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Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)

Home Saving Schemes List: Types, Interest Rates & Tenures Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)
Updated: 25-05-2022 11:08:23 AM

The Pradhan Mantri Kisan Samman Nidhi Yojana is a central sector scheme entirely funded by the Government of India. The scheme offers an income support of Rs.6,000 per year to all the farmer families. The amount is paid in installments of Rs.2,000, on a quarterly basis. 

The scheme was launched in December 2018 with the objective of augmenting the income of small and marginal farmers (SMFs) and supplementing the financial needs of these farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the estimated farm income at the end of each crop cycle.

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Features of PM-KISAN Yojana

  • The scheme claims to pay Rs.2000 every 4 months to the families of Indian farmers, which includes the farmer’s husband, wife and minor children who collectively own up to 2 hectares of land as per the records of the concerned State or UT
  • The funds are directly transferred to the bank account of the beneficiary
  • In order to enrol to the scheme, the farmer must approach the local Patwari, Revenue Officer or the Nodal Officer (PM-Kisan) nominated by the State Government
  • Additionally, the common service centers (CSCs) have also been given the authority to complete the registration process of the eligible farmers upon payment of the fees
  • It must be noted that the farmers also have the option of self-registering themselves and/or editing details like their names in the PM-Kisan database corresponding to their Aadhaar card through the Farmer’s Corner in the portal
  • On top of this, the portal also allows the farmers to know the status of their payment
  • Under this scheme, the farmers will have to contribute an amount between Rs.55 and Rs.200 per month in the Pension Fund till they reach the age of retirement, which is 60 years while the central government has claimed to make a similar contribution to the account.
  • Owing to this, the government will provide a pension of Rs.3000 to all the eligible and small farmers.

Eligibility Conditions

If you are an Indian farmer and wish to enroll for the Pradhan Mantri Kisan Samman Nidhi Yojana, you should NOT be any of the following-

  • Institutional land holder
  • Farmer family belonging with one or more members belonging to 
    • Former and present holder of constitutional post
    • Former and present Minister/State Minister/ member of Lok Sabha/ Rajya Sabha/ State Legislative Assembly/ Mayor of Municipal Corporation/Chairperson of District Panchayat
    • Serving or retired officer and employee of Central/State Government Ministry/Office/Department and its field units or Central or State PSEs and attached offices/autonomous institution under Government or regular employee of the local body
    • Superannuated or retired pensioners with a monthly of equal to or more than Rs.10,000
  • You should not have Income Tax in the last assessment year
  • Neither of the members of your family should be a professional Doctor, Engineer, Lawyer, Chartered Accountant, Architect registered with professional body or carrying out a similar profession by undertaking practices
  • The farmers who are between the ages of 18 and 40 are only eligible to join the scheme

Documents Required

While enrolling for opening an account you must furnish the following documents with the concerned authorities-

  • PAN Card
  • Identity Proof (Aadhaar Card or Voter ID Card)
  • Passport size photos
  • Birth Certificate
  • Bank Account details
  • Copy of account Passbook
  • Address Proof

Things to be Considered

  • In certain cases, if however, the farmer wishes to leave the scheme in between, he or she can do so and receive the contribution to the pension fund along with the interest
  • In case of death of the farmer, it is in the hands of the State or UT Government to identify the beneficiary farmer family
  • If the farmer dies after the retirement date, the spouse will receive 50% of the pension amount i.e. Rs.1500 per month as Family Pension
  • In case of death of the farmer before the retirement date, and if there is no spouse, the total contribution along with the interest will be paid to the nominee
  • Enrollment under the scheme is free of cost and the farmers are not required to make any payment for any purpose at the CSC centres
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