Ministry of Agriculture and Farmers' Welfare has initiated today the process of registration for the Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY), the old-age pension to all Small and Marginal Farmers in the country as per the first hundred-day target given by the Prime Minister.
Union Minister for Narendra Tomar said that around 418 farmers have registered their names with Common Service Centres in different states during the first hour of the launch at 11 am today and the process is expected to pick up in due course of time.
The scheme would be formally inaugurated as per the convenience of Prime Minister Narendra Modi shortly, he said while speaking to media persons in New Delhi today.
The Minister said the target for the Prime Minister's Kisan Yojana has been fixed at reaching out to 10 crore farmers this year and the remaining farmers will be covered in due course of time.
Over 5.86 crore farmers have been paid the first instalment while 3.39 crore farmers have been paid the second instalment of the annual financial support of 6,000 rupees depending on the time of registration, he added.
Under the PM-KMY, a new Central Sector Scheme, a monthly pension of 3,000 rupees will be provided to the eligible farmers with up to two acres of land-holding on attaining the age of 60years.
It is a voluntary and contributory pension scheme for the farmers in the entry age group of 18 to 40 years. The farmers will have to make a monthly contribution ranging from 55 to 200 rupees depending on their age of entry in the Pension Fund till they attain the age of 60 years.
The Central Government will also make a contribution of an equal amount in the fund. The spouse is also eligible to get separate pension of 3,000 rupees per month upon making separate contributions to this fund.
The beneficiary could also opt-out of the scheme after a minimum period of five years of regular contribution. (AIR NEWS)