The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan Scheme) is a landmark project launched by the government of India to provide financial aid to small and marginal farmers in the country. It commenced in December 2018 and was designed to provide a minimum income support of ₹6,000 per eligible farmer annually. Therefore, one of the goals of this scheme is to assist them in their basic agricultural requirements and to improve their creditworthiness at the same time.
Farmers will be required to check the PM Kisan status using Aadhar card so they are advised to get one as soon as possible to receive benefits under the scheme.
The objective of PM Kisan Scheme
Agriculture is a major player in India’s economic scenario, and farmers are the backbone of the rural economy. Despite their significance, many farmers find themselves in fiscal agony due to the developmental inequalities between urban and rural areas. This is a perennial problem in India, and it has been a major cause of concern for a large part of its population ever since independence.
To deal with this issue and raise the standard of living of the farming communities, the central and state governments have rolled out various schemes over the years. The scheme was, in particular, established to transfer financial aid directly to the accounts of the small and marginal farmers. Since its launch, the program has primarily been concerned with assisting these farmers with some funds, making it simpler for them to reinvest in agriculture and maintain their services.
History of the PM-KISAN Scheme
Modelling of the PM-KISAN scheme was a result of the accomplishment of the RB scheme launched by the Government of Telangana in 2018. This scheme was a state-level intervention that involved the distribution of a grant twice a year and was highly recognized for its empowering effects on agricultural investment. As a result of this success, the Indian Government brought the PM Kisan scheme as a national program to provide similar benefits to the citizens.
The PM-KISAN scheme was first introduced on December 1, 2018, with a yearly budget of ₹75,000 crore to help farmers nationwide. The accidental occurrence of this scheme’s sixth grant on August 9, 2020, saw 8.5 crore additions to the farmers’ benefits list and reinforced the government’s determination to stimulate agriculture and enhance the benefits enjoyed by the farmers.
Features of PM Kisan Samman Nidhi Yojana
The Pradhan Mantri Kisan Samman Nidhi offers a variety of key features:
– Income Support: The central essence of the plan is to assist income. Each enrolled farm family receives Rs 6,000 per year. This amount is divided into three equal parts of Rs 2,000 each every four months. The funds can be used for any purpose, as there are no specific requirements for the usage.
– Funding: Being a government-sponsored scheme, the financing of the PM-KISAN scheme relies solely on the Ministry of Finance, Government of India. The scheme initially got an annual budget of Rs 75,000 crore. On August 9, 2020, Rs 17,000 crore was transferred to beneficiaries through Direct Benefit Transfer (DBT) to their bank accounts.
– Identification Responsibility: While the central government mainly controls the deck, identification of the entitled is a local front issue. These local authorities decide which farmer families are eligible for the scheme. According to the scheme, a farmer’s family is a couple (with a wife) and their children.
How to Register for PM Kisan Samman Nidhi Yojana
The PM-KISAN scheme is open for registration for eligible farmers using the official website. Go to the official PM-KISAN website and click on the “New Farmer Registration” link in the Farmer’s Corner section.
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