Central Government on Friday announced Pradhan Mantri Kisan Pension Yojana. Under this scheme, farmers will receive a pension of Rs 3000 per month. There will be a provision of benefits to farmer's wife in an event of the farmer's death. The government made the announcement of this scheme after very first Cabinet meeting of the new government on Friday. Bharatiya Janata Partry (BJP) had promised such a scheme in its election manifesto.
What is Pradhan Mantri Kisan Pension Yojana?
- This scheme has been launched for all small and marginal farmers. Participation in the pension scheme is voluntary.
- Farmers between the ages 18 and 40 can opt for the pension scheme.
- Under Pradhan Mantri Kisan Pension Yojana, a farmer will get a pension of Rs 3000 per month after the age of 60.
- An 18-year-old farmer will have to contribute Rs 55 per month. Central Government will make an equal contribution.
- In case of beneficiary's death, while receiving pension, his/her spouse will receive 50 per cent of the pension received by the beneficiary. The spouse can only avail of this amount if he/she is not receiving the benefit of the scheme as a primary beneficiary.
- A farmer can opt to make his/her contribution from benefits received from Pradhan Mantri Kisan Samman Nidhi
- In the first three years, Pradhan Mantri Kisan Pension Yojana aims to reach 5 crore farmers across the country.
Several decisions were taken during the very first Cabinet meeting of NDA government 2.0. Click here to know more about these decisions.
PM Narendra Modi and his Cabinet assumed charge of their offices. The new government got into work mode soon after that.
Read | Modi Cabinet 2.0: Amit Shah gets home, Nirmala Sitharaman finance. Check full list
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