Farmers Will Receive A Monthly Pension Of Rs 3000 Under The PM Kisan Maandhan Yojana By Depositing Rs 55/-

Indian Government has established many schemes for the welfare of farmers including PM Kisan Samman Nidhi, Kisan Samridhi Kendra, Kisan Credit Card, and Pradhan Mantri Krishi Sinchayee Yojana. Under PM Kisan Samman Nidhi, the farmers get Rs 6000 every year in three equal instalments of Rs 2000 each.

Whereas, under the Pradhan Mantri Kisan Maandhan Yojana, the central government is running a pension scheme to help the farmers meant for their old age protection.

Pradhan Mantri Kisan Maandhan Yojana or PMKMY is a government scheme launched for small and marginal Indian farmers. With the help of this scheme, the government wants to provide social and economic security to small farmers during their old age.

Farmers in the age group of 18-40 years can take advantage of this scheme. The notable thing is that only farmers with cultivable land up to 2 hectares are eligible for this pension scheme. If their names appear in the land records of the States/UTs, they will be deprived of these benefits

The farmers will get a minimum pension of Rs 3000 per month after crossing the age of 60 years under this scheme. If the farmer dies, the spouse of the farmer will be entitled to receive 50% of the pension as a family pension. Family pension is applicable only for spouses. Meanwhile, the offsprings are not eligible as beneficiaries of the scheme.

Applicants between the age of 18-40 years will have to make a monthly deposit of Rs 55 to Rs 200 monthly till the age of 60 years. However, after reaching the age of 60, the applicant will be eligible for the pension amount. After this, a fixed amount will continue to be deposited in his pension account every month.

Under this scheme, the government will also make an equal contribution. If the farmer is depositing Rs.100 monthly in the pension fund, then the government will also deposit Rs.100 monthly in it. So far, more than two crore farmers have opted for Pradhan Mantri Kisan Maandhan Yojana.

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