Question

What is the monthly amount that farmers are required to invest under Pradhan Mantri Kisan Pension Yojana to avail the pension benefit?

• A. Rs.100
• B. Rs.500
• C. Rs.200
• D. Rs.1000

Hint:

PM-KMY requires monthly contributions between Rs. 55 and Rs. 200 (median Rs. 100) to receive an assured pension of Rs. 3,000/month after age 60.

Answer 1

The Correct Option is A

Step 1: Understanding the Concept:
Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY) is an old-age pension scheme for small and marginal farmers (SMFs).

Step 2: Detailed Explanation:
Under PM-KMY, eligible farmers aged between 18 and 40 years make a monthly contribution ranging from Rs. 55 to Rs. 200 (with an average/nominal contribution of Rs. 100 per month for median entry age of 29 years).
The Central Government provides an equal matching contribution to the pension fund, ensuring an assured monthly pension of Rs. 3,000 upon reaching 60 years of age.

Step 3: Final Answer:
Hence, the representative monthly investment amount is Rs.100.