Title: Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY): Empowering India’s Farmers
Introduction
Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY) is a revolutionary government scheme that aims to provide social security and financial assistance to small and marginal farmers across India. Launched in September 2019, PM-KMY seeks to address the challenges faced by farmers, particularly those of old age, by establishing a pension fund for their welfare. This article explores the key features, benefits, and eligibility criteria associated with Pradhan Mantri Kisan Maan-dhan Yojana.
Features of PM-KMY
1. Pension Benefits: Under PM-KMY, small and marginal farmers aged between 18 and 40 years are eligible for a minimum pension of Rs. 3,000 per month after reaching the age of 60. This initiative ensures a reliable source of income during their later years and promotes a sense of financial security.
2. Contribution: Farmers enrolled in PM-KMY need to make a monthly contribution towards their pension fund. The contribution amount is based on the farmer’s entry age, ranging from Rs. 55 to Rs. 200, with matching contributions from the central government.
3. Assured Death Benefits: In the unfortunate event of a farmer’s demise before reaching the age of 60, the spouse is entitled to continue availing the pension by paying the required contribution amount. If the spouse chooses not to continue, the accumulated contributions can be withdrawn.
4. Easy Enrollment Process: Farmers can enroll in PM-KMY through Common Service Centers (CSCs) across the country or at the nearest Krishi Vigyan Kendra (KVK), ensuring easy accessibility for even the most remote farming communities. The Aadhaar number and savings bank account details are the main requirements for enrollment.
Benefits of PM-KMY
1. Social Security: PM-KMY provides the much-needed social security net for millions of small and marginal farmers who often struggle with financial uncertainties, especially during their old age.
2. Financial Independence: The pension provided through PM-KMY empowers farmers to support themselves and maintain their dignity, even after retiring from active farming.
3. Improved Quality of Life: With a secure source of income, the scheme enables farmers to fulfill their basic needs, access healthcare facilities, and provide a better life for their families.
4. Encouragement for Small-Scale Farming: PM-KMY motivates small-scale farming by instilling confidence amongst farmers, ensuring their contributions are matched by the government and paving the way for a self-reliant future.
Eligibility Criteria for PM-KMY
– Small and marginal farmers (both individuals and spouses) aged between 18 and 40 years are eligible to enroll in PM-KMY.
– Farmers must have cultivable land up to 2 hectares as per the land records.
– Farmers should possess a valid Aadhaar card and savings bank account.
Conclusion
Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY) has become a vital tool for social welfare, guaranteeing financial security and stability to small and marginal farmers in India. By ensuring a constant monthly pension, PM-KMY helps farmers embrace their old age with confidence and dignity. This innovative scheme offers tremendous potential to transform the lives of millions of farmers across the country, marking a significant step towards inclusive and sustainable growth for India’s agriculture sector.