The government of India introduced the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) in February 2019 with the goal of helping small and marginal farmers in the country with their income. What you need know about the plan is as follows:
- PM-KISAN’s main objective is to give qualified farmers direct income support in order to maintain their financial stability and increase their income so they can buy necessary inputs.
- Beneficiaries: The programme is available to small and marginal farmers who possess up to 2 hectares of arable land. The programme intends to assist almost 12 crore farmers nationwide.
- Financial Assistance: Eligible farmers who qualify for PM-KISAN receive ₹6,000 year in direct income support, payable in three equal installments of ₹2,000 each. Through Direct Benefit Transfer (DBT), the beneficiaries receive their payouts straight into their bank accounts.
- Payment Schedule: The plan pays out in April, August, and December of each year. It runs on a quarterly basis. The actual dates of distribution, however, can differ.
- Implementation: The Department of Agriculture, Cooperation & Farmers Welfare, a division of the Ministry of Agriculture & Farmers Welfare, Government of India, is in charge of carrying out PM-KISAN. The corresponding governments of each state and union territory carry out the plan.
- Registration Procedure: The nodal department of each state or union territory is where farmers can register for the programme. Providing information about bank accounts, Aadhaar numbers, and landholdings is typically part of the registration process.
- Monitoring and Assessment: To guarantee openness and efficient operation, the programme is continuously observed. Several methods are used to avoid duplication and guarantee that the intended recipients, such as online databases and Aadhaar authentication, receive benefits.
- Budget Allocation: To guarantee the seamless operation of the programme and prompt distribution of benefits to the farmers, the government allots a sizeable sum of money for PM-KISAN each year.
The overall goal of the Pradhan Mantri Kisan Samman Nidhi initiative is to encourage small and marginal farmers in their agricultural endeavours and lessen their financial burden, which will enhance India’s rural development and food security.
