Title: Understanding Installment Details Under Kisan Samman Nidhi Yojana
The Kisan Samman Nidhi Yojana (KSNY), also known as the PM Kisan Yojana, was launched by the Government of India to support small and marginal farmers across the country. As a part of this scheme, eligible farmers receive a fixed income support of Rs. 6,000 per year, payable in installments. In this article, we will delve into the installment information under the Kisan Samman Nidhi Yojana and provide a comprehensive understanding of how it functions.
Under the Kisan Samman Nidhi Yojana, the income support of Rs. 6,000 is disbursed to eligible farmers in three equal installments of Rs. 2,000 each. These installments are distributed quarterly over the course of a financial year.
The disbursement of installments is carefully orchestrated by the Government of India to ensure that eligible farmers receive their entitlements in a timely manner. The government utilizes an extensive database maintained by the Ministry of Agriculture and Farmers Welfare, which aids in the identification of eligible farmers.
To ensure efficient fund transfer, the government relies on the Direct Benefit Transfer (DBT) mechanism. DBT ensures that the money is directly credited to the bank accounts of eligible beneficiaries. Farmers are, therefore, required to have an active bank account seeded with their Aadhaar card, which acts as a unique identification number.
To avail the benefits of installment disbursement under the Kisan Samman Nidhi Yojana, farmers need to meet certain eligibility criteria. The scheme is primarily targeted towards small and marginal farmers who own landhholdings up to 2 hectares.
Farmers falling within any of the following categories are not eligible for the scheme:
1. Institutional landholders.
2. Former and current holders of constitutional positions.
3. Current and former ministers and members of the Lok Sabha and Rajya Sabha.
4. Income tax payers in the previous assessment year.
The Kisan Samman Nidhi Yojana has made notable strides in supporting the financial stability of small and marginal farmers in India. With its systematic installment disbursement process, farmers now have the assurance of receiving timely financial support under this flagship government program. With the implementation of DBT, the scheme has become transparent, efficient, and reaches the intended beneficiaries effectively.