+91Since decades, the need for major reforms in policies related to the rights of farmers tops the list of agendas of the Indian Government. On 12th September, 2019 PM Narendra Modi launched the PM Kisan Maan Dhan Yojana with a motive to secure the lives of farmers and decrease death rates. The scheme was launched in the state of Ranchi, Jharkhand.
Objectives of the PM Kisan Maan Dhan Yojana
The Pradhan Mantri Kisan Maan Dhan Yojana is brought into action to serve as an old age pension plan for the farmers in the country
- Pension scheme for all Small and Marginal Farmers (SMFs)
- To secure the lives of the farmers
- To provide proper development skills and social security
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Eligibility
The eligibility for Pradhan Mantri Kisan Maan Dhan Yojana follows the given criteria:
- Entry age of 18 to years
- Small and Marginal Farmer (SMF) who owns cultivable land up to 2 hectare (according to the land records of the same state/UT)
- SMFs enrolled under other saving schemes such as Nation Pension Scheme (NPS), Employees’ Provident Fund Organisation etc.
- Farmers enrolled under Pradhan Mantri Shram Yogi Maan Dhan Yojana (PM-SYM), Pradhan Mantri Laghu Vyapari Maan-dhan Yojana (PM-LVM)
Who is not eligible to enter the Pradhan Mantri Kisan Maan-Dhan Yojana?
According to the terms of the scheme, these are the categories of beneficiaries who cannot enter into this scheme:
- Institutional Land owners
- Constitutional Post holders- Former or Present
- Former or Present- Ministers, State Ministers, Members of Lok Sabha, Members of Rajya Sabha, Members of State Legislative assemblies/councils, Mayors of Municipal Corporation, Chairperson of District Panchayat
- Serving or Retired- Officers and Employees of Central Govt. Ministries, State Govt. Ministries, Regular Employees of Local Bodies, Employees of autonomous institutions under the Government
- Professionals like Doctors, Engineers, Lawyers, CAs, Architects- all who paid income tax in the last assessment year
Components of Pradhan Mantri Kisan Maan Dhan Yojana/Scheme
The scheme revolves around the provision of a minimum monthly pension to the farmers attaining the age of 60 years.
- Rs.3000/- will be sanctioned as monthly pension in favour of the pensioner enrolled under the scheme
- A monthly contribution of Rs.55 to Rs.200 are supposed to be made by the farmers, according to their entry age, into the Pension Fund till the age of 60 years
Features of the Scheme/Yojana
- The Pension Fund is managed by the Life Insurance Corporation of India (LIC)
- The entry age group into the Pradhan Mantri Kisan Maan Dhan Yojana is 18 to 40 years
- Monthly contribution of Rs.55 to Rs.200, depending on the age of entry, will have to be made into the Pension fund till the retirement age of 60 years
- The contribution will be due on the same date as of the enrollment date, every month
- The beneficiary is eligible to make contributions on quarterly or half yearly basis
- The spouse of the beneficiary can also avail the monthly pension benefit only if separate contributions are made into the fund
- In case the pensioner is deceased before the age of retirement, their spouse may continue to the same scheme by making the remaining contributions till the age of 60 years of the deceased farmer. If the spouse does not want to continue with the scheme, the amount of contributions made along with the interests eligible will be paid in total to the spouse. Moreover, if there is no spouse of the deceased farmer then the total amount will be paid to the nominee
- The spouse will get 50% of the pension as Family Pension in case of death of the farmer after the retirement age
- In case both the farmer and the spouse dies, the accumulated corpus gets credited to the Pension Fund
- If there is any failure in making the contributions regularly, the beneficiaries are eligible to re-establish regular payments by clearing the outstanding dues along with interest payable. No late fees gets charged until 1 month from unpaid contribution
Monthly Contribution Amount
Specified below is a tabular data of the specific contribution amount payable against the entry age:
| Entry Age (Years) | Monthly Contribution by the Member (Rs.) | Monthly Contribution by the Govt. (Rs.) | Total Monthly Contribution (Rs.) |
| 18 | 55.00 | 55.00 | 110.00 |
| 19 | 58.00 | 58.00 | 116.00 |
| 20 | 61.00 | 61.00 | 122.00 |
| 21 | 64.00 | 64.00 | 128.00 |
| 22 | 68.00 | 68.00 | 136.00 |
| 23 | 72.00 | 72.00 | 144.00 |
| 24 | 76.00 | 76.00 | 152.00 |
| 25 | 80.00 | 80.00 | 160.00 |
| 26 | 85.00 | 85.00 | 170.00 |
| 27 | 90.00 | 90.00 | 180.00 |
| 28 | 95.00 | 95.00 | 190.00 |
| 29 | 100.00 | 100.00 | 200.00 |
| 30 | 105.00 | 105.00 | 210.00 |
| 31 | 110.00 | 110.00 | 220.00 |
| 32 | 120.00 | 120.00 | 240.00 |
| 33 | 130.00 | 130.00 | 260.00 |
| 34 | 140.00 | 140.00 | 280.00 |
| 35 | 150.00 | 150.00 | 300.00 |
| 36 | 160.00 | 160.00 | 320.00 |
| 37 | 170.00 | 170.00 | 340.00 |
| 38 | 180.00 | 180.00 | 360.00 |
| 39 | 190.00 | 190.00 | 380.00 |
| 40 | 200.00 | 200.00 | 400.00 |
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Documents Required under the scheme
Here is a list of documents which must be submitted by the applicant at the time of entry into the Kisan Maan Dhan Yojana:
- Aadhaar Card
- Bank Passbook and Account Details
- Birth Certificate
- Address Proof
- Particulars of the nominee
How to apply for the scheme?
In order to apply for Kisan Maan-Dhan Yojana, the farmer (applicant) must undergo the self-registration process online or via Common Service Centres present in several States. The enrollment process is absolutely free for all the applicants. However, Rs.30/- will be charged as enrolment process fees in the Common Service Centres which is borne by the Government itself.
For online self registration, Click Here
Registration Process for Kisan Maan-Dhan Yojana
Given below is the process following which the applicant can be registered under the Pension Fund:
- Go to the nearest Common Service Centre along with the required documents
- The Village Level Entrepreneur (VLE) available at the CSC will get the online registration done will help of documents like Name, DOB, Aadhaar card number and details of the spouse and nominee
- The data is checked manually including the verification of bank and personal details from the supporting documents
- The mobile number of the beneficiary is verified via OTP
- Scanned, self-attested copies are collected from the beneficiary, attached with the registration form
- The form along with the copies of supporting documents are sent for further processing
- After the completion of the enrollment process, an auto-debit mandate form is generated by the bank of the beneficiary which is duly signed declaring the consent of the farmer for auto-debit of contributions every month
Voluntary exit from the scheme
The beneficiaries are eligible to make voluntary exits from the Pension Fund only after completion of at least 5 years of regular contributions. Once the exit is initiated, the LIC is required to return the entire contribution amount made till date along with the interests payable according to the existing interest rate.