Centre asks states to speed up farmer enrolment under PM-KISAN

New Delhi: Farmers will have to contribute Rs 100 per month under the Pradhan Mantri Kisan Pension Yojana that seeks to provide minimum fixed monthly pension of Rs 3,000 on attainment of 60 years, according to the government.

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, it said.

The Modi 2.0 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, which would cost the exchequer Rs 10,774.5 crore per annum.