India’s farmers play a central role in ensuring the country’s food security and sustaining the rural economy. Recognising their contribution, the government under Prime Minister Narendra Modi has continued to focus not only on improving farmers’ incomes and agricultural productivity, but also on strengthening their social security and financial well being. A significant example of this approach is the Pradhan Mantri Kisan Maandhan Yojana (PM-KMY), which completed seven years in September 2026. Launched on September 12, 2019, the scheme is designed to provide old age financial security to eligible small and marginal farmers.
Under PM-KMY, eligible farmers between 18 and 40 years of age with cultivable landholdings of up to two hectares, can join the voluntary and contributory pension scheme. After attaining the age of 60, beneficiaries are assured a minimum monthly pension of ₹3,000. The scheme follows a shared contribution model in which the central government makes a matching contribution to the farmer’s contribution.
The scale of participation indicates the growing reach of the initiative. It is interesting to note that 24,96,252 farmers had enrolled under PM-KMY by February 6, 2026. Haryana had around 5.75 lakh enrolments, while Bihar had more than 3.46 lakh. Uttar Pradesh and Jharkhand had each crossed 2.5 lakh enrolments. The government’s contribution to the scheme has also been substantial. As of February 2026, ₹540.66 crore had been utilised nationwide for the implementation and outreach of PM-KMY since its launch.
What makes the initiative particularly significant is that it looks beyond the farmer’s productive years. Agriculture is an occupation marked by uncertainty, hard work and dependence on several factors including weather and market conditions. For small and marginal farmers, building adequate financial security for old age can be challenging. PM-KMY seeks to address this concern by creating a pension safety net for their later years.
The scheme also extends protection to the farmer’s family. In the event of the subscriber’s death after pension commencement, the spouse is entitled to a family pension equivalent to 50 percent of the subscriber’s pension, or ₹1,500 per month, subject to the scheme’s conditions. Another important feature is the relatively simple enrolment mechanism. Eligible farmers can register through Common Service Centres using their Aadhaar, bank account details and mobile number. Contributions can be made monthly, quarterly, four-monthly or half-yearly, providing flexibility to farmers according to their financial circumstances.
The PM-KMY therefore represents a broader dimension of the government’s farmer-centric approach under Prime Minister Narendra Modi. The focus is not limited to agricultural production but extends to the long term financial security and dignity of farming families.
Over the years, several government initiatives have sought to address different dimensions of farmers’ welfare. PM-KMY adds an important social-security component by recognising that the welfare of farmers must also include security after their working years. The seven year journey of PM-KMY demonstrates a sustained policy effort to bring small and marginal farmers within a formal pension framework. With nearly 25 lakh enrolments recorded by February 2026, the scheme has established a nationwide footprint.
For a country whose food security rests heavily on the dedication of its farming community, providing farmers with greater financial security in their later years is an important part of ensuring that their contribution is recognised with dignity. PM-KMY reflects this continuing emphasis on the well-being of farmers and their families.
