Kisan Pension Scheme: Punjab Farmers May Receive Rs.24000 Pension per year

A new pension scheme may be launched in Punjab for the farmers as a gesture during election season. Farmers over the age of 60 may be eligible for a monthly pension of Rs.2000 from the government.

For this, a survey of elderly farmers has been launched to determine how many farmers are above the age of 60. Following the conclusion of the survey and consideration of the costs, the government can make a decision.

Punjab Chief Minister Charanjit Singh Channi has stated that she wants to see farmers prosper financially. Why should farmers be excluded from benefits such as pensions that are available to other sections of the population? A committee will be formed by the government to provide pensions to elderly farmers. Officials from the Finance Department, the Agriculture Department, Punjab Agricultural University scientists, and leaders of farmer organisations will all be engaged.

This scheme benefits elderly farmers

Devinder Sharma, an agricultural economist, thinks this is a great step forward. Other states should follow suit, so that elderly farmers may gain as well. The Punjab government is working on it, and the farmers who would benefit from it will not have to pay any premiums.

Farmers above the age of 55 in Europe get paid. That is why an initiative like this should be launched in India as well. The pressure on other states to follow Punjab's lead will grow as a result of its implementation.

The Central Government has also implemented a pension scheme for elderly farmers called Pradhan Mantri Kisan Mandhan Yojana (PM Kisan Mandhan Yojana). Farmers must, however, pay a premium of 55 to 200 rupees every month, depending on their age. The central government deposits the same insurance premium. Farmers who reach the age of 60 would get a monthly pension of Rs.3000. Prime Minister Narendra Modi launched it on September 12th, 2019 during a farmer event in Jharkhand. It has so far attracted 21.40 lakh farmers.

Farmers between the age of 18- 40 can apply for this scheme. Farmers who are older than this cannot take the advantage of this scheme.

To get a government pension, a farmer must pay premiums for a minimum of 20 years and a maximum of 42 years. This is why the farmers have did not show interest in the Maandhan scheme. The Maandhan scheme, on the other hand, is managed by the Life Corporation of India.