The PM-KMY provides monetary help to farmers in their adulthood after they don't have any suggests that of support and lowest or no savings for taking care of their expenses. The PM-KMY is effective from ninth August 2019.
Although the govt. supported the farmers in terms of financial gain and subsidy, a necessity was felt to supply a social insurance web for farmers in their adulthood because it might end in loss of support. Farming needs exertions within the fields and adulthood makes it difficult to try and do the farm-work.
The problem is aggravated with the little and marginal farmers as they are doing not have any savings or have lowest savings. Thus, the govt. introduced the PM-KMY to supply assured monthly pensions to adulthood tiny and marginal farmers, no matter male or feminine, WHO attain sixty years mature.
Features of Pradhan Mantri Kisan Maan Dhan Yojana
- Farmers’ Welfare, in partnership with the insurance Corporation of Republic of India (LIC), administers the PM-KMY.
- The LIC is that the Pension Fund Manager and answerable for the pay-out of pension beneath the PM-KMY.
- The Central Government through the Department of Agriculture Cooperation and Farmers Welfare has contributed the same amount to the AN as the eligible farmers have contributed to the Pension Fund under PM-KMY.
Benefits of Pradhan Mantri Kisan Maan Dhan Yojana
Under PM-KMY, small and small farmers under the age of sixty are being paid a minimum fixed pension of Rs 3,000 per month as per the limited eviction criteria. This is a voluntary tributary Eligible farmers should contribute to the pension fund between Rs 55 and Rs 200 per month depending on their age of entry.
The Central Government conjointly contributes AN equal quantity as contributed by the farmers to the Pension Fund. On the death of the eligible farmer, the farmer’s married person is entitled to receive five hundredth of the pension as a family pension. However, the family pension is applicable solely to the married person of the farmer.
Eligibility Criteria for Pradhan Mantri Kisan Maan Dhan Yojana
- Small and marginal farmers WHO own cultivatable finishes up to two hectares as per the land records of the individual State/UT.
- The age of the farmers ought to be between eighteen to forty years.
Also Read- Kisan credit card process
The following beneficiaries of the upper economic standing don't seem to be eligible for the advantages beneath the scheme:
- All institutional landholders.
- Present and former holders of constitutional posts.
- Present and former Ministers, Chairpersons of District Panchayats, Mayors of the Municipal companies, State Ministers and Members of Rajya Sabha, Lok Sabha, State Legislative Councils, and State Legislative Assemblies.
- Individuals WHO have paid taxation within the last assessment year.
- Professionals like Engineers, Doctors, leased Accountants, Lawyers and designers registered with the individual skilled bodies and enterprise apply.
- All retired and serving workers and officers of the Central or regime, Departments and their field units, Ministries, Central or State PSEs and hooked up offices, autonomous establishments beneath the govt. and regular workers of the native Bodies (Excluding category IV/Multi Tasking employees /Group D employees)
- Application Procedure for PM-KMY.
- The enrollment for PM-KMY may be done on-line furthermore as offline. The farmer will enter on-line for Pradhan Mantri Kisan Maan Dhan Yojana through self-registration on the MAANDHAN portal. The enrollment for the PM-KMY is freed from value.
The process of enrollment for PMKMY offline is as follows:
- The eligible tiny and marginal farmers ought to visit the closest Common Service Centre (CSC) and apply for the PM-KMY beside the subsequent documents:
1. Aadhaar card.
2. Savings checking account variety with IFSC Code.
- The initial contribution quantity ought to be created in money to the Village Level enterpriser (VLE).
- The VLE can enter the name of the subscriber, the Aadhaar variety and date of birth as written on an Aadhaar card for authentication on-line.
- The online system can mechanically calculate the monthly contribution to be paid by the farmer in step with the age of the farmer/subscriber.
- The subscriber must pay the primary subscription quantity to the VLE in money.
- The written incoming liquid body substance automotive vehicle Debit mandate type ought to be signed by the subscriber. The VLE can scan a similar and transfer it on-line.
- A unique Kisan retirement savings plan variety (KPAN) is generated, and also the Kisan Card are written.
