Finance Minister Sitharaman Slams Congress Over Atal Pension Yojana Criticism, Accuses It Of Wanting Poor To Depend On 'Dynasty Politicians'

Reacting to Jairam Ramesh's criticism of the Atal Pension Yojana as a "poorly designed scheme", Union Finance Minister Nirmala Sitharaman strongly rebuked the Congress general secretary.

Sitharaman accused the Congress of preferring that the poor remain without pensions, ensuring their dependence on government handouts and "dynasty politicians", as per a report by NDTV.

The Congress had earlier criticised the Narendra Modi government over the Atal Pension Yojana, calling it a "very poorly-designed scheme" and a "paper tiger" that requires officials to coerce people into participating.

Sitharaman defended the Atal Pension Yojana, stating that it is designed based on best practices and includes features to ensure continued premium payments unless subscribers choose to opt out.

She also highlighted the scheme's guaranteed minimum return of at least 8 per cent, subsidised by the government if necessary.

Addressing Jairam Ramesh's comments, Sitharaman stated, "@Jairam_Ramesh says that people are being 'hoodwinked and coerced' into participating! Hoodwinking is what @INCIndia does always -- in the name of vote bank politics or minority appeasement. Coercion is what was used to make former Chairman of @TheOfficialSBI Shri RK Talwar resign because he refused to give loans to favourites of the dynasty."

Earlier, Ramesh had criticised the scheme, calling it a representation of the Modi government's policy-making that focuses more on headlines than on delivering actual benefits to the people.

The Atal Pension Yojana, launched eight years ago, is the government's flagship social security programme.