Box 1 OASIS (Old Age Social and Income Security) The Ministry of Social Justice and Empowerment, Government of India had commissioned a national Project tilted “OASIS” (Old Age Social and Income Security) in 1999 to examine policy questions connected with old age income security in India and create necessary institutional infrastructure and to make concrete recommendations for actions.
The committee, which submitted its Report in February 1999, was entrusted with the twin task of further improving existing provisions, and, to devise a new pension provision for excluded workers who are not capable of saving even modest amounts and converting this saving into an old age income security provision.