APY- The government is going to take a big decision, the benefit will be doubled in this government scheme, know full details

The national central government runs various types of schemes for the weak and economically weak people of its country, which aim to help these people and uplift their lives, one such scheme is the Atal Pension Scheme in which people get a pension after retirement, let's know complete information about this scheme-

Possible increase in Atal Pension Yojana (APY):

There is a lot of hope that the government may propose a substantial increase in the pension limit under the Atal Pension Yojana. Currently, the maximum pension available is Rs 5,000, but reports suggest that it can potentially be doubled to Rs 10,000.

Before the interim budget, there were expectations of an increase in the pension amount. Pension Fund Regulatory and Development Authority (PFRDA) Chairman Deepak Mohanty had earlier advocated increasing the guaranteed pension amount.

Tax benefits:

Launched in 2015, the Atal Pension Yojana offers a pension of up to Rs 5,000. It is available to all Indians between the ages of 18 and 40. Apart from providing a guaranteed pension, the scheme also offers tax benefits under Section 80C of the Income Tax Act, allowing tax savings of up to Rs 1.5 lakh.

Growing popularity: The scheme is gaining popularity, with 6.62 crore accounts opened as of June 20 and 5.3 crore active contributors.