Pradhan Mantri Kisan Samman Nidhi Yojna (PM-KISAN) is a scheme initiated by the Indian government to provide financial assistance to small and marginal farmers across the country. The government aims to supplement the income of farmers by providing direct income support of Rs. 6,000 annually through Direct Benefit Transfer farmers’ bank accounts.
The scheme was launched by Prime Minister Narendra Modi on February 24, 2019, in Gorakhpur, Uttar Pradesh, and the first installment was transferred on February 24, 2019, to beneficiaries in Uttar Pradesh.
Under the scheme, every eligible farmer’s family is entitled to receive the benefit of INR 6,000 per annum, payable in three equal installments of INR 2,000 each. The government allocated a budget of INR 75,000 Crore for the scheme for the financial year 2019-20. With the addition of INR 10,000 Crore in the Union Budget 2021-22, the scheme’s total budget increased to INR 85,000 Crore.
The eligibility criteria to register for PM-KISAN is that the farmers’ landholding should not exceed two hectares. The scheme is applicable for all farmers who possess Aadhaar cards. However, the scheme excludes farmers who fall under the Institutional Land Holder category.
To receive the benefit, farmers need to apply on the PM-KISAN portal or through Common Service Centres (CSCs). The farmer can also visit the nearest agriculture department or revenue office to register for the scheme. The beneficiaries receive the payment directly into their bank accounts through Direct Benefit Transfer.
One of the significant advantages of the scheme is the reduction in intermediaries between the government and the farmer, leading to transparency and quick disbursal of funds. The scheme aims to improve the socio-economic conditions of farmers and cater to a long-standing demand of the farming community.
The scheme has been widely accepted and hailed as an essential initiative undertaken by the government in the farming sector. The farmers have benefited significantly from the scheme, and it has provided them with some financial stability. As per the government, until May 31, 2021, over 11 Crore farmers have been registered, and around INR 1.15 Lakh Crore have been disbursed.
In conclusion, PM-KISAN is a path-breaking scheme that has the potential to uplift the economic conditions of farmers in the country. The scheme’s success depends on the proper implementation and reaching out to all eligible farmers in India.