Pradhan Mantri Kisan Samman Nidhi Yojana, often referred to as PM-KISAN, is a government scheme launched in India to provide financial assistance to farmers. The scheme was announced in the Interim Budget of 2019 by the Union Minister for Finance and Corporate Affairs, Shri Piyush Goyal. The scheme aims to provide income support to small and marginal farmers of the country who own up to two hectares of land.
Under this scheme, eligible farmers receive a direct payment of Rs. 6,000 per year in three installments of Rs. 2,000 each. The government disburses the installment directly to the bank account of the beneficiaries through Direct Benefit Transfer (DBT).
The eligibility criteria for the PM-KISAN scheme are simple. Any farmer who owns up to two hectares of cultivable land is eligible for the scheme. The land should be owned by the farmer or the farmer’s family, and not leased or rented. Pensioners, serving and retired government employees, and professionals such as doctors, engineers, and lawyers are not eligible for the scheme.
The scheme seeks to provide financial assistance to farmers to augment their income for investment and support their financial needs for agricultural inputs. The scheme also aims to reduce the farming distress being faced by small and marginal farmers by providing them with an assured income.
The total budget provision for the PM-KISAN scheme in Union Budget 2021-22 is Rs. 65,000 crore. The government aims to reach out to around 14 crore beneficiaries under the scheme. As the scheme is targeted at the small and marginal farmers of the country, it is expected to benefit a significant section of the rural population.
In conclusion, the Pradhan Mantri Kisan Samman Nidhi Yojana is a much-needed initiative by the government to provide financial assistance to the farmers of the country. By providing a direct payment of Rs. 6,000 per year to the beneficiaries, the scheme aims to reduce farming distress and augment the income of small and marginal farmers. The scheme is expected to benefit a significant portion of the rural population and provide impetus to the agricultural sector of the country.