7 Crore+ Customers
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7 Crore+ Customers
Affordable Premium
Pradhan Mantri Kisan Maandhan Yojana is a scheme under the government of India providing financial security to small and marginal farmers at their old age. This scheme came into effect on 12th Sep 2019 and is meant to provide social security to farmers with no means of livelihood or minimal or no savings during their old age.
Here is a detailed discourse on PM Kisan Maandhan Yojana (PMKMDY), eligibility, beneficiaries, the application process, and other related details.
PM Kisan Maandhan Yojana covers farmers possessing land up to 2 hectares in the age group 18-40 years with a minimum pension of ₹3,000 per month. After attaining the age of 60 years, a beneficiary will receive the pension amount. This amount will get directly deposited in the beneficiary’s bank account. On death or demise of a farmer, their spouse will receive a pension. Only, a spouse of a farmer is eligible to avail of this benefit.
The need for this scheme lies in the fact that it provides security to the lives of 5 crore marginal and small farmers by offering this minimum pension amount. Adding to this, about 3 crore small traders are among the beneficiaries of this scheme.
According to PM, Mr Narendra Modi, more than 21,000 crore have been credited into bank accounts of 6.5 crore farmer families falling under the above mentioned category.
He further stated – “Development is our priority as well as commitment. Our government is trying to provide a shield of social security to every Indian.” As stated by the PM, the Pradhan Mantri Kisan Maandhan Yojana is needed to develop the impoverished and underprivileged farmers in India.
This section will share in-depth information about the Kisan Maandhan Yojana benefits and its features. Please check the same below.
Mentioned below are some of the benefits of Pradhan Mantri Kisan Maandhan Yojana.
1. Benefits to the Family After an Eligible Farmer’s Death: Upon receiving a pension, on the death of an eligible farmer, the spouse will avail of 50% of the pension benefits. Also, a spouse will receive interest from this scheme or a savings bank interest, whichever is more. Only the spouse of an eligible farmer is liable to receive such benefits. Also, it is possible to exit from this scheme after the demise of an eligible farmer.
2. Disablement Benefits: Another critical benefit of this scheme is that a spouse of a beneficiary can receive the benefits under this scheme if the beneficiary becomes disabled permanently due to any reason before attaining 60 years. The spouses can also make contributions or exit from this scheme in case their beneficiaries are unable to make further contributions.
On exit from this scheme, the spouses of farmers will receive all the contributions made so far. In addition, they also receive an interest earned from this scheme or at an interest rate similar to that of current bank rate (Savings Scheme), whichever is higher.
3. Benefits After Exiting the Pension Scheme: If eligible farmers exit this Kisan Maandhan Yojana before ten years from joining this scheme, their contribution will get credited to their savings bank account along with the savings bank interest rate.
In case of exiting this scheme after completing 10 years from joining this scheme but before 60 years of age, eligible subscribers will receive their entire accumulated contribution amount. In addition, they will receive an interest earned from this scheme or a savings bank interest rate, whichever is higher.
Finally, in case of death of a farmer and their spouse, an accumulated fund corpus will get credited back to the fund.
An average contribution ranges from ₹ 55 to ₹ 200 each month till attaining an age of 60 years to avail such pension benefits. We have mentioned an age-wise contribution list below.
Farmer’s Age (in yrs) (E) |
Monthly Contribution of Member (G) and Monthly Contribution by Central Government (H) |
Monthly Total Contribution (₹) (Total = G + H) |
18 |
₹55 each |
110 |
19 |
₹58 each |
116 |
20 |
₹61 each |
122 |
21 |
₹64 each |
128 |
22 |
₹68 each |
136 |
23 |
₹72 each |
144 |
24 |
₹76 each |
152 |
25 |
₹80 each |
160 |
26 |
₹85 each |
170 |
27 |
₹90 each |
180 |
28 |
₹95 each |
190 |
29 |
₹100 each |
200 |
30 |
₹105 each |
210 |
31 |
₹110 each |
220 |
32 |
₹120 each |
240 |
33 |
₹130 each |
260 |
34 |
₹140 each |
280 |
35 |
₹150 each |
300 |
36 |
₹160 each |
320 |
37 |
₹170 each |
340 |
38 |
₹180 each |
360 |
39 |
₹190 each |
380 |
40 |
₹200 each |
400 |
Eligible applicants can apply both in online and offline mode, as mentioned here.
Eligible farmers can enrol themselves at the nearest CSC or Common Service Centre.
Finally, a unique KPAN or Kisan Pension Account Number will be generated, and a Kisan Card will get printed.
To check application status, subscribers can visit either of these two sites - www.maandhan.in or www.pmkmy.gov.in. They can also reach out to appropriate authority via 1800 3000 3468 or support@csc.gov.in.
Pradhan Mantri Kisan Maandhan Yojana is social security scheme for underprivileged farmers in India and aims to work for their upliftment for a good and secured life.