PM Kisan Pension Scheme: Farmers’ contribution to be Rs 100 per month

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  • Farmers will have to contribute 100 rupees per month under the Pradhan Mantri Kisan Pension Yojana that seeks to provide a minimum fixed monthly pension of 3,000 rupees on the attainment of 60 years.
  • The central government will also contribute an equal amount to the pension fund to be managed by the LIC, which will be responsible for the pension payout.
  • The government in its first cabinet meeting had approved a separate pension scheme for farmers with an aim to cover 5 crore beneficiaries in the first three years.
  • Discussing the new scheme with state agriculture ministers Union Agriculture Minister Narendra Singh Tomar urged all states and union territories to roll out the programme at the earliest.
  • The states to start enrolling farmers in the age group of 18-40 years besides taking measures to create awareness about the scheme.
  • All states and UTs to expedite farmers’ enrolment process so they get the benefit under PM-Kisan and requested them to create awareness of the Pension scheme for farmers.
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