PM Kisan Samman Nidhi Yojana is a government scheme that was launched on 1st December 2018 by the Prime Minister of India, Narendra Modi. The main objective of this scheme is to augment the income of the farmer community of the country by providing them financial assistance. The financial assistance is given to the farmers in the form of a direct transfer of Rs 6,000 per year for their agriculture land holdings. This scheme is implemented by the Central Government through the State Governments and Union Territories.
The eligibility criteria for the scheme includes small and marginal farmers who own cultivable land up to two hectares. The benefit of the scheme is provided through direct transfer to the bank accounts of the farmers in three equal installments every year. This initiative is regarded as a major step towards making agriculture a profitable business and improving the standard of living of farmers.
The government has recently announced the payment of the ninth installment under the PM Kisan Samman Nidhi Yojana. According to the latest status, a total of Rs 19,000 crore was transferred to the bank accounts of more than 9.5 crore farmers across the country under the scheme. The 9th installment was released on 9th August 2021, covering a period of December 2020 to May 2021. The scheme has benefitted the farmers from all states and Union Territories of the country.
The PM Kisan Samman Nidhi Yojana aims to provide timely and adequate financial support to the farmers for meeting their farming needs such as purchasing inputs, seeds, fertilizers, and other related expenses. This scheme has been instrumental in improving the economic condition of small and marginal farmers in the country. The scheme has also provided a much-needed cushion to the farmers during the ongoing COVID-19 pandemic crisis.
To conclude, PM Kisan Samman Nidhi Yojana has made significant progress towards the goal of increasing the income of farmers. The government has successfully implemented the scheme and has been consistently transferring the financial assistance to farmers. This initiative has benefitted millions of farmers across the country and has empowered them to take up cultivation with renewed enthusiasm. The PM Kisan Samman Nidhi Yojana is a great example of how a well-designed government scheme can lead to the betterment of the socio-economic conditions of the country.