Pradhan Mantri Kisan Samman Nidhi Yojana- An overview
Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan) is a government-run initiative that aims to provide financial aid to small and marginal farmers in India. Launched in February 2019, PM-Kisan Yojana is an attempt to support the farming community and augment their income. The scheme provides a financial benefit of INR 6000 to eligible farmers every year.
Eligibility Criteria: To avail benefits under PM-Kisan Yojana, the farmer has to meet the following eligibility criteria:
1. The farmer must be a citizen of India.
2. The farmer must own land (less than two hectares) or work as a laborer in farming.
3. The farmer must have an active bank account.
4. The farmer must have a valid Aadhar Card or alternative documentation.
Benefits: The primary objective of the PM-Kisan Yojana is to augment the income of the farmers. The scheme offers direct benefit transfer of INR 6000 annually to each eligible farmer. The financial assistance is provided in three equal installments, credited to the beneficiary’s bank account every four months.
The benefits offered under PM-Kisan Yojana help farmers in multiple ways:
1. Financial stability: Farmers who receive financial assistance can use it to pay for inputs such as seeds, fertilizers, and pesticides, which are crucial for crop management.
2. Increase in Agricultural Production: With the help of financial assistance, farmers can purchase the necessary inputs, thereby increasing the yield per hectare.
3. Support for Marginal Farmers: Most marginal farmers do not have access to institutional credit or insurance services. The PM-Kisan yojana has provided a ray of hope for them by providing direct financial assistance.
4. Social security: The PM-Kisan Yojana has provided social security benefits to farmers who were earlier forced to migrate to cities in search of work due to poor agricultural income.
Implementation and Budget: The Union Government allots an annual budget of INR 75,000 crores for PM-Kisan Yojana. The scheme is being implemented by the Ministry of Agriculture and Farmers Welfare. The government has used a digitized platform called PM-Kisan Portal to ensure smooth implementation of the scheme.
Conclusion: The agriculture sector plays a significant role in the Indian economy, employing the majority of the rural population. The PM-Kisan Yojana is an attempt by the government to support small and marginal farmers, who have faced numerous adversities, including rising input costs, natural calamities, and climate change. The scheme has provided significant financial assistance to farmers across India, and it is hoped that the initiative will help improve the livelihood of farmers and sustain agricultural production in the country.