Pradhan Mantri Kisan Man Dhan Yojana: The Government has launched Pradhan Mantri Kisan Man Dhan Yojana (PM-KMY) on 12.9.2019 with the aim of providing social security to small and marginal farmers in their old age when they have no means of earning a living and have minimal or no savings to meet their expenses. Life Insurance Corporation (LIC) manages the pension fund. Here are some most awaited questions answered about the Scheme.
Pradhan Mantri Kisan Man Dhan Yojana Eligibility Criteria :
▶ For small and marginal farmers.
▶ Entry age is between 18 and 40 years.
▶ Cultivable land up to 2 hectares as per the land records of the concerned State/UT.
Not eligible for Pradhan Mantri Kisan Man Dhan Yojana :
High-income farmers do not get the benefits of the Pradhan Mantri Kisan Mandhan Yojana.
Any citizen or institutional landowner holding any constitutional position.
A beneficiary under this scheme will not have to file an income tax assessment for the previous year.
Anyone who has paid income tax in the previous assessment year.
Also, farmers associated with professions like architects, chartered accountants, etc. or registered with various professional bodies.
Application Process for PMKMY (PM Kisan Mandhan Yojana) :
Farmers can apply for the Pradhan Mantri Kisan Maandhan Yojana online and offline. To apply online, they can visit the nearest Common Service Centre (CSC), fill out the required forms and submit the required documents.
The online registration process of the Mandhan Yojana ensures that the farmers’ information is recorded and they are issued a pension card. Those who prefer offline registration can visit any nearby CSC or State Agriculture Office, where authorised staff will guide them through the application process. Once approved, farmers can start contributing to the scheme to ensure a secure future.
Documents required to apply for Kisan Maandhan Yojana :
To apply for the Pradhan Mantri Kisan Mandhan Yojana, farmers will have to submit a few required documents. Firstly, they will have to provide their Aadhaar card, which serves as proof of identity. Secondly, they will have to submit a copy of their savings bank account passbook so that contributions and pension payments can be processed smoothly. Thirdly, they will have to provide detailed information about their land ownership to confirm that they own cultivable land up to 2 hectares. Additionally, a passport-sized photograph may be requested from the applicant to fill out the application form. The process is simple, and the required documents are minimal, making it easy for farmers to enrol and benefit from the scheme.
Benefits of Pradhan Mantri Kisan Man Dhan Yojana :
- It provides financial security in old age, ensuring farmers a monthly pension of Rs. 3,000, which can help them meet their basic needs.
- This scheme is very affordable, with monthly contributions starting from 255, depending on the farmer’s age at the time of enrollment.
- This project increases the financial independence of farmers, helping them avoid relying on others after they stop working.
- If a farmer dies before the age of 60, then the spouse will be entitled to contribute to this scheme or receive a reduced pension.
monthly contribution amount under Pradhan Mantri Kisan Man Dhan Yojana :
The monthly contribution under PMKMY depends on the age of the farmer at enrolment. Farmers between the ages of 18 and 40 are required to contribute a small amount every month, starting from a minimum of Rs 55 for 18-year-olds. The older a farmer is at the time of enrolment, the higher their monthly contribution will be, up to a maximum of Rs 200 per month for farmers aged 40 and over.
The government matches the contribution amount, thereby doubling the savings. After reaching the age of 60, farmers will receive a monthly pension of Rs. 3,000. Pradhan Mantri Kisan Mandhan Yojana is a balanced scheme that ensures both purchasing power and financial security.
Contact address :
- Kisan Call Centre Helpline Number:-1800180155.
- PM Kisan Mandhan Yojana Helpline Number: 1800300034681
- PM Kisan Mandhan Yojana Email:[email protected]
- Common Service Centre Helpline Number:-18001213468.
- Common Service Centre Helpdesk Email:[email protected]
Official Website Link: Get Details
Mahatma Gandhi National Rural Employment Guarantee Act
Meta Description :
Within the next five years, at least 100 million people in the unorganised sector are expected to take advantage of this program, making it one of the largest pension plans in the world.
Conclusion :
Pradhan Mantri Kisan Mandhan Yojana (PMKMY) is a significant initiative aimed at providing financial security to small and marginal farmers (SMFs) in India. By ensuring a stable pension after retirement, the PMKMY scheme provides a safety net that can help farmers overcome financial uncertainty.