Finance Minister Nirmala Sitharaman defended the Atal Pension Yojana (APY) against Congress general secretary Jairam Ramesh's claims and highlighted its "best practice choice architecture" design.
Finance Minister Nirmala Sitharaman defended the Atal Pension Yojana (APY), stating it is designed based on "best practice choice architecture" and guarantees a minimum return of 8%. She refuted Congress general secretary Jairam Ramesh's claims that the APY is a "very poorly-designed scheme" and that people were "coerced and hoodwinked" by officials to join it. Sitharaman explained the best practice choice architecture design, which encourages subscribers to continue their premium payments by deciding to discontinue instead of annually deciding to continue.
March 26, 2024
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