PM Karam Yogi Maandhan Yojana 2019-20

PM Karam (Karma) Yogi Maandhan Pension Yojana 2019-20 [Application Form Online Download, CSC, Eligibility, Pension Amount, Premium, List, FAQ]

In the Union Budget 2019, the Finance Minister has proposed to improve the condition of micro, small and medium enterprises sector. By this, small scale traders including shopkeepers will get pension benefits upon attaining 60 years of age. As per the eligibility criteria, the ones with less than rupees 1.5 crore revenue will get to avail the scheme benefits. The following part of the article will take you through other relevant details of the scheme.

Pradhan Mantri Karamyogi Mandhan Scheme

Launch details of pm karam yogi maandhan scheme

Name of scheme PM Karam Yogi Maandhan Yojana (PMKYMY)
Scheme has been launched by PM Narendra Modi
Launch date of scheme May 2019
Target group of scheme Small traders and shopkeepers
Benefits of scheme Pension scheme for shopkeepers of rupees 3000
Number of beneficiaries 3 crores
Application system for scheme  Online mode
Apply online Through 3.2 million CSC centers

 

What are the highlighting features of PM Karam Yogi Maandhan Yojana?

  1. Main aim of scheme –The main objective of the scheme is to provide pension facilities to shopkeepers of micro, small and medium enterprises sector after they attain the age of 60 years. For this, the above-said scheme has been proposed under PM Narendra Modi in budget 2019 by Finance Minister Nirmala Sitharaman.
  2. Target audience of the scheme – The target audience of the scheme is the small scale traders and shopkeepers who after attaining old age, often find it difficult to run their small shop. Near about 30 million small scale shopkeepers will be benefited from the scheme.
  3. Amount allotment of the scheme – With effective implementation of the scheme, the poor and old traders will get rupees 3000 on a monthly basis upon attaining 60 years.

What are the eligibility criteria and documents required in the PM Karam Yogi Maandhan Yojana?

  • Age limit – The minimum age limit is 18 years whereas the maximum one is 40 years. The traders have to produce relevant age certificate at the time of applying for online application for the scheme.
  • Pension amount – The pension money will be given to the shopkeepers only after they attain 60 years of age. They have to submit proper age proof document in support of their claim. However, half of the scheme beneficiary amount will be given  by the Modi government.
  • Identity proof– The traders have to provide their identity proof such as Aadhaar card, ration card or Voter ID card at the time of online registration. The Aadhaar card will be required to link with the beneficiary bank account.
  • Active bank account – The beneficiary amount of this scheme will be credited directly to an active bank account the shopkeeper. So they have to provide bank details like bank account number, IFSC code and other.
  • Premium amount for scheme – The 18 years old beneficiary have to give rupees 55 in the initial stage of the scheme. Upon attaining the age of 40, the amount will increase to rupees 200. However, only the traders with revenues less than rupees 1.5 crores will get scheme benefits. However, the same amount of money will be contributed by the government.

Details of online application procedure of PM Karam Yogi Maandhan Yojana

For online application registration under Pradhan Mantri Karma Yogi MaanDhan Scheme, the traders have to submit the nomination form from Common Visa Center. The interested person has to visit CSC center and submit their form for availing benefits of the scheme.

However, The VLE agent shall help you in submitting the application form online along with other relevant documents.

Other than this, no other detailed process of application form has been declared by the government officials. As soon as it comes, the interested candidates will be the first to know about it from the online portal of the scheme.

With effective implementation of the above-said scheme, the finance minister is planning to give the old traders a better old age to live in. along with this, it would create a platform through which traders can easily pay bills and save some time.

FAQs 

Q: What are the income criteria under the Pradhan Mantri Karam Yogi Maandhan Scheme?

Ans: For getting benefits under Pradhan Mantri Karam Yogi Maandhan Scheme, annual turnover is less than Rs 1.5 crore.

Q: What is the premium amount for the PMKYMY?

Ans: The premium amount for PMKYMY is rupees 3000 that will be given on a monthly basis to the beneficiaries under the scheme.

Q: What is the age limit for this pension scheme?

Ans: The entry age limit for the pension scheme is 18 years and the maximum limit for the same is 40 years. However, the scheme will start upon attaining the age of 60.

Q: Nominee facility is available or not?

Ans: Yes, if the candidate dies, beneficiary spouse will get 50 percent of the pension as family pension. Therefore, the family pension is applicable only to spouse.

Q: How Can I apply for the scheme?

Ans: For applying under the scheme, the candidate has to visit the Common Services Centers. Here, VLE agents shall help in filling the online application.

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Updated: July 12, 2019 — 6:36 am