Official Answer Key & Detailed Solution
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Correct Answer: Option (C) — 1 and 3 only
Concept & Option Breakdown
Standard Reference VerifiedStatement 1 is correct: Atal Pension Yojana (APY) provides a guaranteed minimum pension ranging from ₹1,000 to ₹5,000 per month starting at age 60, aimed primarily at workers in the unorganised sector. Statement 2 is incorrect: APY is open to all Indian citizens aged 18 to 40 years; there is no restriction limiting participation to only one member per family. Statement 3 is correct: In case of the subscriber's demise, the same pension amount is guaranteed to the spouse for life, and after the death of both, the accumulated pension corpus is returned to the nominee.
Extreme restrictive qualifier 'Only one member of a family' in Statement 2 is incorrect. Eliminating 2 leaves (a) and (c). Statement 3 describes standard pension spousal benefits.
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