Pradhan Mantri Kisan Maan Dhan Yojana:The Pradhan Mantri Kisan Maan Dhan Yojana, a pension scheme launched by the Indian Government, plays a crucial role in supporting small and marginal farmers with landholdings. Known as PM-KMY or PM Kisan Pension Yojana, this initiative is design to provide a financial safety net for farmers during their old age. It operates on a contributory and voluntary basis, targeting individuals aged between 18 to 40 years old and encouraging them to plan for their future financial security through pension benefits.By extending a helping hand to those who have dedicated their lives to agriculture, the PM-KMY not only ensures economic stability for farmers but also recognizes and appreciates their invaluable contributions to the agricultural sector of the nation.
Pradhan Mantri Kisan Maan Dhan Yojana
The Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY) is a significant initiative aime at benefiting small and marginal farmers by ensuring their financial security in their later years. This scheme guarantees a fixed monthly income of Rs 3000 for farmers once they turn 60, offering them a sense of stability and support post-retirement. Upon maturity, eligible individuals are entitled to receive a monthly pension of Rs 3000, providing them with a reliable source of income during their golden years.In the unfortunate event of the farmer’s passing, the spouse can avail themselves of this scheme and receive 50% of the designate income.
Pradhan Mantri Kisan Maan Dhan Yojana Key Info
| Name of the scheme | Pradhan Mantri Kisan Maan Dhan Yojana |
| Category | Sarkari Yojana |
| Official website | Click Here |
What is PM-KMY Scheme?
The Pradhan Mantri Kisan Maan Dhan Yojana is a government-launch scheme aime at supporting marginal and small category farmers. Established in 2019, this initiative plays a crucial role in alleviating economic stress among farmers and catering to their financial requirements. Eligible farmers receive Rs 3000 per month through this program, providing them with a steady income source.
Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Kisan Maan Dhan Yojana Goal
The primary goal of the scheme is to offer financial security to farmers, thereby ensuring dignity during their later years of life.In addition to providing financial assistance, the Pradhan Mantri Kisan Maan Dhan Yojana also emphasizes the importance of social security for farmers.
By offering a monthly pension, the scheme acknowledges the hard work and contribution of farmers to society. This not only benefits individual farmers but also contributes to the overall welfare of the agricultural community. Furthermore, by promoting financial stability and well-being among farmers, the scheme plays a significant role in boosting rural livelihoods and sustaining agricultural practices for future generations.
Pradhan Mantri Kisan Maan Dhan Yojana Important Information
This scheme serves as a means of acknowledging the hard work and dedication of farmers while offering them a sense of financial security in their later years. Through the PM-KMY, the Indian Government aims to uplift farmers and secure their well-being, emphasizing the importance of supporting those who play a vital role in sustaining the country’s agricultural landscape.
Pradhan Mantri Kisan Maan Dhan Yojana Financial Assistance
This provision serves as a safety net for the family, ensuring continue financial assistance even in challenging times. It’s important to highlight that this pension scheme is specifically design for the farmer’s spouse, emphasizing the government’s commitment to safeguarding the welfare of farming families.The PM-KMY scheme plays a crucial role in offering essential financial aid to farmers, addressing their immediate needs and securing their future post-retirement. By providing a structured pension plan, this initiative aims to uplift the agricultural community and ensure dignified livelihoods for those who have dedicated their lives to farming.
Objective of PM- KMY scheme
The PM-KMY scheme, also known as the Pradhan Mantri Kisan Maan-Dhan Yojana, is a government initiative aimed at providing financial security to small and marginal farmers through pension benefits. This scheme offers eligible farmers the opportunity to secure their future without having to deplete their savings or compromise their financial stability. When farmers reach the age of 60 and require additional support for their livelihood, the PM-KMY scheme steps in to provide assistance.Under this program, qualifying farmers are entitled to receive a fixed pension of Rs 3000 per month.
Pradhan Mantri Kisan Maan Dhan Yojana Benefits
The scheme operates on a contributory and voluntary basis, making it accessible to individuals aged between 18 and 40 years old. By contributing towards their pension during their active working years, farmers can ensure a more stable and secure retirement.Participation in the PM-KMY scheme not only offers financial benefits but also instills a sense of social security among farmers, acknowledging their significant contributions to the agricultural sector. This initiative underscores the government’s commitment to supporting the welfare of farmers across the country and promoting sustainable livelihoods in rural communities.
Pradhan Mantri Kisan Maan Dhan Yojana Significan
The Pradhan Mantri Kisan Maan Dhan Yojana hold great significance for several stakeholders as follows as
- Farmers- This PM- KMY scheme ensures the financial security of farmers, and boost their confidence. It also encourages them to adopt sustainable farming techniques.
- Rural economy- A financially secure farming community ensures a robust rural sector and promotes stability and growth.
- National development- Pradhan Mantri Kisan Maan Dhan Yojana address the needs of farmers and contribute to national development and growth
- Social welfare- This PM-KMY scheme improves the living standards of farmers and takes leading steps towards social welfare
Benefits of PM-KMY Yojana
- The PM-KMY scheme also allows the spouse to be eligible and receive a pension. To do so, the spouse of the eligible individual must make separate contributions for the pension amount.
- If the eligible individual passes away before reaching the retirement date, the spouse has the option to maintain the scheme by covering the outstanding fund contributions. If the spouse chooses not to proceed with the scheme, the farmer’s total payment along with interest is given to the spouse.
- If there is no spouse of a beneficiary, then the then-nominee will get the same payment with interest
- If beneficiary die after retirement date, then the spouse will responsible to hald income as family pension. The accumulated amount is credited back to the pension fund on the death of both the farmer and spouse
- If you receive rewards from the scheme you participate in, you won’t need to put in extra funds. Exiting the scheme within ten years of its inception will result in receiving the allocated amount plus interest.
- A farmer has the option to withdraw from the agreement without facing any financial loss. They can receive the cash invested up to the departure date, along with interest similar to a savings account.
PM- KMY Eligibility Criteria
Here the eligibility criteria include land records set by authority that applicant should meet.
- PM – The KMY scheme is for farmers who lie in the age group of 18 to 40 years old
- Small and marginal farmers are eligible to apply for this scheme
- Small and marginal farmers have landholding up to 2 hectares to become qualified for this yojana
- The scheme enrollment is voluntary, and allows farmers to opt in or out of this scheme, according to their needs.
Who is Not Eligible
The Pradhan Mantri Kisan Maan Dhan Yojana is a government initiative that aims to provide financial assistance to small and marginal farmers in India. To qualify for this scheme, individuals must have less than 2 hectares of land, as per the state or union territory’s land records. Large farmers exceeding this land limit are exclude from the program. Additionally, those who are already enroll in other government schemes are not eligible for the benefits of this particular scheme.Furthermore, individuals who are beneficiaries of programs such as the National Pension Scheme, Employees’ State Insurance Corporation, and Employees’ Provident Fund Organization are also ineligible to avail themselves of the benefits offered by the Pradhan Mantri Kisan Maan Dhan Yojana. This exclusion ensures that the resources are direct towards those farmers who truly need financial support and assistance in securing their future.
What Are The Steps To Apply for PM- KMY Yojana 2024 Online?
Here is an easiest guide that eligible farmers can follow to apply for the Pradhan Mantri Kisan Maan Dhan scheme
- Candidates who are interest must go to the closest Common Service Centre with necessary documents such as a bank passbook and Aadhar card.
- At the Common Service Centre, a village-level entrepreneur can assist you in completing your online registration. During the registration process, you will need to provide information such as your name, spouse’s name, nominee’s name, Aadhaar number, active mobile number, alternate number, date of birth, address, etc.
- Next, you are require to input the bank account information and the monthly deduction for contributing funds to this program.
- Applicants’ bank accounts are establish in this manner, with the sponsor bank overseeing their automatic debit setup.
- Next, the CSS staff member will manually review all bank information to authenticate your documents and validate aadhaar.
- If a mobile number is given, it is verified by a One-time password process
- The applicant’s details will undergo evaluation and validation on the digital application form through the act of signing.
- The VLE is require to upload the scanned version of the applicant’s enrollment and debit mandate form and facilitate the initial payment for the contribution.
- Once the payment is confirm, the applicant will receive a receipt.
- Once the registration process is complete, a PM- KMY pension card with a new pension account number is given to the applicant.
- Following registration and the first payment, applicants are provide with a form to authorize monthly deductions from their bank account for PM Kisan benefits.
- The applicant must sign this form to complete the process.
Summary
Empowering small and marginal farmers through schemes like Pradhan Mantri Kisan Maan Dhan Yojana is a crucial step towards ensuring the welfare of those who form the backbone of our agricultural sector. By providing financial security and support to these farmers, we not only uplift their livelihoods but also contribute to the growth and sustainability of our agricultural industry. It’s imperative that such initiatives continue to receive attention and resources to benefit those who work tirelessly to feed our nation. Let’s stand together in supporting our farmers and building a stronger, more prosperous agricultural community for generations to come.