ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Stock Market Outlook: Our dependence on US market limited now, next 10-15 years belong to India, says Anil Singhvi | Here's why
  • Toyota Hyryder Unveiled: Toyota India unveils new self-charging hybrid electric SUV in India; check details
  • Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms
  • Gold Price Today: Yellow metal surges by over Rs 1000 as excise duty hiked to 12.5% - check gold rate in your city
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » India News

Good news for farmers! Social security pension of Rs 3000 per month approved

Tomar said the government has approved a pension scheme for all small and marginal farmers (SMF), subject to certain exclusion clauses, with a view to provide social security net as they have minimal or no savings to provide for old age and to support them in the event of consequent loss of livelihood.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Good news for farmers! Social security pension of Rs 3000 per month approved
Tomar, an amount of Rs 10,774.50 crore is expected for implementation of the scheme upto the Financial Year 2021-22. Image source: IANS

In a bid to provide social security for poor farmers, the government has evolved a new scheme to provide a pension of Rs 3,000 per month to farmers above the age of 60 years, said Agriculture Minister Narendra Singh Tomar, in a written reply to the Rajya Sabha. What other points were made by the minister are given here. 

1. Tomar said the government has approved a pension scheme for all small and marginal farmers (SMF), subject to certain exclusion clauses, with a view to provide social security net as they have minimal or no savings to provide for old age and to support them in the event of consequent loss of livelihood.

2. The minister was quoted as saying, "The scheme provides for payment of a minimum fixed pension of Rs 3,000 per month to eligible farmers on attaining the age of 60 years. It is a voluntary and contributory pension scheme, with entry age of 18 to 40 years. The beneficiary can opt to become member of the Scheme by subscribing to a Pension Fund, managed by the Life Insurance Corporation (LIC)."

3. Citing an example on how the scheme works, the Agriculture Minister said the beneficiary is required to contribute Rs 100 per month in the pension fund at median entry age of 29 years, with matching contribution of Rs 100 by the Central Government.

4. The scheme, he said, provides for utilization of services of Common Service Centres (CSCs e-Governance Services India Ltd) or alternatively the State Nodal Officers of the State/UT Governments under PM-Kisan Scheme for enrollment of farmers.

5. According to Tomar, an amount of Rs 10,774.50 crore is expected for implementation of the scheme upto the Financial Year 2021-22. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Pension schemessocial security schemes
Written By: ZeeBiz WebTeam
Updated: Fri, Jun 21, 2019
05:59 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Rs 1,000 minimum monthly pension for EPFO members inadequate, says Parliamentary panel Rs 1,000 minimum monthly pension for EPFO members inadequate, says Parliamentary panel
e-Shram Registration: Rs 3000 pension assured for workers from unorganised sector under PMSYM scheme - All you need to know e-Shram Registration: Rs 3000 pension assured for workers from unorganised sector under PMSYM scheme - All you need to know
Covid-19 pension benefits: EPF, ESIC subscribers, contractual or casual workers ALERT—check aid announced by Modi Govt Covid-19 pension benefits: EPF, ESIC subscribers, contractual or casual workers ALERT—check aid announced by Modi Govt
Looking to investing in pension schemes? LIC Jeevan Shanti vs National Pension Scheme (NPS) - Find out which is better Looking to investing in pension schemes? LIC Jeevan Shanti vs National Pension Scheme (NPS) - Find out which is better
PFRDA introduces new measures for CPSE employees in National Pension System PFRDA introduces new measures for CPSE employees in National Pension System

LATEST NEWS

PAN-Aadhaar Link: Don't know if your PAN linked with Aadhaar? Check steps here now or else pay double penalty from July 1

Oppo teases Reno 8 series India launch confirmed; likely to release on July 21 - Check details

Toyota Hyryder Unveiled: Toyota India unveils new self-charging hybrid electric SUV in India; check details

Gold jumps Rs 1,088 amid import duty hike

Rupee VS Dollar: Rupee gains 12 paise to close at 78.94 against US dollar

Closing Bell: Nifty, Sensex pare losses to end flat; oil & gas biggest loser, FMCG top gainer

EXCLUSIVE: Start investing in large-cap stocks, Invest in IT, Auto, Capital Goods, and Private Bank stocks says the market expert

Oil India Limited completes beta demo of hydrogen powered bus developed under its Startup programme SNEH

Stock Market Outlook: Our dependence on US market limited now, next 10-15 years belong to India, says Anil Singhvi | Here's why

Monsoon session of Parliament to begin on July 18; to end on August 12

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV