Who are the main beneficiaries of the PM-Kisan Maandhan Yojana?
Show answer & explanation
Correct answer: C
Explanation
Correct Answer: Marginal Farmers.
Explanation:
- PM-KISAN Maandhan Yojana (PM-KMY): This is a voluntary and contributory pension scheme for small and marginal farmers in India.
- Eligibility: Farmers aged between 18 and 40 years, who own cultivable land up to 2 hectares, are eligible for this scheme.
- Benefits: Upon attaining the age of 60, the beneficiary receives an assured minimum pension of ₹3,000 per month.
- Contribution: The monthly contribution ranges from ₹55 to ₹200, depending on the farmer's age. The Central Government contributes an equal amount.
Key Facts about the Scheme:
- Administrator: It is administered by the Life Insurance Corporation of India (LIC).
- In the Event of Death: If the beneficiary passes away, their spouse is entitled to receive 50% of the pension amount (i.e., ₹1,500) as a family pension.
Important Questions for Upcoming Examinations:
- Question: What is the maximum age limit to join the PM-KISAN Maandhan Yojana?
- Answer: 40 years.
- Question: What is the amount of the monthly pension received after the age of 60?
- Answer: ₹3,000.
- Question: Who is referred to as a 'Marginal Farmer'?
- Answer: Farmers who own less than 1 hectare (2.5 acres) of land.