Last Updated: February 16, 2023, 10:55 IST
This authorities scheme was created to offer social safety and old-age safety to small and marginal farmers (SMF).
The farmer’s partner will likely be eligible to obtain 50% of the pension, in the occasion of the farmer’s dying.
The Indian authorities has launched a number of packages for farmers’ welfare, together with the PM Kisan Samman Nidhi, Kisan Samridhi Kendras, the Kisan Credit Card Program, and the Pradhan Mantri Krishi Sinchayee Yojana. Farmers obtain Rs 6000 yearly by way of the PM Kisan Samman Nidhi in three equal instalments of Rs 2000. The central authorities has additionally created the Pradhan Mantri Kisan Maandhan Yojana (PMKMY) to help farmers of their previous age. This authorities scheme was created to offer social safety and old-age safety to small and marginal farmers (SMF).
All small and marginal farmers, who’ve cultivable landholdings as much as 2 hectares and who’re between 18 and 40, are eligible to enrol in the pension plan below the program if their names are included in the land registers of the States/UTs. After turning 60, farmers lined by this program will earn a minimal assured pension of Rs 3000 per 30 days. The farmer’s partner will likely be eligible to obtain 50% of the pension as a ‘family pension’, in the occasion of the farmer’s dying. Children usually are not eligible to be beneficiaries of the household pension, solely spouses are.
Until they attain the age of 60, registrants between 18 and 40 can be required to make month-to-month contributions, starting from Rs 55 to Rs 200. The applicant or subscriber could make a pension declare after they attain 60 years of age. A set pension quantity is positioned into their account every month.
Following the plan, the authorities offers an identical contribution. If a farmer contributes Rs 100 every month to the pension fund, the authorities will match that contribution. 1,92,5,369 farmers have thus far chosen to take part in the Pradhan Mantri Kisan Maandhan Yojana.
One ought to needless to say solely these small farmers who usually are not lined by another statutory social safety packages, corresponding to the National Pension Scheme (NPS), Employees’ State Insurance Corporation program, or Employees’ Fund Organization program, are eligible for the Pradhan Mantri Kisan Maandhan Yojana. Farmers who selected to take part in the Ministry of Labour & Employment-run Pradhan Mantri Shram Yogi Maandhan Yojana and Pradhan Mantri Vyapari Maandhan are likewise ineligible to register for PMKMY.
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