Central govt. has launched Pradhan Mantri Karam Yogi Maandhan (PM-KYM) Scheme to provide assured monthly pension to retail traders and small shopkeepers. PMKYM universal social security scheme to provide Rs. 3,000 p.m to traders and shop owners as announced in Union Budget 2019-20. This pension amount under PM Karam Yogi Maan Dhan Scheme would be provided on attaining the age of 60 years. Around 3 crore retail traders and shop keepers would be benefited from PM Karmayogi Mandhan Yojana in India.
India has rich tradition of trade and commerce, so govt. is primarily focusing on traders betterment which is essential for India’s economic growth. This PM Karam Yogi Maandhan Scheme will ensure social security of small shop owners whose annual turnover is below Rs. 1.5 crore.
The primary objective of PM Traders Pension Scheme 2019 is to ensure robust architecture of universal social security.
Pradhan Mantri Karam Yogi Maandhan (PM-KYM) Scheme
Pradhan Mantri Karam Yogi Maandhan Scheme has been launched to cover all small shopkeepers and traders with turnover below Rs. 1.5 crore. Here are the features and highlights of PM Modi Retail Traders & Shopkeepers Pension Scheme:-
- Under PM-KYM Pension Scheme, all shopkeepers, retail traders and self-employed persons would be provided with an assured minimum monthly pension of Rs. 3,000.
- All the traders and small shop owners across the country are entitled for this pension benefits on attaining the age of 60 years.
- All PM Karam Yogi Maan Dhan Scheme beneficiaries must have annual turnover less than Rs. 1.5 crore.
- The age of the Pradhan Mantri Karmayogi Mandhan Yojana beneficiary must lie between 18 to 40 years.
- PM Retail Trader’s Pension Scheme will cover 3 crore small shopkeepers and retail traders.
Documents Required for PM Karam Yogi Mandhan Scheme – PMKYM scheme is based on self-declaration as no documents are required except Aadhaar and bank account.
Need for PM Karam Yogi Maan Dhan Scheme
PM Modi has laid a pension architecture for trading community to assure a life of dignity, honour and to provide them with financial security during their old age. This retailers pension scheme named PM Karam Yogi Maan Dhan Scheme is another major welfare step for the betterment of traders, small and medium business. Simplification of GST process, Mudra loans, easy business loans upto Rs. 1 crore are some of the other welfare measures for retail traders and small shop keepers.
How to Apply for Pension – PM Karmayogi Mandhan Yojana
All the interested people can enrol themselves for Pradhan Mantri Karmayogi Mandhan Yojana through more than 3,25,000 Common Service Centres (CSCs) spread across the country. Central govt. is going to make matching contribution in the subscribers account. For example – if person of 29 years age contributes Rs. 100 per month, then central govt. would contribute equal amount as subsidy into subscribers pension account every month.
PMKYM Pension Scheme for Retail Traders & Small Shopkeepers Approval
In the 1st cabinet meeting of Modi 2.0, govt. has cleared new PMKYM Pension scheme for retail traders and small shopkeepers. In order to know more about the PM Karam Yogi Maan Dhan Scheme approval, click the link given below:-
Pradhan Mantri Karmayogi Mandhan Yojana Approval
CCEA led by PM Narendra Modi in its 1st meeting has also taken some other major decisions:-
— PM Kisan Samman Nidhi Yojana expansion for all
— PM Scholarship Scheme (PMSS) Assistance Raised
— Pradhan Mantri Kisan Pension Yojana