The PM Kisan Samman Nidhi Scheme is a government initiative aimed at providing financial assistance to small and marginal farmers in India. Launched in February 2019 by Prime Minister Narendra Modi, the scheme aims to provide direct income support to farmers to enable them to meet their expenses and invest in their agricultural activities.
Under the scheme, eligible farmers receive an income support of Rs. 6,000 per year in three equal installments. The scheme is targeted towards farmers who own up to 2 hectares of agricultural land. The financial assistance provided under the scheme is directly transferred to the bank accounts of the beneficiaries through Direct Benefit Transfer (DBT) mode.
The PM Kisan Samman Nidhi Scheme has been lauded for its efforts to address the financial needs of small and marginal farmers who often struggle to make ends meet due to various challenges such as fluctuations in crop prices, adverse weather conditions, and lack of access to credit facilities.
The scheme has played a significant role in providing a reliable source of income for farmers, enabling them to improve their livelihoods and invest in their agricultural activities. It has also helped in reducing the financial burden on farmers and ensuring their economic well-being.
Overall, the PM Kisan Samman Nidhi Scheme has been instrumental in supporting the agricultural sector in India and empowering small and marginal farmers. It has not only provided much-needed financial assistance to farmers but has also contributed to the overall growth and development of the agricultural sector in the country.