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Question

Difficulty: MediumSocial Sector Initiatives, Welfare Schemes, and Social Security Architecture

Consider the following statements regarding the Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY):

1. It is a Centrally Sponsored Scheme administered by the Ministry of Rural Development.
2. Small and Marginal Farmers (SMFs) holding cultivable land up to 2 hectares, in the age group of 18 to 40 years, are eligible to join the scheme.
3. Beneficiaries are entitled to receive an assured minimum monthly pension of ₹3,000 upon attaining the age of 60 years.

Which of the statements given above are correct?

  1. A
    1 and 2 only
  2. 2 and 3 onlyAnswer
  3. C
    1 and 3 only
  4. D
    1, 2 and 3

Answer

Statements 2 and 3 are correct. PM-KMY is a Central Sector pension scheme for Small and Marginal Farmers aged 18 to 40 holding up to 2 hectares of cultivable land, providing a guaranteed monthly pension of ₹3,000 from age 60.
The combination specifying statements 2 and 3 is correct. PM-KMY is a voluntary old-age pension scheme for small and marginal farmers owning up to 2 hectares of cultivable land. Eligible entry age is 18 to 40 years, and it assures a monthly pension of ₹3,000 after attaining 60 years of age. Statement 1 is incorrect because it is a Central Sector Scheme implemented by the Ministry of Agriculture and Farmers Welfare.

Step-by-Step Solution

1
Evaluate Statement 1 regarding Nodal Ministry and Scheme Type
Statement 1 is incorrect.
Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY) is a 100% central sector scheme implemented by the Department of Agriculture, Cooperation and Farmers Welfare (Ministry of Agriculture and Farmers Welfare) in partnership with LIC, not the Ministry of Rural Development.
2
Evaluate Statement 2 regarding Target Beneficiaries and Entry Age
Statement 2 is correct.
The scheme targets Small and Marginal Farmers (SMFs) who own cultivable land up to 2 hectares as per land records of the concerned State/UT, with an entry age of 18 to 40 years.
3
Evaluate Statement 3 regarding Social Security Pension Benefit
Statement 3 is correct.
Upon reaching 60 years of age, enrollees get a fixed monthly pension of ₹3,000, funded via matching equal monthly contributions by the subscriber and the Central Government.

Key Concept

Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY) Social Security Framework
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Topics

Social Sector Initiatives, Welfare Schemes, and Social Security Architecture