New Delhi : In a move to help small and marginal farmers, the Ministry of Agriculture on Friday started registration for the Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY), one of Prime Minister Narendra Modi’s flagship schemes, across the country.Under the PM-KMY, which was announced during the Budget 2019-20, a monthly pension of Rs 3,000 will be provided to eligible farmers on attaining the age of 60. The scheme will be implemented across the country, including Jammu & Kashmir and Ladakh. Announcing the launch of the scheme, Union Agriculture Minister Narendra Singh Tomar said that the PM-KMY registration process has commenced across the country from Friday. “Till Friday noon, 418 farmers have registered and I request more farmers to join the scheme,” Tomar said.Farmers, who attained 18 years, will have to contribute Rs 55 per month while similar amount will be contributed by the Centre. Those who are 29 years old will have to contribute Rs 100 per month while those who are 40 will have to contribute Rs 200 per month. Farmers will have to pay Rs 30 to common service centre for enrolment in the scheme. PM-KMY aims to help them live a healthy and happy life after they reach their old age.Farmers holding up to 2 hectare farm land will be eligible for the PM-KMY scheme. It is a voluntary and contribution-based pension scheme for farmers in the age group of 18 to 40 years, he said adding the scheme is meant for small farmers and therefore there is a landholding limit. Highlighting the key features of the scheme, the Minister said the spouse is also eligible to get a separate pension of Rs 3,000 upon making separate contribution to the fund. In case of death of the farmer before the retirement date, the spouse may continue with the scheme.If the spouse does not wish to contribute, the total contribution made by the farmer along with interest will be paid to the spouse. In the absence of any spouse, total contribution along with interest will be paid to the nominee.If the farmer dies after the retirement date, the spouse will receive 50 per cent of the pension as family pension. After the death of both the farmer and spouse, the accumulated corpus will be credited back to the pension fund.The beneficiaries may opt voluntarily to exit the scheme after a minimum period of five years of regular contributions. On exit, their entire contribution will be returned by pension fund manager Life Insurance Corporation (LIC) with an interest equivalent to prevailing saving bank rates.The Minister further said that the farmers, who are also beneficiaries of the PM-KISAN scheme, will have the option to allow their contribution debited from the benefit of that scheme directly. As many as 5, 88,77,194 and 3,40,93,837 farmers’ families have availed 1st and 2nd instalments respectively under the PM-Kisan Scheme,” the Minister added.
