Rs 3000/Month Pension For 5 Crore Small Traders, Shopkeepers; Farmers Will Get Rs 6000/Yr

5 crore small traders will get pension
5 crore small traders will get pension

In their first cabinet meeting of the newly elected PM Modi Govt, two very crucial decisions were taken, which will have long term impact on Indian entrepreneurs, and farmers.

Rs 3000 per month pension has been allocated for small traders, shopkeepers, meanwhile, every farmer in the country will receive Rs 6000 pension, per year.

Keep reading to find out who are eligible for these welfare schemes.

Rs 3000/month Pension Allocated For Small Traders

In the very first Cabinet Meeting of the new Govt., which was headed by PM Modi, it was announced that small traders and shop-keepers will get Rs 3000 per month pension.

This will cover 5 crore+ small traders and shop-keepers in the country.

This pension will be allocated to the small traders and shop-keepers, who are above 60 years of age. As per analysts, this step has been taken as part of the Govt.’s social security measures.

In order to avail this welfare scheme, small traders/entrepreneurs who are aged between 18 and 40 years, can enroll themselves across 3.25 lakh common service centres, spread across the nation.

However, one of the major criteria for getting enrolled is that, the business should have GST turnover of less than Rs 1.5 crore per year. Small traders, shop-keepers, self-employed can register themselves for this social security program.

Confederation of All India Traders has lauded this decision, which was long-pending.

Rs 6000 Per Year Pension For Farmers

In the same Cabinet Meeting, another major decision was taken, which will impact more than 14 crore farmers across India.

PM-KISAN scheme for farmers has now been extended to all farmers, for another 5 years.

Agriculture Minister Narendra Singh Tomar confirmed this, as he said, “The Union Cabinet has approved to extend the ambit of the scheme by including all land holding eligible farmer families under the scheme, subject to the prevalent exclusion criteria,”

This is under Pradhan Mantri Kisan Samman Siddhi (PMKSS), which was announced last year, covering 12.5 crore small and marginal farmers having land less than 2 hectares.

Under the revised scheme, 2 crore more farmers can be included in the scheme, thereby extending the scheme to 14.5 crore farmers, across India. Rs 12,000 crore will be additionally spent, for including 2 crore more farmers.

Pradhan Mantri Kisan Samman Siddhi will cost Rs 87,000 crore to the exchequer.

As of now, under the first installment, 3.11 crore farmers have received the pension, and 2.66 crore farmers received the pension under the second installment.

We will keep you updated, as we receive more updates.

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