Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY) is an initiative by the Indian government to ensure the social security of small and marginal farmers. The scheme targets farmers who are above the age of 18 years and have an agricultural landholding of up to 2 hectares. This scheme aims at providing financial assistance to farmers and helping them lead a financially secure life.
The eligibility criteria for PM-KMY include the farmer must be between the age of 18 and 40 years and should have a cultivable landholding of up to 2 hectares. However, the scheme is optional, and farmers who wish to opt for this scheme can apply for it through Common Service Centers (CSCs) located in their respective villages or areas.
The benefit of this scheme is that farmers will receive a fixed pension of Rs.3000 per month on attaining the age of 60 years. The contribution is shared by the farmer and the government, where the farmer has to contribute a nominal amount ranging between Rs.55 and Rs.200 per month, depending on their age. The government also contributes an equal amount to the fund.
The objective of this scheme is to provide social security to farmers who work tirelessly to ensure food security in the country. Since agriculture is dependent on climatic conditions and market fluctuations, it becomes challenging for small farmers to make ends meet. Therefore, this scheme is a step towards providing financial independence to farmers and ensuring their well-being.
The PM-KMY scheme was launched in September 2019 and has since then seen an upward trend in farmer participation. The scheme has a target of reaching out to 5 crore farmers across the country. The scheme is a great initiative and has the potential to uplift the farmers and improve their livelihoods.
In conclusion, the PM-KMY scheme is an excellent initiative by the Indian government to provide social security to small and marginal farmers. The scheme aims to ensure financial independence and well-being for farmers and is a step towards improving their standard of living. The criteria for eligibility are straightforward, and farmers should opt for this scheme to lead a financially secure life post-retirement.