As a part of the government’s initiative to empower farmers and boost agriculture, the Prime Minister Kisan Samman Nidhi Yojana (PM-Kisan) was launched in February 2019. The scheme aims to provide financial assistance to small and marginal landholding farmers in India.
Under the scheme, eligible farmers receive an installment of Rs. 6,000 per year directly into their bank accounts in three equal installments of Rs. 2,000 each. The initiative is expected to benefit over 14 crore farmers across the country and provide them with a steady source of income to support their agricultural activities.
To qualify for the scheme, a farmer must own less than two hectares of cultivable land and fulfill other eligibility criteria. The scheme allows the beneficiary farmers to use the financial aid for a range of agricultural purposes like purchasing seeds, fertilizers, paying rent for agricultural equipment or to meet any other farming-related needs.
PM-Kisan Yojana is implemented by the Ministry of Agriculture and Farmers Welfare, Government of India. The scheme’s primary objective is to provide immediate and direct relief to farmers who struggle with income insecurity and lack access to credit facilities. This is particularly important for small and marginal farmers who often depend on farming for their livelihoods and have limited financial resources. The initiative is expected to provide significant support to these farmers and help boost agricultural production in the country.
Furthermore, the scheme encourages sustainable agriculture practices in India and promotes the use of technology in the sector. It also helps to ensure that the benefits of the scheme reach the intended target audience by implementing a robust digital monitoring system. The government has also developed a PM-Kisan mobile app to help farmers track their payments and get real-time updates about the scheme.
The Prime Minister Kisan Samman Nidhi Yojana is a step towards transforming agricultural practices and empowering the small and marginalized farmers of India. Through this initiative, the government aims to provide a safety net to these farmers, which will help them focus on improving their agricultural yields and becoming more self-sufficient.
Overall, the scheme has been widely appreciated by farmers, industry experts and analysts and is likely to play a key role in boosting agricultural growth and development in the country.