PM Kisan Mandhan Scheme Update: The central government continuously works to improve the lives of farmers and the general public through various schemes. One such scheme is the Pradhan Mantri Kisan Mandhan Yojana (PMKMY), launched on 12 September 2019. This scheme was introduced to secure the financial future of small and marginal farmers in the country. Its main objective is to support farmers who face financial difficulties in old age. Let’s learn more about the Pradhan Mantri Kisan Mandhan Yojana in this article.
The objective of the Scheme
The Pradhan Mantri Kisan Mandhan Yojana aims to provide financial security to elderly farmers. As farmers age, their capacity to work decreases, causing financial difficulties. The scheme was introduced to ensure that small and marginal farmers can receive a fixed pension in their old age, helping them avoid financial stress during their later years.
Who Can Benefit from This Scheme?
This scheme benefits farmers whose annual income is less than Rs 1.80 lakh and who are between the ages of 18 and 40. It also includes drivers, rickshaw pullers, cobblers, tailors, laborers, domestic workers, and kiln workers.
Contribution and Pension
To participate, farmers need to contribute a small amount every month. For example, if the farmer is 18 years old, they will need to contribute Rs 55 per month, and the government will match this amount. As the farmer gets older, the monthly contribution increases. For instance, a 29-year-old contributes Rs 100, and a 40-year-old contributes Rs 200 per month. After reaching the age of 60, the farmer will start receiving a monthly pension of Rs 3,000, providing long-term financial security.
Key Features of Pradhan Mantri Kisan Mandhan Yojana
Easy Contribution Process: Farmers can contribute small amounts every month, making it easier to improve their financial situation.
Pension Amount: After turning 60, farmers will receive a pension of Rs 3,000 each month, helping them avoid financial struggles in old age.
Minimum Contribution: The scheme allows farmers to make small monthly contributions, making it accessible to many.
Key Benefits of Pradhan Mantri Kisan Mandhan Yojana
Farmers receive a monthly pension of Rs 3,000 after the age of 60.
The government matches the farmer’s contribution, doubling the amount saved.
If the beneficiary dies, their family, especially the wife, can continue contributing to the scheme and still receive the pension.
The application process is simple and requires only a few documents. Both online and offline applications are available.
Application Process
Online Application:
Visit the official website of Pradhan Mantri Kisan Mandhan Yojana here.
Fill out the registration form and upload the required documents.
Provide bank account details, Aadhaar card, and other necessary information.
Submit the form, and you will receive confirmation of your registration.
Offline Application:
Visit the nearest Agriculture Department or Kisan Seva Kendra.
Fill out the application form and submit the required documents.
The concerned officials will verify the information, and the registration will be completed.
Required Documents for Pradhan Mantri Kisan Mandhan Yojana
Aadhaar Card
Bank Account Details (for pension deposits)
Income Certificate (related to agriculture)
Passport Size Photo
What Happens After Death?
If the beneficiary passes away, their wife can continue contributing to the scheme and will be eligible for the pension. If she chooses not to continue, the amount deposited by the farmer will be returned along with interest. This ensures that the family is protected even after the beneficiary’s death.