To strengthen the economic situation of farmers, various schemes are launched from time to time by the central and state governments. In addition to income from farming, financial security in old age is also a major concern for farmers. Keeping this need in mind, the central  government has launched the Pradhan Mantri Kisan Maandhan Yojana (PM-KMY). 

Under this scheme, eligible farmers are required to contribute a small amount each month according to their age. In return, they receive a pension of ₹3,000 per month after the age of 60. However, not every farmer can benefit from this scheme. The government has established certain eligibility criteria.

What is Pradhan Mantri Kisan Maandhan Yojana?

The Pradhan Mantri Kisan Maandhan Yojana is a pension and social security scheme for farmers. It was launched to provide financial support to farmers in their old age. Under the scheme, eligible farmers deposit a fixed amount each month based on their age and receive a monthly pension after reaching the age of 60.

The monthly contribution by a farmer under this scheme can range from ₹55 to ₹200. The contribution amount is determined by the farmer's age. The government also contributes an amount equal to the stipulated contribution.

Which farmer can apply?

To participate in the Pradhan Mantri Kisan Maandhan Yojana, farmers must be between the ages of 18 and 40. This scheme is primarily for small and marginal farmers, and the government has established land and other eligibility requirements.

Therefore, before applying, it is important to ensure that you fulfill all the eligibility conditions of the scheme.

How to apply for PM Kisan Mandhan Yojana?

To apply for the scheme, farmers can visit their nearest Common Service Center (CSC). It's generally helpful to have your Aadhaar card, bank passbook, and other relevant personal information with you when applying.

The Village Level Entrepreneur (VLE) at the CSC helps you complete the online application process based on your information. Information such as Aadhaar number, mobile number, name, and nominee are entered into the application.

A fixed amount will be deducted from the bank account every month.

After joining the scheme, farmers are required to set up auto-debit facility for monthly contributions from their bank account. Under this scheme, the fixed amount is automatically deducted from their bank account every month.

The required Enrolment-cum-Debit Mandate Form is completed during the application process. Upon successful application completion, the farmer is assigned a unique pension number.

Pension will be available after the age of 60 years

The biggest benefit of this scheme is that eligible farmers receive a pension of ₹3,000 per month after reaching the age of 60. This allows farmers to receive regular financial support in their old age, rather than relying solely on farming income.

If you are thinking of taking advantage of this scheme, then before applying, please check your eligibility, contribution amount and current terms and conditions of the scheme from the official source or nearest CSC.

PC: IN NEWS