PM-Kisan Samman Nidhi Yojana

Pradhan Mantri Kisan Samman Nidhi is a central government scheme that provides income support to farmers and their families. PMKISAN scheme was first implemented as the Rythu Bandhu scheme by the Government of Telangana where a certain amount was handed directly to eligible farmers. Later, on 01 February 2019, during the 2019 Interim Union Budget of India, Minister Piyush Goyal announced the implementation of this scheme as a nationwide project. Prime Minister Narendra Modi launched the PM-KISAN scheme on 24 February 2019 in Gorakhpur, Uttar Pradesh. Under this scheme, all small and marginal farmers will be provided with income support of Rs.6,000 per year in three installments which will be deposited directly to their bank accounts. The total annual expenditure for this scheme at Rs.75,000 crore was to be financed by the Union Government.?

Objectives of PM-KISAN scheme:

• To provide income support to all eligible land-holding farmers and their families.?
• To supplement the financial needs of the farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income.
• The scheme is expected to increase the coverage of PM-KISAN to around 14.5 crore beneficiaries. It aims to cover around 2 crores more farmers with an estimated expenditure of Rs. 87,217.50 crores that will be funded by the Central Government.

Advantages of PM-KISAN Scheme:

• The direct transfer of funds is one of the biggest advantages of this scheme. On December 25, 2020, in the presence of PM Narendra Modi, Rs.18,000 crores were directly transferred to the bank accounts of 9 crore farmers.
• All the records related to farmers are registered officially on a digital platform, making the registration and fund transfer easy. Digitalised records have brought about a new start to this welfare scheme.
• This scheme eases the liquidity constraints of farmers.?
• PM-KISAN yojana is a big step towards the Government’s initiatives for modernisation of agriculture.
• ?There is no discrimination in choosing the PM-KISAN beneficiaries.