Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) is a program launched by the Government of India in February 2019, aimed at providing financial assistance to small and marginal farmers.
Under this scheme, farmers holding up to two hectares of land are eligible to receive a direct cash transfer of Rs. 6,000 per year in three equal installments. The scheme aims to cover around 90 million farmers across the country, providing them with much-needed financial support to meet their agricultural needs.
The funds are transferred directly to the beneficiaries’ bank accounts through the Direct Benefit Transfer (DBT) system. This ensures transparency, eliminates any middlemen, and prevents leakages or delays in reaching the beneficiaries.
To avail of the PM-KISAN scheme, farmers have to register themselves on the PM KISAN portal using their Aadhaar number, bank account details, and other basic information. Once the registration is complete, the government verifies the details and sanctions the amount to the bank account of the beneficiary.
The initiative is a step towards doubling farmers’ income by 2022, which is a key priority of the government. It aims to reduce the burden on farmers and enable them to invest in farm infrastructure, purchase high-quality seeds, and other farming inputs, leading to an increase in crop yields.
The PM-KISAN scheme has already made a significant impact on farmers’ lives across the country. Its successful implementation has helped farmers combat the challenges posed by various factors, including weather conditions, fluctuating market prices and income generation.
In conclusion, the PM-KISAN scheme is a prominent initiative by the Indian Government aimed at supporting farmers in the country. It is a significant step in ensuring the economic empowerment of small and marginal farmers who constitute a significant part of India’s rural economy. The scheme is a great initiative that provides direct assistance to farmers, is transparent, and reduces the possibility of corruption in the system.