PM Kisan Samman Nidhi
The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan Yojana) is an India government scheme that aims to provide minimum income support of up to Rs. 6000 to all small and marginal farmers per year. This sum is payable in three equal instalments of Rs. 2000 each every four months.
PM Kisan Samman Nidhi Yojana
It was first implemented as the Rythu Bandhu scheme by the Government of Telangana where a certain amount was handed directly to eligible farmers. Later, on 1 February 2019, during the 2019 Interim Union Budget of India, Piyush Goyal announced the implementation of this scheme as a pan India project.
The Government of India released the sixth instalment under this scheme on 9th August 2020, reaching nearly 8.5 crore farmers. As per its objectives, this initiative aims to benefit approximately 125 million farmers in India, particularly those of marginal or small stature.
Eligibility of PM Kisan Yojana
To understand the scheme in a better way, it is important to understand its essential features. families which qualify the given criteria are eligible for this Yojana:
- Small and marginal farmers are eligible for PMKSNY.
- Farmer families that hold cultivable land can apply for the benefits of this plan.
- A beneficiary should be an Indian citizen.
Alongside these, farmers from both rural and urban regions can be enlisted under the Pradhanmantri Kisan Samman Nidhi Yojana. However, its guidelines also exclude certain categories of individuals from its beneficiary list.
The Objective of PM Kisan Yojana
- To provide income support to all eligible land-holding farmers and their families.
- PM-KISAN scheme also aims to supplement the financial needs of the farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income.
- The scheme is expected to increase the coverage of PM-KISAN to around 14.5 crore beneficiaries. It aims to cover around 2 crores more farmers with an estimated expenditure of Rs. 87,217.50 crores that will be funded by the Central Government.
Advantages of PM Kisan Yojana
Following are the advantages of the PM-KISAN scheme –
- The DFT- direct transfer of funds is one of the biggest advantages of this scheme. On December 25, 2020, in the presence of PM Narendra Modi, Rs.18,000 crores were directly transferred to the bank accounts of 9 crore farmers
- It helps to record the official data related to farmers on a digital platform which has made registration and fund transfer easy. It indirectly promotes digitalisation in India.
- This scheme tackles the liquidity constraints of farmers
- modernisation of agriculture is also possible due to the PM-KISAN yojana
- There is no discrimination in choosing the PM-KISAN beneficiaries
FAQs Related to PM Kisan Samman Nidhi Yojana
Q 2. What are the benefits of the PM-KISAN Scheme?