Cabinet Committee(Defence) on June 14th approved the scheme.. which aims to reduce the burden of wages, pensions and infuse more young blood into the army. Defense Minister Rajnath Singh described it as a wonderful scheme to enable patriotic and inspired youth to do national service. also he said that the national defense would be further strengthened. "After four years of service, agniveers will return to a highly disciplined, dedicated and talented youth community. they Become a priceless asset to the country. There are two types of benefits" said Defence Minister Rajnath Singh.
Agnipath: 10% reservation for Agniveers in CAPFs and Assam Rifles
What is the financial package offered to Agniveers?
Composite Annual Package
- Ist year package approx. Rs. 4.76 Lacs.
- Upgradation upto approx. Rs. 6.92 Lacs in 4th year.
Allowances
- Risk & Hardship, Ration, Dress, Travel allowances as applicable.
SevaNidhi
- 30% of monthly emoluments to be contributed by individuals.
- Equal amount matched & contributed by the Government.
- Corpus of Rs.10.04 Lakhs plus accrued interest, exempted from Income Tax, after four years.
Death Compensation
- Non-contributory life insurance cover of Rs. 48 Lakhs.
- Additional Ex Gratia of Rs. 44 Lakhs for death attributable to service.
- Pay for unserved portion upto four years including ‘SevaNidhi’ component.
Disability Compensation
- Compensation based on % disability laid down by medical authorities.
- Onetime ex-gratia of Rs.44/25/15 Lakhs for 100%/75%/50% disability respectively.
Also Read: All About Aginipath Scheme
Also Read: 10 Lakh Govt. Jobs to be filled in 18 months: PM Modi
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