PM Narender Modi administration commences pension program for farmers
The Narender Modi administration on Friday began the PM Kisan Maan Dhan Yojana, a pension plan for poor and marginal farmers of the nation.
The plan is directed at 120 million cultivators who are so-called minimal farmers as they essentially own less than 2 hectares of the homeland.
Under the plan, any qualified farmer between 18-40 years can enroll himself for the pension plan and on the achievement of 20 years, he or she will get a regular monthly allowance of Rs 3000.
As in any insurance or pension goods, periodically premiums will depend on time. The central authority will be a co-contributor and spend one half of the premium content.
“Farmers don’t often have sufficient savings, especially poor cultivators. This scheme is aimed at providing a measure of social security,” agriculture consul Narendra Singh Tomar announced reporters while launching the plan.
Under the system, a farmer who is 18 years, the entry-level period, will have to spend a monthly premium of Rs 55, while a farmer aged 40 will have to spend Rs 200.
The pension capital will be directed by the LIC and farmers can register themselves by visiting their most coming community service hubs, an executive told.