(As reproduced from Indian Investment
Understanding the sentiments of persons
of Indian Origin to be closer to their original country and to reinforce
their emotional bonds, as well as respecting their desire to participate
in the development of the country of their origin, the Government made
an earnest resolve to frame a special scheme. This resolve was translated
in the first Budget Speech of FM:-
1.Government have decided
to draw up a scheme for issuance of a Persons of Indian Origin (PIO) Card
for those living abroad and having foreign passports. The PIO Card,which
would be extended to Persons of Indian Origin settled in countries to be
specified by Government would besides introducing a visa free regime,also
confer some special economic,educational,financial and cultural benefits.
The details are being worked out.'
2. The Government has today
launched a comprehensive Scheme for the Persons of Indian Origin-called
the 'PIO Card Scheme'. Under this Scheme, Persons of Indian Origin upto
the fourth generation (great grand parents) settled throughout the world,
except for a few specified countries,would be eligible. The Card would
be issued to eligible applicants through the concerned Indian Embassies/High
Commissions/Consulates and for those staying in India on a long term visa,
the concerned Foreigners Regional Registration Officer (Delhi,Mumbai,Calcutta,Chennai)
would do the same.
3. The fee for the card,which
will have a validity of 20 years, would be US $1000.
4. Besides making their journey
back to their roots simpler,easier and smoother,this Scheme entitles the
PIOs to a wide range of economic ,financial ,educational and cultural benefits.
The benefits envisaged under the Scheme include:-
i) No requirement of visa
to visit India:
ii) No requirement to register
with the Foreigners Registration Officer if continuous stay does not exceed
180 days. If continuous stay exceeds 180 days,then registration is required
to be done within a period of 30 days of the expiry of 180 days;
iii) Parity with Non-Resident
Indians in respect of facilities available to the latter in economic, financial,
educational fields etc. These facilities will include:
transfer and disposal of immovable properties in India except of agricultural/plantation
(iv) All future benefits that
would be extended to NRIs would also be available to the PIO Card holders;
(b) Admission of children
in educational institutions in India under the general category quota for
NRIs- including medical/engineering colleges,IITs,IIMs etc.
(c) Various housing schemes
of Life Insurance Corporation of India, State Governments and other Government
(v) However, they shall not
enjoy political rights in India .
The above steps would go a long
way in renewing and strengthening the emotional bond amongst PIOs with
the land of their origin. The attractive features of the Scheme will further
exhort them to play an increasingly constructive role in the socio-economic
and cultural development of the country of their origin.
form | PIO Card Scheme |