Under PM Kisan Maandhan Yojana, small and marginal farmers between the age of 18-40 must register to receive pension in future. They would become eligible for pension of Rs 3000 per month after attaining the age of 60 years. In case of death, the spouse will receive half of the allotted amount.
PM Kisan Maandhan Yojana
A beneficial scheme introduced by the government on November 2018, with an objective to aid farmers future. Farmers from all the states are eligible in receiving pension in future under the scheme. Further, farmers must pay Rs 55-200 per month, a contingent of their age of entry in the scheme. The government of India matches the same amount contributed by the farmer. Eligibility includes small and marginal farmers with up to 2 hectare of agriculture land.
Furthermore, for ease of registration only two significant documents required for submission under the scheme. Farmers should submit Aadhaar card along with an savings bank account or preferably a PM KISAN account proof. In the case of registration through common service centres will cost Rs 30. However, online registration is available without any charges.
The Rate of Success
As of now, over 1.8 million farmers have registered under the scheme. Experts estimate over 30 million farmers to register in the coming months. Yet an absolute approximation cannot be attained as the scheme is voluntary. It is necessary to urge the farmers to participate in the scheme to secure their retirement. As a result, the success of PM Kisan Maandhan Yojana will directly reflect on improving livelihood of farmers.
The government had earlier introduced PM Kisan-Samman Nidhi Scheme to help farmer families receive Rs 6000 yearly income. Number of schemes the Indian government introduced reflects their strategy to empower farmers. In conclusion, expect increase in number of registrations across India under PM Kisan Maandhan Yojana by the end of 2020.