PM Kisan Samman Nidhi Yojana has been launched by the Government of India in February 2019. This bold scheme envisages direct financial support to small and marginal farmers across the country. With direct transfer of cash benefits into bank accounts of farmers, this initiative could potentially address critical economic challenges of the farming community, such as the rising input cost and indecisive market fluctuation.
Key Features of PM Kisan Samman Nidhi Yojana
The PM-KISAN Yojana aims to bridge the financial gaps of farmers by providing them with a source of income support to enhance agricultural productivity and sustainability. The following are the key features of the scheme:
- Direct Financial Assistance:
The scheme guarantees an annual income of ₹6,000, payable in three equal instalments of ₹2,000 each. The benefit is directly transferred to farmer bank accounts through the Direct Benefit Transfer (DBT) mechanism. This ensures transparency and avoids leakages. - Target Group:
Initially it was targeted for small and marginal farmers having land up to two hectares for cultivation. The scheme was expanded in May 2019 to include all farmer families irrespective of the size of the land holding. This comprises land owning families where agriculture is their primary source of livelihood. - Minimum Paper Work:
The scheme is designed such that there are minimum bureaucratic delays in it. Farmers have to register under the program, which includes Aadhaar, bank account details, and proof of ownership of the land where farming is being done. After verification, the benefit would be transferred, thus ensuring funds are disbursed in time. - Budget and Reach:
The scheme provides ₹75,000 crore every year in every nook and corner of the country, reaching nearly 12 crore farmers. With universal support offered, it has become one of the largest income support schemes for farmers around the globe.
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Objectives and Benefits
- Relief from Financial Stress:
The overall objective of the PM-KISAN scheme is to relieve the economic burden on farmers during periods of financial distress, whether in terms of low yield of produce or total crop failure. Direct financial support allows farmers to quickly cover their input expenses such as seeds and fertilizers, as well as machinery.
2. Enhancement in Agricultural Productivity:
A better practice farm is one that earns higher income, thus having a better capacity to invest in better farming technologies and practices. This will have positive impacts on overall agricultural productivity and will produce increased efficient land use and better crop yield.
3. Support Rural Development
Through the strengthening of the financial ability of the farmers, indirect benefits occur during the development of rural areas. As money flow increases in rural economies, increased demand for goods and services in such regions call for an increase in economic growth.
4. Social Welfare:
Agrarian economy is the backbone of the Indian economy. Farming and allied sectors account for a significant portion of the population engaged in activities that sustain their livelihood. Thus, by directly transferring the benefit of PM-KISAN scheme to this vulnerable section of society, it fosters inclusive growth while improving living standards as well as lessening poverty.
Challenges and Criticisms
The PM-KISAN Yojana has been a success for the most part, but it raises many issues. For instance, it does not cover tenant farmers, sharecroppers, or landless agricultural laborers who do not own any land and thus don’t even qualify under the scheme. Additionally, instances of administrative delay, Aadhaar seeding gone wrong, and outdated land records have meant that some eligible farmers haven’t received their benefits in time.
The critics further argue that the financial aid, though helpful for the farmers, does not cover all the challenges faced by them in terms of high input costs, credit access, and uncertainties of the markets.
Conclusion
The PM Kisan Samman Nidhi Yojana is another landmark program of the Indian government that has aimed to empower farmers and improve agriculture in the country. Although many areas still remain short of needs, it has otherwise provided crucial financial aid to millions of farmers and may eventually mature into a more comprehensive farmer welfare program with better targeting and inclusion mechanisms. So, PM-KISAN is indeed a landmark flagship support of Prime Minister Narendra Modi for India’s agrarian community while striving toward self-reliance and sustainable agricultural practices.
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