Numerous programs are being implemented by the federal government for farmers. The administration of several states has established a number of programmes to improve the welfare of farmers, including one that aims to increase farmers' incomes despite the corona pandemic. The farmers are profiting from this.
This programme is similar to a pension plan; when farmers reach the age of 60, they get $3,000 per month in the form of a pension in their bank accounts. Let us inform you that under this programme, you must pay 55 rupees if you open an account at the age of 18 and 200 rupees if you open an account at the age of 40.
Making farmers strong and independent is the primary objective of the central government. They will become independent when there is no support available to them in old age.
A defined pension will be offered as a social safety net to small and marginal farmers, enabling them to live honourably after retirement.
From the age of 60, the government would contribute an equivalent amount, resulting in a total monthly pension for each enrolled farmer of Rs. 200.