PM- Kisan Scheme- What is it and Why it's Trending?

The CM of Andhra Pradesh, YS Jagan Mohan Reddy recently distributed a financial aid of Rs 3,923.21 Cr among 52,30,939 farmers through YSR Rythu Bharosa -PM Kisan program in its 5th consecutive year. Farmers across the state were credited an amount of 5,500 additionally with Rs 2000 from the center as a component of PM Kisan Yojana.

The Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme is a transformative initiative launched by the Government of India in 2019, to provide direct income support to farmers across the country. The scheme aims to address the challenges faced by small and marginal farmers by offering financial assistance and promoting their overall welfare.

Vision

The PM-Kisan scheme aims for a secure and sustainable livelihood for farmers, enhancing agricultural productivity, and boosting the overall growth of the agricultural sector in India. It strives to empower farmers and create a more inclusive and resilient farming community.

Eligibility

• Small and marginal farmers are eligible under this scheme.

• Farmer families that hold cultivable land can fill applications for achieving the benefits of this plan.

• The beneficiary is an Indian citizen.

Also Read:- Farmer Welfare Schemes Launched by Modi Government in the Last 9 Years

 Features

Below mentioned are the following features of this scheme:-

Direct Income Support

The eligible farmers under this scheme would receive direct income support of Rs. 6,000 per year, paid in three equal installments of Rs. 2,000 each every 4 months, directly into their bank accounts.

Coverage of Small and Marginal Farmers

 The scheme aims to cover small and marginal farmers, who constitute a significant portion of the farming community in India. It provides them with financial assistance to improve farmers' living standards and safeguard agriculture.

Aadhaar-based Identification

 Aadhaar authentication plays a crucial role in the identification and verification of beneficiaries, ensuring transparency and minimizing discrepancies in the distribution of funds.

Objectives

The following are the objectives of PM- Kisan Scheme:-

• Income Support- The primary objective of the PM-Kisan scheme is to provide timely and adequate income support to farmers to meet their agricultural and household expenses.

• Socio-Economic Upliftment- The program intends to improve the socio-economic standing of farmers by reducing their reliance on unofficial lending sources and enabling them to make investments in cutting-edge farming machinery, tools, and technology.

• Increased Productivity- The program promotes farmers to embrace modern farming techniques, boost productivity, and maximize crop yields by guaranteeing them financial security.

• Welfare of Farmers- This scheme strives to address the welfare needs of farmers, ensuring their well-being, and safeguarding them against agrarian distress.

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Benefits for Farmers

Here are the following impacts and benefits to farmers:-

 Financial Security

The direct income support provided through PM-Kisan offers financial stability to farmers, enabling them to meet their farming expenses and purchase quality seeds, fertilizers, and necessary inputs.

Reduced Debt Burden

 By receiving regular income support, farmers can reduce their dependency on high-interest loans and break free from the cycle of debt, leading to improved financial health.

Effective Agriculture Production

Easy access to resources will help farmers to make required investments in their farms and acquire suitable inputs from high-quality seeds, fertilizers, irrigation facilities, and many more.

Social Security

This scheme provides a sense of security to farmers as it enables and ensures a stable income, reducing market vulnerability to ongoing market fluctuations and many more.

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