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English Release 22-August 2014
Date Month Year
  • President's Secretariat
  • President of India to visit West Bengal on August 23 and 24
  • President calls on council of IITs to draw up a roadmap for governance in line with global practices
  • Vice President's Secretariat
  • Delegation of Gujjar and Bakkarwal Youths from Jammu & Kashmir Calls on Vice President
  • Prime Minister's Office
  • PM condoles the passing away of Shri UR Ananthamurthy
  • Haryana CM calls on PM
  • Shri Saurabh Patel, Minister, Govt of Gujarat, calls on PM
  • Governor of Andhra Pradesh and Telangana calls on PM
  • PM's address at the Conference of Chairmen of Boards of Governors, and Directors of IITs at Rashtrapati Bhawan
  • Min of Agriculture
  • Kharif Sowing Crosses 935.06 Lakh Hectare Mark
  • Ministry of Finance
  • Auction for Sale (Re-Issue) of Government Stocks
  • Min of Health and Family Welfare
  • 589 Passengers Being Tracked for Ebola Virus Disease
  • Min of Home Affairs
  • Home Minister Reviews Uttar Pradesh Flood Situation
  • Min of Information & Broadcasting
  • Government committed to development of North Eastern Region
  • Doordarshan to host ABU-ROBOCON 2014 International Contest at Pune from 22nd-26th August, 2014
  • Min of Micro,Small & Medium Enterprises
  • The Minister of MSME holds interactive Conference with State Industries/ MSME Ministers and Secretaries.
  • Min of Minority Affairs
  • J&K Vichar Manch Delegation Calls on Dr. Najma A. Heptulla
  • 2-Member Bahai Delegation Calls on Dr. Najma A. Heptulla
  • Min of New and Renewable Energy
  • Government Committed to Strengthen Domestic Manufacturing in Solar Sector Says Shri Piyush Goyal
  • Min of Personnel, Public Grievances & Pensions
  • Regarding Civil Services Examination, 2015
  • ACC Appointment
  • Min of Petroleum & Natural Gas
  • Production Performance Oil & Natural Gas Sector for the month of July, 2014
  • Global crude oil price of Indian Basket decreased to US$ 99.97 per bbl on 21.08.2014
  • Ministry of Railways
  • Railway Minister Gives Away Cash Award to Railway Sportspersons for Winning Medals at CWG-2014, Glasgow
  • Min of Science & Technology
  • Government to Increase Funding for Research –Dr.Jitendra Singh
  • Collaborative Research
  • Min of Social Justice & Empowerment
  • States Asked to Speed up Development of SC/OBC/Senior Citizen and Rehabilitation of Drug Addict Says Minister for SJE
  • Ministry of Tourism
  • Union Tourism Ministry simplifies procedure for Hotel classification and re-classification
  • Tourism Ministry delinks Hotel classification from Liquor Service
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on August 21, 2014
  • Ghagra and Rapti Flowing in High Flood Situation

Previous Date

 
Ministry of Overseas Indian Affairs06-December, 2012 17:36 IST
Mahatma Gandhi Pravasi Suraksha Yojana
The Government has launched Mahatma Gandhi Pravasi Suraksha Yojana(MGPSY) on 1st May 2012 on a pilot basis

 

The Government has launched Mahatma Gandhi Pravasi Suraksha Yojana(MGPSY) on 1st May 2012 on a pilot basis. The objective of 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 and (b) save for their pension. They are also provided Life Insurance cover against natural death, during the period of coverage, without any additional payment by them.

            The Government also contributes, for a period of five years, or till the return of workers to India, whichever is earlier, as under:

·     Rs.1,000 per subscriber who saves between Rs.1,000 and Rs.12,000 per annum in their National Pension Scheme(NPS) -Lite account;

·     An additional contribution of Rs.1,000 per annum for overseas Indian women workers who save between Rs.1,000 and Rs.12,000  per annum  in National Pension Scheme(NPS)-Lite account;

·     An annual contribution of Rs. 900 per annum per subscriber who saves at least  Rs. 4000 per annum towards Return and Resettlement fund;

·     Rs.100/- for life insurance cover of Rs.30,000 per year against natural death and Rs.75,000 against death by accident through the Janshree Bima Yojana of Life Insurance Corporation of India (LIC).

There is an integrated enrolment process for the subscribers who will be issued a unique MGPSY account number upon enrolment.  On their return to India, the subscriber can withdraw the Return and Resettlement savings as a lump sum. However, the subscriber would be able to continue savings for their old age in the NPS-Lite in line with the Swavalamban scheme.       Alternatively subscriber can withdraw pension corpus as per the guidelines prescribed by the Pension Fund Regulatory Development Authority(PFRDA).

The details of the scheme were explained to the Indian Ambassadors in ECR countries.

          This information was given by the Minister of Overseas Indian Affairs, Shri Vayalar Ravi in a written reply in the Rajya Sabha today.

****

PKM/DB


(Release ID :90091)

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