PM Kisan Samman Nidhi Yojana is a government scheme launched in the year 2019, with a comprehensive aim to increase the income of small and marginal farmers. The scheme aims to provide financial assistance to these farmers to support their agricultural practices and prevent them from falling into a debt trap.
Under the scheme, the eligible farmers receive a direct cash transfer of Rs. 6000 annually. The amount is credited directly to the bank account of the beneficiary farmer in three instalments of Rs. 2000 each. The first instalment is paid between April and July, the second instalment is between August and November, and the third instalment is between December and March.
To be eligible for the scheme, the farmer must possess a piece of cultivable land. The size of the land is not a criterion, and the scheme is applicable to all farmers who own land irrespective of its size. The eligible land must be in the name of the farmer and should not be owned by any organization or company.
The scheme aims to support the farmers in multiple ways. Firstly, the direct cash transfer helps them in meeting their immediate economic needs. Secondly, the scheme provides an assured income to the farmers, which in turn can help them invest in their agricultural practices. This can lead to an increase in crop production and thus help in improving the agricultural practices of small and marginal farmers.
The scheme has been welcomed by the farming community across the country. The direct cash transfer helps in reducing the debt burden on farmers, which they usually take for their sustenance. It has also facilitated in improving the livelihood of farmers, thereby making agriculture more sustainable and profitable.
The PM Kisan Samman Nidhi Yojana has become a crucial support system for small and marginal farmers in the country. The direct cash transfers have provided them with the much-needed boost to their economic conditions, and the scheme is playing a pivotal role in providing financial stability to farmers in the country. The scheme has been extended till the year 2022, and it is hoped that it will continue to bring benefits to the farming community in the years to come.