The Central government is introducing special schemes for farmers to ensure their financial security as long as they are actively engaged in farming.
However, once farmers reach old age, they often face significant challenges, especially if they can no longer tend to their fields.
To support small and marginal farmers over 60, the central government has launched the Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY).
This voluntary, contributory pension scheme, effective August 9, 2019, is aimed at individuals aged 18 to 40. Eligible farmers can benefit from this scheme, which provides a monthly pension of Rs.3,000 to small and marginal farmers (SMFs) once they reach the age of 60.
According to the land records of their respective state or union territory, small and marginal farmers own up to 2 hectares of cultivable land.
Farmers can choose online or offline application methods for the scheme. They need to have the following documents: a passport-sized photo, a residence certificate, income proof, age proof, details of cultivable land, a bank passbook, an Aadhaar card, and a registered mobile number.
To apply online, follow these steps:
- Visit the official website of the Pradhan Mantri Kisan Maan Dhan Yojana.
- On the homepage, log in by entering your phone number.
- Fill in the required information and click “Generate OTP.”
- An OTP will be sent to your registered mobile number.
- Enter the OTP and submit the application form.
Farmers must be between ages 18 and 40 at the time of application. Depending on their age, they must contribute between Rs.55 and Rs.200 to the scheme.
In the unfortunate event of a farmer’s death, 50% of the family pension will be awarded to the farmer’s wife. Under this scheme, family pensions are available solely for the farmer and their spouse.
The Pradhan Mantri Kisan Maan Dhan Yojana aims to provide financial stability to farmers during their old age, reducing their dependency on others.