PM Modi’s Cabinet launches pension scheme for farmers, traders
On Friday farm minister Narendra Singh Tomar announced that the Union Cabinet has taken the decision to extend Rs 6,000 per year assistance for all farmers, after the meeting. In its first meeting PM Modi’s Cabinet cleared 3 poll promises to farmers and traders. The cabinet also agreed to roll out pension plans for farmers and traders. Information and Broadcasting Minister Prakash Javdekar said that the three decisions demonstrate that the Modi government had started delivering on its promises from day one. He said “It has not even been 24 hours and the first meeting has happened and decisions taken”. Tomar added that the decision to lift the cap on farmers with larger than 2 hectare plots of land demonstrates the commitment of the Modi government to farmers, he said. In PM Modi’s last tenure the government had started the direct cash support programme as part of efforts to placate growers struggling with weak crop prices. Nearly 12.5 crore small and marginal farmers holding land up to 2 hectares were entitled to receive Rs 6,000 in three equal installents. Friday’s decision will imply that the potential list of beneficiaries will go up by 2 crore, to 14.5 crores. Tomar stated that the extension of the Rs 75,000 crore scheme would benefit an additional 2 crore farmers. It will cost the exchequer an additional Rs 12,000 crore. In two more schemes that would also boost rural consumption, the minister said the Cabinet had cleared plans to start contributory pension schemes to cover small and marginal farmers as well as traders above the age of 60. Five crore traders are expected to join the scheme in the next three years, Union Minister Prakash Javadekar. “All shopkeepers and self employed persons as well as retail traders with GST turnover below Rs 1.5 crore and aged between 18-40 years can enrol for the scheme,” an official statement said.
