Bolstering India’s safety nets and startup ecosystem, the federal Cabinet has unanimously endorsed prolonging the Atal Pension Yojana to 2030-31 and injecting Rs 5,000 crore into SIDBI. These measures, deliberated in a high-level session, target financial inclusion for the underprivileged and credit accessibility for MSMEs.
APY’s decade-long journey since 2015 has shielded unorganized laborers with assured post-60 pensions (Rs 1,000-5,000), amassing 8.66 crore subscribers by 2026. The new approval amps up promotional funding and gap support, ensuring deeper penetration and longevity. It’s a bold stride towards pensionizing society, aligning with Viksit Bharat 2047.
Turning to MSMEs, SIDBI’s equity lifeline—disbursed in three installments starting with Rs 3,000 crore next year—equips it to handle escalating risks from expanded portfolios in digital, unsecured, and startup lending. This capital infusion is projected to elevate assisted MSMEs from 76.26 lakh to 1.02 crore, creating 1.12 crore jobs through 25.74 lakh fresh entrants.
Maintaining CRAR robustness will be key as SIDBI scales ambitions. Collectively, these decisions herald a new era of dual empowerment: retirement dignity for crores and entrepreneurial vigor for the economy’s engine. As implementation unfolds, expect ripple effects in employment, savings, and growth metrics.