Identify the Government of India scheme described as providing old age income security to senior citizens (60 years and above) by offering an assured pension or return linked to the subscription amount, backed by a government guarantee to the Life Insurance Corporation of India (LIC).

Introduction / Context:
This question tests knowledge of social security schemes for senior citizens in India. The description given focuses on a pension scheme that offers an assured return to elderly persons through the Life Insurance Corporation of India, with a government guarantee.

Given Data / Assumptions:

• The scheme targets people aged 60 years and above.
• Its purpose is to provide social security during old age against the risk of falling interest rates.
• The pension or return is linked to the subscription amount and is backed by a government guarantee to the Life Insurance Corporation of India.
• Four schemes are listed as options.

Concept / Approach:
Pradhan Mantri Vaya Vandana Yojana is a pension scheme operated by the Life Insurance Corporation of India. It offers a guaranteed rate of return for a fixed term to senior citizens, thereby protecting them from fluctuations in market interest rates. The other schemes mentioned in the options serve different purposes.

Step-by-Step Solution:
Step 1: Consider the key phrases: old age income security, assured pension or return, government guarantee, and Life Insurance Corporation of India as the implementing agency.Step 2: Pradhan Mantri Swasthya Suraksha Yojana deals with strengthening health infrastructure and not with pensions.Step 3: Liveability Index Programme relates to assessing urban living conditions rather than individual financial support.Step 4: Rashtriya Vayoshri Yojana provides physical aids and assistive devices to senior citizens with disabilities, not guaranteed pension returns.Step 5: Pradhan Mantri Vaya Vandana Yojana, on the other hand, is specifically a pension scheme for senior citizens, implemented by the Life Insurance Corporation of India with guaranteed returns. This matches the description perfectly.

Verification / Alternative check:
Government advertisements and official notifications for Pradhan Mantri Vaya Vandana Yojana clearly mention guaranteed pension payouts to senior citizens and implementation through the Life Insurance Corporation of India, confirming that this is the scheme described.

Why Other Options Are Wrong:
Option A is wrong because Pradhan Mantri Swasthya Suraksha Yojana focuses on health sector infrastructure like AIIMS type institutions.
Option C is wrong because the Liveability Index Programme concerns quality of life in cities, not pensions.
Option D is wrong because Rashtriya Vayoshri Yojana provides assistive devices rather than financial pension benefits.

Common Pitfalls:
Learners may confuse schemes that include the words Pradhan Mantri or that involve senior citizens, but careful reading of the clue about assured pension and the mention of the Life Insurance Corporation of India should direct them to the correct option.

Final Answer:
The scheme described is Pradhan Mantri Vaya Vandana Yojana.