Pradhan Mantri Kisan Maandhan Yojana - Know The Basics

The government launched the Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY) for providing social security to the small and marginal farmers when they become old. The PM-KMY provides financial assistance to farmers in their old age when they do not have any means of livelihood and minimal or no savings for taking care of their expenses. The KM-KMY is effective from 9th August 2019.

Benefits Of The Scheme

Under this scheme, a minimum fixed pension of Rs.3,000/- is provided to the small and marginal farmers, subject to certain exclusion criteria, on attaining the age of 60 years. It is a voluntary and contributory pension scheme. The eligible farmer is required to contribute to a Pension Fund between Rs.55 to Rs.200 per month depending on the entry age. The Central Government also contributes an equal amount to the Pension Fund.

Eligibility For The Scheme

• Small and Marginal Farmer (SMF) - a farmer who owns cultivable land upto 2 hectare as per land records of the concerned State/UT.
• Age of 18- 40 years

Farmers Who Are Not Eligible For The Scheme

The following categories of farmers have been brought under the exclusion criteria:

• SMFs covered under any other statuary social security schemes such as National Pension Scheme (NPS), Employees’ State Insurance Corporation scheme, Employees’ Fund Organization Scheme etc.
• Farmers who have opted for Pradhan Mantri Shram Yogi Maan Dhan Yojana (PM-SYM) administered by the Ministry of Labour & Employment
• Farmers who have opted for Pradhan Mantri Laghu Vyapari Man-dhan Yojana (PM-LVM) administered by the Ministry of Labour & Employment
• Further, the following categories of beneficiaries of higher economic status shall not be eligible for benefits under the scheme:
• All Institutional Land holders; and
• Former and present holders of constitutional posts
• Former and present Ministers/ State Ministers and former/present Members of Lok Sabha/ Rajya Sabha/ State Legislative Assemblies/ State Legislative Councils,former and present Mayors of Municipal Corporations, former and present Chairpersons of District Panchayats.
• All serving or retired officers and employees of Central/ State Government Ministries/ Offices/Departments and their field units,Central or State PSEs and Attached offices/ Autonomous Institutions under Government as well as regular employees of the Local Bodies (Excluding Multi Tasking Staff / Class IV/Group D employees)
• All Persons who paid Income Tax in the last assessment year.
• Professionals like Doctors, Engineers, Lawyers, Chartered Accountants, and Architects registered with Professional bodies and carried out their profession by undertaking practice.

Conclusion

The enrollment to the Scheme can be done through self registration online or through the Common Service Centers in various states. The enrollment is free of cost. For enrollment through the Common Service Center. Farmers can visit their nearest Common Service Centers (CSCs)  for registration. The Common Service Centers will charge Rs.30/- per enrolment which will be borne by the Government.

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.