The notions of social security and social insurance systems have their roots in the evolution of the welfare state concept. In contrast, earlier ‘laissez-faire’ or police states did not prioritize these aspects, focusing solely on maintaining order. It was later that governments began to prioritize social welfare and introduced systems to ensure social security. Members of modern society are ever exposed to certain risks, which are essentially contingencies against which it is not possible for an individual of poor means to provide effectively, either by his own ability or in private combinations with his fellows.

These risks are of sickness, invalidity, maternity, old age and death. Social security refers to the security that society furnishes through appropriate organisations against these risks. In India, where the majority of workers have to live in straitened circumstances, the need for social security plans does not require emphasis. But it is noteworthy that social insurance provides only partial security while a policy of social security aims at a unified approach for the prevention of injury and disease, the achievement of proper redistribution of income and the realization of freedom from all types of want.

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Briefly, social security is one of the fundamental objects of welfare-oriented development planning and social insurance is one of the means by which the objective may be reached. Therefore, social insurance is of great significance as it will encourage labour enthusiasm for augmenting production. India’s social insurance system is a complex and multifaceted framework designed to provide financial protection and security to its citizens, particularly vulnerable sections of society. While the system has undergone significant transformations over the years, it still faces numerous challenges that hinder its effectiveness.

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Some notable social security initiatives in India may be mentioned here as Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) ~ a pension scheme for workers in the unorganized sector; Atal Pension Yojona (APY) ~ a voluntary pension scheme for citizens aged 18-40; National Social Assistance Programme (NSAP) ~ a........

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