Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan) is a government scheme launched to provide financial assistance to small and marginal farmers across India. The scheme was launched in February 2019 with the aim of addressing the financial distress faced by farmers and ensuring their welfare.
Under this scheme, farmers who own up to 2 hectares of land are eligible to receive an income support of Rs. 6,000 per year in three installments. The money is directly transferred to the beneficiaries’ bank accounts. The scheme is fully funded by the central government and is expected to benefit approximately 145 million farmers across the country.
The scheme is designed to provide direct income support to farmers and help them meet their financial needs for agricultural inputs such as seeds, fertilizers, pesticides, irrigation, etc. The scheme aims to encourage investment in agriculture and help farmers improve their productivity and income.
The PM-Kisan scheme is an important step towards ensuring the financial well-being of farmers in India. With agriculture being the primary source of livelihood for a majority of the population, the government’s support through this scheme is essential. It is expected to provide relief to farmers who have been facing financial distress due to the challenges in agriculture, such as unpredictable weather, low crop prices, and rising input costs.
The scheme has been successful in providing financial assistance to farmers, and the government has already disbursed around Rs. 92,000 crores to beneficiaries under this scheme. The scheme has also been expanded to include all farmers, regardless of their land holdings, to ensure wider coverage and inclusivity.
In conclusion, the PM-Kisan scheme is an important initiative by the government of India to support small and marginal farmers. It is expected to provide direct income support to farmers and help them improve their productivity and income. The scheme is a significant step in ensuring the welfare and financial stability of farmers in India.