for some working capital to procure (more) honey because it is seasonal. And as a small organisation, this kind of help in the form of some grant can help us a lot as the money needs to be invested for the entire year. We would also need some support to establish a honey processing plant,” says Das. For the collectors, she wants forest permits and smooth insurance schemes. “We would like to request the government for forest permits. Only a few farmers get such permits. If more farmers get permits, they will be benefited. The honey collectors stay in the fringe areas of the forests,” she says. As of now, all three, Sundarini, Dhenki and Bonphool use their websites to sell their honey. Bonphool is also available on ecommerce portals like Amazon. “We use Amazon in a big way. We use Biswa Bangla (West Bengal government’s website) and our own website Sundarban JFMC. Also others like Purulia JFMC,” says Samanta. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-cricket-coach-ravi-shastri-tests-covid-positive-placed-in-isolation/articleshow/85947449.cms">India cricket coach Ravi Shastri tests COVID positive, placed in isolation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/atal-pension-yojna-dominates-social-security-scheme-with-66-nps-subscriber-base/articleshow/85945387.cms">Atal Pension Yojna dominates social security scheme with 66% NPS subscriber base</a>

‘Blood honey’ is a booming business and the rising demand is changing the lives of moulis in Sundarbans

Aiming to provide connectivity in remote areas, Railways will set up Wi-Fi hotspot kiosks at about 500 stations and help people access an array of online services, including various government schemes, as per a PTI news report. 
 
Christened as Railwire Saathi, the Wi-Fi kiosks will function like a PCO for Digital India and enable people to use services like e-commerce, online banking, offer them access to open school/university and insurance schemes, e-ticketing for train and bus services among others. 
Automated form filling, mobile and DTH recharge are other services which the Railwire Saathi is expected to provide in areas with limited connectivity. 
 
The Railwire Saathi aims to provide connectivity to the unconnected and at the same time offer jobs opportunities in rural areas, a senior Railway Ministry official said. 
 
While Railways is equipping about 400 stations with free Wi-Fi service in association with Google, this scheme has dual aim - providing jobs as well as connectivity. 
 
He said the scheme is expected to be operational by May. 
 
The Railwire Saathi is a Wi-Fi entrepreneurship model where unemployed youths, preferably women, can be trained and supported to set up a Wi-Fi hotspot and provide a platform to online services which will make the business sustainable, he said. 
 
RailTel, the telecom arm of railways, would execute the scheme across the country. 
 
Though there are various schemes for minorities, farmers, common man and many avenues for completing education, people in remote areas are generally not aware of them or find it difficult to access them, said the official. 
 
Unemployed youth who wants to be RailWire Saathi would have to contact RailTel for necessary training. 
 
The training course will be approved by National Skill Development Council (NSDC). After being trained by RailTel, the youth will get certificate which can be used to get loan under the Mudra scheme, he said. 
 
Using the loan money, they will install and manage the Wi-Fi hotspots as per design provide by RailTel. 
Railwire Saathi will help in disseminating information about various government schemes like Pradhan Mantri Ujjwal Yojana, Pradhan Mantri Mudra Yojna, Pradhan Mantri Atal Pension Yojna, Pradhan Mantri Jeevan Beema Yojna and Pradhan Mantri Surakhya Beema Yojna among others.

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Atal Pension Yojana dominates social security scheme with 66% NPS subscriber base

PTI

The Govt’s making a big bet on this Pension Scheme and it may just pay off!

BI India Bureau

India cricket coach Ravi Shastri tests COVID positive, placed in isolation

PTI

‘Blood honey’ is a booming business and the rising demand is changing the lives of moulis in Sundarbans

Dipanjan Sinha

Railways to provide free Wi-Fi across 500 more station across India

BI India Bureau

Full text of President Ram Nath Kovind's first address to the Parliament as the 17th Lok Sabha gets underway

BI India Bureau

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