BHUBANESWAR: Trading communities welcomed the announcement made in Union Budget 2019-20 to extend pension benefits to retail traders under Pradhan Mantri Karam Yogi Maan Dhan Yojana.
Shopkeepers and retail traders with an annual turnover of below Rs1.5 crore will receive a guaranteed monthly pension of Rs 3,000 under the scheme after they reach the age of 60 years.
Odisha Byabasayi Mahasangha general secretary Sudhakar Panda said traders are required to produce their 12-digit Aadhaar card number, bank account details and GST number to avail the pension.
“We had demanded pension of Rs 6,000 per month.
But the government has decided to pay Rs 3,000. Since traders aged between 18 to 40 years are eligible for the scheme, nearly 12 lakh traders from the state will be benefited,” Panda said.
He said the pension scheme will help improve enrolment of traders for GST.
Traders have to enrol themselves to avail pension from the government.
“So far, only 50 per cent traders have enrolled themselves because many are misled by tax consultants. We have requested the government to generate awareness among traders so that they can come under the GST fold,” Panda added.