Cabinet Extends Atal Pension Yojana Till 2030-31, Boosts Social Security

• The Union Cabinet, led by PM Narendra Modi, approved the extension of the Atal Pension Yojana (APY) until the financial year 2030-31.
• The extension includes continued government funding for promotional activities, capacity building, and viability gap funding.
• APY aims to provide old-age income security for millions of low-income and unorganized sector workers.
• The scheme, launched in 2015, guarantees a minimum pension of Rs 1,000 to Rs 5,000 per month from age 60.
• With over 8.66 crore subscribers, APY is a key component of India's social security framework, supporting financial inclusion and the vision of Viksit Bharat @2047.

Why It Matters: Atal Pension Yojana extended to 2030-31, ensuring continued old-age income security for unorganized workers.