PM Kisan Maan-Dhan Yojana: The Central Government runs numerous welfare schemes to strengthen farmers financially. Currently, the PM Kisan Maan-Dhan Yojana benefits small and marginal farmers. The primary objective of this scheme is to provide financial stability to farmers and ensure they receive a regular income after attaining the age of 60.
Farmers often lack a steady income. Natural disasters frequently cause losses, leading to fluctuations in earnings and affecting their future financial security. To alleviate these challenges and secure their future, the government is running this welfare scheme to provide a monthly pension. Let us understand the pension amount provided under this scheme and the application process to avail of its benefits.
Pension Amount under PM Kisan Maan-Dhan Yojana
Under the PM Kisan Maan-Dhan Yojana, eligible farmers receive a monthly pension of ₹3,000 upon attaining the age of 60. This amounts to an annual total of ₹36,000. The scheme addresses the reality that farmers may become unable to cultivate land in the future due to declining physical strength; the government provides this pension to support their livelihood during that period.
How Much Do Farmers Need to Contribute?
The monthly contribution amount under the PM Kisan Maan-Dhan Yojana is determined based on the farmer’s age. Farmers can make monthly contributions ranging from ₹55 to ₹200. A lower entry age results in a lower monthly contribution. A key feature of this scheme is that the Central Government makes a matching contribution equal to the amount deposited by the farmer. Thus, both the farmer and the government contribute to building the pension fund.
Both Husband and Wife Can Avail the Benefits
It is worth noting that both husband and wife can avail themselves of the benefits of this Central Government scheme. To do so, they must make separate contributions and open individual accounts. Subsequently, each can receive a pension of ₹3,000. Thus, the combined monthly pension for the couple would amount to ₹6,000.
Which Farmers Are Eligible for the Scheme?
Farmers aged between 18 and 40 years can avail the benefits of the PM-KMY (Pradhan Mantri Kisan Maandhan Yojana). Eligibility is also contingent upon owning up to 2 hectares of cultivable land. Upon applying for the scheme, the farmer is required to make regular contributions.
How to Apply?
To apply for the PM-Kisan Maandhan Yojana, farmers must visit their nearest Common Service Centre (CSC) and register. The application process requires an Aadhaar card, bank account details, and land-related documents. Before applying, farmers should verify their eligibility and review the scheme’s rules and regulations.