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The Prime Minister, Shri Narendra Modi, today launched the Pradhan Mantri Sahaj Bijli Har Ghar Yojana, or Saubhagya, at New Delhi. The aim of this scheme is to provide power to all homes. On the occasion of the birth anniversary of Pandit Deendayal Upadhyay, the Prime Minister also dedicated a new ONGC building - the Deendayal Urja Bhawan.  The  Pradhan Mantri Sahaj Bijli Har Ghar Yojana , which would provide power connections to all the estimated four crore households which currently did not have a power connection. The outlay for this scheme would be over Rs. 16000 crore. These connections would be provided free of cost, the Prime Minister said.

Finance Minister Arun Jaitley on Friday launched a new pension scheme for the senior citizens, Pradhan Mantri Vaya Vandana Yojana, PMVVY in New Delhi. The scheme can be purchased offline as well as online through LIC. The scheme ensures annual return of 8.3 per cent per annum payable monthly for 10 years. Finance Minister Arun Jaitley said, banks have to lend at affordable rates while Senior citizens want secure and reasonable on their investment. Benefits : Pension Payment : On survival of the Pensioner during the policy term of 10 years, pension in arrears (at the end of each period as per mode chosen) shall be payable. Death Benefit: On death of the Pensioner during the policy term of 10 years, the Purchase Price shall be refunded to beneficiary. Maturity Benefit: On survival of the pensioner to the end of the policy term of 10 years, Purchase price along with final pension installment shall be payable.