Govt opens registration for PM Kisan Maan Dhan Yojana; sets target of 10 crore beneficiaries for this year

New Delhi: The government on Friday opened registration for the PM Kisan Maan Dhan Yojana scheme under which farmers will get a monthly pension of Rs 3000 on attaining the age of 60 years.

Addressing a press Conference in Krishi Bhawan, New Delhi, Union Minister for Agriculture & Farmers Welfare Narendra Singh Tomar said that under the Pradhan Mantri Kisan Samman Nidhi the target of 10 crore beneficiaries for this year will be achieved.

The Minister added that till date, 5, 88,77,194 and 3,40,93,837 farmers’ families have availed 1st and 2nd instalments respectively under the PM-Kisan Scheme.

The scheme is voluntary and contributory for farmers in the entry age group of 18 to 40 years and a monthly pension of Rs 3000 will be provided to them on attaining the age of 60 years. The farmers will have to make a monthly contribution of Rs 55 to Rs 200, depending on their age of entry, in the Pension Fund till they reach the retirement date i.e. the age of 60 years.

The spouse is also eligible to get a separate pension of Rs 3000 upon making separate contributions to the Fund. The Life Insurance Corporation of India (LIC) shall be the Pension Fund Manager and responsible for Pension pay out.