Pradhan Mantri (PM) Kisan Pension Yojana 2019-20


Pradhan Mantri (PM) Kisan Pension Yojana 2019-20 [List, Eligibility, Application form, SBI, PNB, Apply Online]

Newly elected PM Narendra Modi has declared a new pension scheme along with other cabinet members. The scheme is known as Pradhan Mantri Kisan Pension Yojana. According to the declaration of the scheme, farmers would get a pension monthly basis after they attain the age of 60 years. This voluntary scheme benefits would be given to farmers all across India.

pm kisan pension yojana

Launch Details of the scheme

Name of the scheme PM Kisan Pension Scheme
Benefits of the scheme are Pension to Farmers 
Beneficiaries of the scheme are Small and marginal farmers in India
Scheme has been announced by Government of India 
Date of scheme launch is Not yet Launched
Pension Amount 3000/month
Announced by Agriculture Minister Narendra Singh Tomar

 What are the objectives of the scheme?

  • By effective implementation of the scheme, Government of India can provide social security to farmers. The benefits decided under the scheme will be given to farmers after they attain the age of 60 years.
  • The scheme benefits will help the old farmers of India to live with dignity and get some money for their living from the scheme. However, this will be applicable both for marginal and small farmers.

Therefore, with this scheme, it would help to improve the condition and dignity throughout the country. So, the extension of the above-said scheme would be of immense help for farmers all over India.

Benefits to get from the scheme

  • Farmers would get a pension for rupees 3000 per month after they attain the age of 60. So, at the time of application farmers have to provide relevant document in support of their claim.
  • In the case of the farmer’s death, 50% of the scheme benefit will be given to the farmer’s spouse. For this, farmer’s family details should be submitted to avail the required benefits.

What is the eligibility criterion of the scheme?

  • Small and medium farmers – Only the small and medium farmers are allowed to apply for this scheme across India. However, near about 5 crore farmers would be benefitted from the scheme.
  • Age limit – The farmers who belong to the age group of 18 to 40 years can apply to get benefits under the scheme. They would start to get the benefits after the age of 60 years.

What are some of the highlights of the scheme?

  1. Within the first three years of scheme implementation, Central Government promises to cover up almost 5 crore farmers by equal contribution of Government in farmer’s pension fund.  Pension will be given to farmers who opt for it as per rules of this voluntary scheme.
  2. The farmers who opted for the benefits of the scheme will have to pay a limit of premium every month. If someone joins the scheme at the age of 18, then he will have to pay the premium of 55 rupees every month for 60 years. If the scheme starts at the age of 29, then it will be given 100 rupees per month.
  3. The amount to be given by the farmer can be done using the amount received under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). However, equal contribution will be made both by farmers and Government of India.
  4. Government of India has promised to make an equal contribution for all enrolled farmers.So, as per the rules of the scheme, rupees 10,774.5 crores will be given by the government for the welfare of Indian farmers.

Application process Form Online

No applications under this scheme have been started yet. As soon as the Cabinet declares for application under PM KISAN Pension scheme, the beneficiaries will be the first one to know about it from the official website of the scheme. So, for this, the interested farmers should visit the official website to stay updated about application related information.

Therefore, under the supervision of Union Cabinet, the PM-KISAN scheme has been extended for all needy farmers across India. Further, it can be said that a total of 14.5 crore farmers will be benefitted from this scheme. Previously, the scheme benefits were only available to marginal and small farmers but now Indian govt extend criteria, Government aims to improve the welfare of farmers across India. So, this landmark decision by the Government of India who helps farmers to maintain a life of dignity after they reach old age.  

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 Posted by at 7:22 am

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