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PM Kisan Maan-Dhan Yojana: Highlights

Published on Saturday, September 14, 2019
PM Kisan Maan-Dhan Yojana: Highlights
  • PM Kisan Maan-Dhan Yojna(PM KMDY) is a pension cover for all small and marginal farmers(SMFs) in the country, Union Ministry of Agriculture & Farmers Welfare has rolled out the registration of it, envisaged with an aim to improve the life of farmers. It is a voluntary and contributory scheme. PM Narendra Modi to launch the scheme in Ranchi on 12th September 2019. The PM KMDY scheme shall impact the lives of 5cr farmers by providing a minimum pension per month. The scheme has an outlay of Rs 10,774 cr for the next three years. LIC shall be the Pension Fund Manager and responsible for pension payout.

There are some key points of the scheme:


  • The age of farmers must be 18years to 40 years and
  • Owns cultivable land maximum of 2 hectares.
  • Spouse of a farmer is also eligible to get a separate pension of making separate contributions to the fund.


  • The farmers will have to contribute of Rs.55 to Rs.200, on the basis of age of entry, in the Pension Fund till they reach 60years of age.
  • They may also choose an option to pay their contribution on quarterly, 4-monthly or half-yearly basis.
  • The contribution of the farmer and the Central government will be equal in the fund.
  • This scheme provides an option to allow their (beneficiary) contribution debited from PM-KISAN scheme directly.

Benefits & Transfer of benefit:

  • Rs3000/month will be provided to them on attaining the age of 60years.
  • If the farmer dies before the retirement date, the spouse may continue in the scheme by paying the remaining contributions to the remaining age of the deceased farmer.
  • Total contribution with interest will be paid to the nominee, in the absence of a spouse.
  • If both the farmer and the spouse die, then the accumulated amount will be credited back to the fund.
  • If the spouse does not want to continue, then the total contribution made by the farmer along with interest will be paid to the spouse.
  • If a farmer dies after retirement, the spouse will get 50% of the pension.

Pull-out way:

  • After a minimum of 5 years of regular contributions, the beneficiary can leave the scheme.
  • Their entire contribution will be returned by implementing agency with an interest equivalent to prevailing saving bank rates.
  • There is no late fee would be charged until 1month from first unpaid contribution.


Q.1 PMKMDY is launched by PM Narendra Modi on 12th September 2019 in which city?
a) New Delhi
b) Mumbai
c) Ranchi
d) Mathura
e) None of these
Ans. Option (c)
Explanation: PM Narendra Modi launched PMKMDY in Ranchi, Jharkhand.

Q.2 Spouse will get_______ of pension, if beneficiary dies after retirement.
a) 25%
b) 50%
c) 75%
d) 100%
e) None of these
Ans. Option (b) 
Explanation: If the beneficiary dies after retirement then the spouse will get 50% of the pension as Family Pension. 

Q.3 A farmer can contribute in the scheme_______. a) Rs 60
b) Rs 100
c) Rs 150
d) Rs 200
e) All of the above
Ans. Option (e)
Explanation: The minimum and maximum limit of contribution are Rs. 55 to Rs. 200 respectively in PMKMDY scheme.

Q.4 A farmer can contribute the amount on_______.
a) Quarterly
b) 4-Monthly
c) Half-yearly
d) None of these
e) All of the above
Ans. Option (e)
Explanation: This scheme gives an option to pay monthly, quarterly,4-monthly and half-yearly. To make contribution easy.

Q.5 Beneficiary will get pension of Rs_______ per month after retirement.
a) 2000
b) 2500
c) 3000
d) 3500
e) None of these
Ans. Option(C)
Explanation: As PMKMDY promises a monthly pension of Rs. 3,000 which upon investment can be availed by the farmers after the age of 60.
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