Laghu Vyapari Mandhan Yojana in J&K – Eligibility, Registration/Enrollment

After the scrapping of Article 370, the government is working its pace up for the Jammu and Kashmir state and also the government is ready to impose the Laghu Vyapari Mandhan Yojana in the Jammu and Kashmir state. So, the people of Jammu and Kashmir can avail of the benefits of the scheme. Under this article today we will provide you all the information about Laghu Vyapari Mandhan Yojana that will implement in the Jammu and Kashmir state in the upcoming year. We have provided the eligibility criteria of the scheme. We have also provided enrollment, the registration process of the PM Laghu Vyapari scheme for the state of Jammu and Kashmir in the year 2020.

Laghu Vyapari Mandhan Yojana in J&K

The condition of Jammu and  Kashmir state is very worse than all of the other states in our country. As we all know that no development is still taking place in Jammu and Kashmir. So after the scraping of article 370, the government has decided to create mobilization in the state of Jammu and Kashmir. However many schemes have been launched for the Jammu and Kashmir state recently and one such scheme is Prime Minister Laghu Vyapari Yojana. Prime Minister Laghu Vyapari Yojana will start in the Jammu Kashmir state in the upcoming year. Also as announced by the official authorities many service centers will be developed in the state so that people can get proper knowledge of the schemes.

Laghu Vyapari Mandhan Yojana

Benefits Under The Scheme

Many benefits are provided under the Pradhan Mantri Laghu Vyapari Mandhan Yojana. The list of benefits are as follows:-

  • The first and foremost benefit is on the maturity of the scheme, the beneficiaries will be entitled to obtain a monthly pension of Rs. 3000/-
  • The pension amount helps pension holders to aid their financial requirements.  The financial help will make the businessmen economically secure.
  • The scheme is a tribute to the workers in the Unorganized sectors who contribute around 50 percent of the nation’s Gross Domestic Product (GDP).
  • The applicants between the age group of 18 to 40 years will have to make monthly contributions ranging between Rs 55 to Rs 200 per month till they attain the age of 60.
  • Once the applicant attains the age of 60, he/ she can claim the pension amount.
  • Every month a fixed pension amount gets deposited in the pension account of the respective individual. Thus, the benefits will help the businessman secure social security through their goods and inventory.

Eligibility Criteria For The Scheme

To be eligible for the Pradhan Mantri Laghu Vyapari scheme in the state of Jammu and Kashmir, the applicant must follow the eligibility criteria given below :-

  • This scheme is only for self-employed shop owners, retail owners, and other vyaparis.
  • Age should be between 18 to 40 years
  • Annual turnover should not exceed Rs 1.5 crore.
  • Small Traders/Shopkeepers should register under GST.

Application Procedure For The Scheme

To apply for the Prime Minister Lagu Vyapari scheme for the state of Jammu and Kashmir, you need to follow these simple steps:-

  • First, the applicants need to visit the nearest Common Service Centre (CSC).
  • Before visiting the common services Centre the applicant should have the following documents kept ready –
    • Aadhaar Card
    • Savings Bank Account Number along with IFSC Code ( Bank Passbook or Cheque Leave/book or copy of bank statement as evidence of bank account )
  • A fee must be provided to Village Level Entrepreneur (VLE)
  • The VLE will link the Aadhar Card details to the application form.
  • Then the personal and bank details will be filled by the VLE
  • Auto calculation of monthly contribution payable according to age of the Subscriber will be done
  • Subscribers will have to pay the 1st subscription amount in cash to the VLE.
  • Enrolment cum Auto Debit mandate form will be printed and will be further signed by the subscriber.
  • VLE will scan the same and upload it into the system.
  • After Successful Enrollment, you will get a unique Kisan Pension Account Number (KPAN)
  • Keep the Enrollment Safe for future use.
Note:- In future when the central government will release any update regarding the implementation of Laghu Vyapari Yojana in Jammu & Kashmir we will update here. so stay with us for future queries.

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