Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN)

Introduction:

The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) is a flagship scheme of the Government of India that was launched on February 24, 2019. The scheme aims to provide financial support to farmers by providing them with a fixed income of Rs 6,000 per year. The scheme has been instrumental in improving the financial condition of small and marginal farmers across the country.

Objective of PM-KISAN:

The primary objective of the PM-KISAN scheme is to provide direct financial assistance to farmers to support their income and livelihoods. The scheme aims to ensure that farmers have access to a minimum fixed income, which will help them in meeting their agricultural and household expenses. The scheme also aims to support farmers in meeting their credit requirements and invest in their farms to increase their productivity.

Eligibility Criteria for PM-KISAN:

The PM-KISAN scheme is applicable to all farmers in India, irrespective of their landholding size. However, there are certain eligibility criteria that must be met to avail of the benefits of the scheme. Farmers who meet the following criteria are eligible for the scheme:The farmer should be an Indian citizen.
The farmer should have a valid Aadhaar number.
The farmer should have a bank account linked to their Aadhaar number.
The farmer should be a small or marginal farmer who owns less than two hectares of land.

Benefits of PM-KISAN:

The PM-KISAN scheme has numerous benefits for farmers across the country. Some of the key benefits of the scheme are:Financial Assistance: Farmers receive financial assistance of Rs. 6,000 per year in three equal installments of Rs. 2,000 each. This amount is directly transferred to the farmer’s bank account through Direct Benefit Transfer (DBT).
Income Support: The scheme provides income support to small and marginal farmers who face financial difficulties due to crop failure, natural disasters, or other unforeseen circumstances.
Increased Farm Productivity: The scheme enables farmers to invest in their farms, buy seeds, fertilizers, and other inputs, which can help increase their farm productivity and improve their livelihoods.
Reduced Dependence on Moneylenders: The scheme reduces the dependence of farmers on moneylenders and other informal sources of credit.
Improved Financial Inclusion: The scheme promotes financial inclusion by encouraging farmers to open bank accounts and link them with their Aadhaar numbers.

Conclusion:

The PM-KISAN scheme has been instrumental in improving the financial condition of small and marginal farmers in India. The scheme has provided much-needed financial assistance to farmers, enabling them to invest in their farms, increase their productivity, and improve their livelihoods. The scheme has also helped in reducing the dependence of farmers on moneylenders and other informal sources of credit. The government’s efforts to promote financial inclusion through the scheme have been successful in ensuring that farmers have access to formal credit and banking services. Overall, the PM-KISAN scheme has been a game-changer for the agricultural sector in India, and its impact will be felt for years to come.