Pradhan Mantri Kisan Maan Dhan Yojana: Empowering India’s Farmers

Introduction

Agriculture is the backbone of India’s economy, employing a significant portion of the population. However, farmers often face numerous challenges, including financial instability and lack of social security. To address these concerns, the Government of India launched the Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY) in September 2019. This ambitious scheme aims to provide a social security net for small and marginal farmers in their old age.

What is Pradhan Mantri Kisan Maan Dhan Yojana?

Pradhan Mantri Kisan Maan Dhan Yojana is a voluntary pension scheme for small and marginal farmers. Under this scheme, farmers between the ages of 18 and 40 can opt to contribute a small amount of money towards their pension fund. The central government also contributes an equal amount to the pension fund on behalf of the farmer. Upon reaching the age of 60, the farmer will receive a monthly pension of ₹3,000.

Key Features and Benefits

The Pradhan Mantri Kisan Maan Dhan Yojana offers several key features and benefits to farmers across India. Let’s take a closer look at them:

• Financial Security: The scheme provides financial security to small and marginal farmers during their old age. The monthly pension of ₹3,000 can help them meet their basic needs and lead a dignified life.
• Easy Enrollment: Farmers can easily enroll in the scheme through their nearest Common Service Centres (CSCs) or Krishi Vigyan Kendras (KVKs). The enrollment process is hassle-free, and farmers only need to provide basic details such as Aadhaar card, bank account number, and mobile number.
• Low Contribution: The contribution amount for the scheme is kept minimal to ensure maximum participation. Small and marginal farmers need to contribute between ₹55 and ₹200 per month, depending on their age.
• Matching Government Contribution: The central government matches the farmer’s contribution, effectively doubling the pension fund. This ensures that farmers receive a substantial amount as a monthly pension after reaching the age of 60.
• Life Insurance Coverage: Along with the pension, farmers also receive life insurance coverage of ₹2 lakh in case of accidental death or disability. This provides an additional layer of financial protection for the farmer’s family.
• Portability: The scheme is portable across the country, meaning farmers can continue to contribute and avail benefits even if they move to a different state.

Eligibility Criteria

To be eligible for the Pradhan Mantri Kisan Maan Dhan Yojana, farmers must meet the following criteria:

• They should be small and marginal farmers between the ages of 18 and 40.
• They should have a cultivable landholding of up to 2 hectares.
• They should have a valid Aadhaar card and a savings bank account.

SUMMARY

The Pradhan Mantri Kisan Maan Dhan Yojana is a significant step towards ensuring the welfare of India’s farmers. By providing them with a social security net, the scheme aims to alleviate the financial burdens faced by small and marginal farmers during their old age. It not only empowers farmers but also recognizes their invaluable contribution to the nation’s food security. Through this scheme, the government is sending a strong message of support and solidarity to the farming community.

The Pradhan Mantri Kisan Maan Dhan Yojana is a testament to the government’s commitment to the welfare of farmers. It is a crucial step towards building a more inclusive and sustainable agricultural sector in India. By ensuring financial security and social protection for farmers, the scheme aims to uplift their lives and create a brighter future for the farming community. It is a ray of hope for millions of farmers across the country, promising them a dignified and secure life after years of hard work in the fields.