economics medium True/False

The 'Pradhan Mantri Kisan Maan-Dhan Yojana' (PM-KMY) is a contributory pension scheme where the central government bears 100% of the premium cost, requiring no financial contribution from the small and marginal farmers.

  1. True
  2. False

Answer: False

PM-KMY is a co-contributory pension scheme. While the Central Government matches the farmer's contribution to the pension fund, the farmer is still required to make a nominal monthly contribution (ranging from Rs. 55 to Rs. 200 depending on their age of entry) until they reach the age of 60. This shared responsibility ensures active participation and financial discipline among the beneficiaries.

Topic Indian Economy - Agriculture
Exam Relevance UPSC Prelims, SSC CGL, Banking
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