As a part of the goal to double farmers’ income by 2022, the government of India launched the Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) in February 2019. The scheme aims to provide financial support to farmers by giving them an income of Rs. 6000 per year in three equal installments.
Under PM-KISAN, beneficiaries are identified from various sources including the land database of states, Aadhaar number, and some categories of farmers who may not have land records such as tenant farmers, sharecroppers, and eligible farmer families. All eligible farmers are entitled to avail of the benefits under the scheme.
To obtain the benefits, farmers need to enroll themselves in the scheme through their respective states or Union Territories. The enrollment process is completely online, and farmers can apply through the PM-KISAN portal or the Common Service Centers (CSC).
Once the application is submitted and verified, the first installment of Rs. 2000 is credited into the farmer’s bank account. The second and third installments are also credited on completion of six months after the first installment is credited.
The scheme has an annual budgetary provision of Rs. 75,000 crore, and it is expected to benefit around 14.5 crore farmers across the nation. The scheme includes farmers excluding institutional landowners, former and present holders of constitutional posts, and their families.
The scheme is a significant step towards addressing the issues of rural farmers and providing them financial support. It also helps them to access various other government welfare schemes, including crop insurance and soil health card. The PM-KISAN scheme has significant potential to bring about a transformation in rural India by providing financial security to farmers and reducing poverty in the agricultural sector.