Prime Minister Narendra Modi on Thursday launched an ambitious pension scheme for farmers from Ranchi While lauding the govt's scheme, PM said, 'this scheme will connect Jharkhand with India & the world.’Under the 'Pradhan Mantri Kisan Mandhan Yojana', farmers between 18 and 40 years of age will get Rs 3,000 monthly pension after reaching 60.The scheme has an outlay of Rs 10,774 crore for the next three years.All small and marginal farmers who are currently between 18 to 40 years can apply for the scheme.PM Modi also inaugurated a multi-modal cargo terminal and laid the foundation of a secretariat building in Ranchi.The cargo terminal, which was inaugurated online by the prime minister from Ranchi, has been built by Inland Waterways Authority of India on River Ganga at Sahibganj.It will have a cargo storing capacity of 30 lakh tonne per year, a stockyard and parking and berthing space for two vessels.'This water terminal in Jharkhand will not only connect the area to the rest of India but also to other countries. After this terminal the tribal brothers and sisters and farmers will be able to send their products to markets in the whole country easily,' PM said.The new secretariat building in the state capital will come up at an estimated cost of Rs 1238.92 crore.It will also have offices of 32 departments. Jharkhand will go to Assembly polls later this year.(With inputs from agencies)