Title: Pradhan Mantri Kisan Maan-Dhan Yojana: Empowering India’s Farmers
Introduction:
Agriculture plays a pivotal role in India’s economy, providing livelihoods to millions of farmers across the country. However, farmers are often faced with numerous challenges, including the lack of financial security and social protection. In an effort to address these issues, the government of India launched the Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY), a unique pension scheme specifically designed for small and marginal farmers. This article explores the significance and impact of PM-KMY in empowering India’s farming community.
Objective and Eligibility:
The primary objective of PM-KMY is to provide access to a monthly pension to farmers above the age of 60. To be eligible for the scheme, farmers must be between the ages of 18 and 40 and have a cultivable landholding of up to 2 hectares. The scheme aims to cover approximately 5 crore farmers across the country and ensure income security during their old age.
Key Features and Benefits:
1. Pension Coverage: Under the PM-KMY, eligible farmers will receive a fixed monthly pension of Rs.3,000 after attaining the age of 60. The pension amount is directly transferred to their bank accounts through the Direct Benefit Transfer (DBT) mechanism.
2. Affordable Contributions: Farmers enrolled in PM-KMY will be required to contribute a small monthly amount, depending on their age of entry. The scheme allows for contributions as low as Rs.55 per month for a 29-year-old farmer, up to Rs.200 for an entry age of 40. The remaining contribution will be made by the central government.
3. Voluntary and Opt-Out: The scheme is voluntary, allowing farmers to join and exit as per their choice. However, to encourage uninterrupted participation, farmers who decide to opt out of the scheme will need to contribute their share along with government contributions until they reach the age of 60.
4. Enhanced Social Security: PM-KMY aims to enhance social security for farmers. In unfortunate events such as death or permanent disability, farmers who have contributed regularly for at least five years prior to the incident will be eligible to claim immediate pension benefits.
5. Spousal Coverage: The scheme also provides spousal coverage through a joint contribution. In cases where farmers’ wives meet the eligibility criteria, they can also opt to participate in the scheme and receive an equal pension amount.
Impact and Conclusion:
The Pradhan Mantri Kisan Maan-Dhan Yojana holds immense potential to revolutionize the lives of small and marginal farmers in India. By providing financial stability, it ensures a dignified livelihood for farmers during their old age. The scheme also promotes social inclusion and highlights the government’s commitment to uplift the farming community.
The PM-KMY has successfully addressed the long-standing issue of social security for farmers, acknowledging their invaluable contributions to the nation’s development. By safeguarding farmers’ future and economic well-being, this scheme enables them to continue their agricultural activities fearlessly, further driving the growth and progress of India’s agricultural sector.