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Pradhan Mantri Kisan Samman Nidhi Yojna: Boosting the income of farmers
The government of India, in February 2019, launched the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojna to provide financial assistance to farmers. The scheme aims to enhance the income of farmers and support their livelihood by providing them with a direct income support of Rs. 6000 per year.
Under this scheme, the Central Government transfers the money directly to the bank accounts of eligible farmers. The scheme is a push to ease the financial burden on small and marginal farmers who are dependent on agriculture for their livelihood.
Eligibility criteria for the PM-KISAN scheme
To be eligible for the PM-KISAN scheme, farmers must fulfill the following criteria:
– Must be a resident of India
– Must be a farmer
– Must own or cultivate land
– Must have at most 2 hectares of cultivable land
– Should not be a holder of higher public offices like a minister or an MP
– Should not be an income tax payer
– Should not be a recipient of Central or State government pension
The scheme initially targeted around 12 crore farmers across the country. However, after its first year of implementation, it has been expanded to cover 14 crore farmers.
Benefits of the PM-KISAN scheme
The PM-KISAN scheme is beneficial to farmers in several ways. These benefits include:
1. Financial assistance for farmers
The primary benefit of the PM-KISAN scheme is providing financial assistance to farmers. The scheme will help small and marginal farmers to meet their day-to-day expenses and support their livelihoods.
2. Reduced financial burden on farmers
With direct cash transfers, the scheme will reduce the financial burden on farmers, who often resort to borrowing to meet their expenses.
3. Increased investment in agriculture
The PM-KISAN scheme is likely to increase the investment in agriculture because farmers would have more disposable income to invest in their farms.
4. Encourages crop diversification
The scheme encourages farmers to diversify their crops as they will have more economic security to experiment with different crops.
Conclusion
The PM-KISAN scheme has brought some relief to farmers who are the backbone of the Indian economy. The scheme is expected to boost the income of small and marginal farmers, which will ultimately lead to the growth of the agriculture sector in the country. This scheme is a great initiative to support the livelihoods of farmers and it is hoped that it will be implemented effectively to achieve its desired outcomes.