New Delhi: Union Minister Narendra Singh Tomar on Tuesday informed the Lok Sabha that over 18 lakh farmers have registered themselves under the Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY).
“The Scheme aims to cover around 3 crore beneficiaries. As of November, 14 — 18,29,469 farmers in the country have been registered under the Scheme, including 61,496 farmers of Gujarat,” Tomar said in a written reply in Lok Sabha today.
Under this Scheme, a minimum fixed pension of Rs.3,000/- is provided to the eligible small and marginal farmers, subject to certain exclusion clauses, on attaining the age of 60 years. It is a voluntary and contributory pension scheme, with entry age of 18 to 40 years.
“The beneficiary can opt to become a member of the Scheme by subscribing to a Pension Fund managed by the Life Insurance Corporation of India (LIC). The beneficiary is required to make a monthly contribution of between Rs.55/- to Rs.200/- to the Pension Fund, depending on the age of entry into the Scheme, with the provision of equal contribution by the Central Government. Exit from the scheme may be voluntarily or on the failure of contribution or on demise,” it said.
A budgetary provision of Rs.900 Crore has been made for the year 2019-20. There is no State-wise allocation of funds under the Scheme.
