Praising the Atal Pension Yojana (APY) initiated by the government, Union Finance Minister Nirmala Sitharaman announced on Sunday that around 5.26 lakh individuals in Bangalore alone have reaped the benefits of the scheme. Launched eight years ago, APY stands as the government’s flagship social security program.
Addressing an informal gathering organized by the Thinkers Forum, Sitharaman highlighted, “The Atal Pension Yojana has benefitted 5.26 lakh poor people aged 60 and above in Bengaluru, alone. As many as 1.95 lakh houses have been sanctioned for urban and rural pockets within Bangalore, and a total of 1.95 lakh houses have been sanctioned under the PM Awas Yojana. Under the Swachh Bharat Abhiyan, 11 crore or more wholesale toilets have been constructed all over India and 28,075 household toilets have been constructed in Bengaluru.”
Providing further insights, she disclosed that the production-linked scheme has garnered investments amounting to 1.03 lakh crores up to November 2023. “As many as 14 sector production-linked incentive schemes (PLI) have also drawn a lot of private investments in the country, leading to a boost in production and sales. In March 2024, Applied Materials Incorporation India announced the commissioning of an India validation Centre at Pride Materials India, in Bengaluru, which will mark the next step in its journey as a nebula in the semiconductor ecosystem in India.”
“In October 2023, Nokia opened a 6G lab. We know where it is, and we are one of the leading countries in 5G technology. In Bengaluru, a 6 GM lab has been opened by Nokia to accelerate the development of fundamental technology,” added the Finance Minister.
Addressing the issue of GST compensation, Sitharaman assured that Karnataka has received its complete share of GST revenue amounting to Rs 1.06 crore for the period between 2017 and 2022. She emphasized that as of March 2024, no GST compensation is pending for Karnataka.
In a subtle criticism directed at the Congress regarding their skepticism toward the government’s growth projections, Sitharaman remarked, “The rate of growth pre-GST was only 11.68 per cent. Today, as it is reaching 15 per cent, they can’t accept it and say the numbers are exaggerated. I wish to tell the state government that GST is benefiting you. It is beginning to raise your revenues from taxes.”
