Modi 2.0 cabinet meet: Agriculture Minister announces Rs 10,774 cr pension scheme for farmers

In its maiden meeting, the Modi 2.0 cabinet took three major decision today in New Delhi, which includes the inclusion of all farmers under the ambit of PM Kisan Samman Yojna. Earlier, around 12 crore farmers were listed for Rs 6,000 annual pension while from now the number has grown up to 15 crore beneficiaries. It should be noted that before the Lok Sabha Elections 2019 the BJP has announced in its manifesto that it would give Rs 6,000 annual pension to the farmers which it fulfilled in its very first cabinet meeting.

Source: Zee Business TV

The announcement of the decision was done by the Union Agriculture Minister Narendra Singh Tomar in a press conference in New Delhi after the first cabinet meeting of the Modi 2.0 government. In his press brief, Tomar re-iterated about the commitment of the Modi government to double the income of Indian farmers by 2022. Tomar further announced that in the scheme government had to spend Rs 75,000 crore while the fund allocation is now being increased by Rs 12,000 crore to Rs 87,000 crore.

As per the government scheme of Kisan Pension Yojna, around 5 crore marginal farmers in the age group of 18-40 years would get this benefit. After attaining 60 years of age, farmers will be eligible for Rs 3,000 pension provided they have deposited Rs 100 per month under the scheme. The Modi government has allocated Rs 10,000 crore for the scheme.