If you are reading this, no pradhan mantri yojana issued by this or previous governments is suitable for you! I am baffled as to why so many affluent people are interested in peanut yojanas!
Let us evaluate each of these yojanas in about 10-15 seconds!
Pradhan Mantri Suraksha Bima Yojana
You need an accident cover which is at least 10 times more than your mediclaim cover. This accident policy has a ceiling of 2 lakhs. Enough said. Reject.
Pradhan Mantri Jeevan Jyoti Bima Yojana
You need a life insurance cover that is either 10 -12 times your annual income or a cover that will handle your families immediate and long-term goals. This gives a life cover of 2 lakhs. Enough said. Reject.
Atal Pension Yojana
This is not for those enrolled with EPF or NPS. Thank god!
Sukanya Samriddhi Yojana
A payout of 50% at age and 100% at age 21. This is parents who kill girl children. Parents who fix the girls marriage upon birth. Parents who see the girls marriage as more important than education and as a burden. People who don’t understand risks. People who cannot think beyond EEE. People who are satisfied with a negative real return. Enough said. Reject.
Varishta Pension Bima Yojana
Only for those who wish to take the biggest of risks – not take any risk at all.
Read more: Varishta Pension Bima Yojana – Do Not Buy!
There are many other pradhan mantri yojanas directed at small entrepreneurs, cottage industries, rural development, skill training etc.
You could consider suggesting the scheme to the hired help in your home/society/office. The Sukanya , Varishta and Atal schemes, where people ‘get’ something are easy to sell. Not sure about the others.
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