Pradhan Mantri Kisan Pension Yojana
Published: June 1, 2019
In a landmark decision, the government has decided to launch a pension scheme for farmers under Pradhan Mantri Kisan Pension Yojana.
About the Scheme
- The scheme aims to provide small and marginal farmers with a minimum fixed pension of Rs 3,000 per month on attaining the age of 60.
- It is a voluntary and contributory pension scheme for small and marginal farmers across the country, with the entry age of 18-40 years.
- The government will match the contribution made by the eligible farmer in the pension fund.
- The spouse of the beneficiary will be entitled to receive 50 per cent of the pension amount, provided he/she is not already a beneficiary of the scheme.
- During the initial phase, the government will cover a minimum of 5 crore small and marginal farmers in the first three years.
- The scheme is expected to cost Rs 10,774.5 crore per annum to the exchequer.
The benefits under PM- KISAN scheme will come handy for the making contribution under the pension scheme for the small and marginal farmers under the Pradhan Mantri Kisan Pension Yojana.
Category: Government Schemes Current Affairs