Pradhan Mantri Kisan Samman Nidhi yojana is an initiative by the government of India that give farmers up to 6,000 rupees per year as minimum income support. The initiative was announced by Piyush Goyal during the 2019 Interim Union Budget of India on 1 February 2019. The scheme has cost 75,000 crore per annum and came into effect December 2018.
The scheme was first conceived and implemented by government of Telangana as the Rythu Bandhu scheme, where a certain amount is given directly to eligible farmers. Government of India wanted to implement this PM Kisan Samman Nidhi Yojana as nationwide project and it was announced by Piyush Goyal during the Interim Union Budget of India on 1 February 2019.
In the Financial year 2018–2019, 20,000 Crore was allocated under this scheme. On 24 February 2019, Narendra Modi launched the scheme in Gorakhpur and Uttar Pardesh by transferring the first instalment of 2,000 rupees each to over one crore farmers. Ministry of Agriculture and Farmers Welfare has awarded the top-performing states, and districts under PM Kisan Samman Nidhi Yojana. It is based on the criteria such as correction of data, addressing farmer grievances, and timely physical verification exercise.
Key Features Of PM Kisan Yojana
Below given main information of PM Kisan Yojana:
|Name of the scheme||PM-KISAN Yojana|
|Full-Form||Pradhan Mantri Kisan Samman Nidhi Yojana|
|Date of launch||24th February 2019|
|Government Ministry||Ministry of Agriculture and Farmers Welfare|
Objectives Of PM Kisan Samman Nidhi Yojana
PM Kisan Yojana is started as a central sector scheme by the Government of India. This yojana was initiated to raise the source of income of many small and minimal farmers. The main objectives of the PM-KISAN scheme are mentioned below:
- Provide income support to all eligible land-holding farmers and their families.
- PM-KISAN scheme also aims to add the financial needs of the farmers in finding various inputs to ensure proper crop health and appropriate yields income.
- Scheme is expected to increase the coverage of PM-KISAN to around 14.5 crore beneficiaries. It focus to cover around 2 crores more farmers with an estimated spending of Rs. 87,217.50 crores that will be funded by the Indian Government.
Advantages Of PM Kisan Samman Nidhi Yojana
Below are the advantages and the influnces of the PM-KISAN scheme:
- 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
- Records related to farmers is registered officially on a digital platform which has made the registration and fund transfer easy.
- PM-KISAN Yojana is a big step towards the Government’s initiatives of transformation in agriculture.
- There is no unfairness and favoritism in choosing the PM-KISAN beneficiaries.
PM Kisan Yojana is started as a central sector scheme by the Government of India. This yojana was initiated to raise the source of income of many small and minimal farmers. The initiative was announced by Piyush Goyal during the 2019 Interim Union Budget of India on 1 February 2019. The scheme has cost 75,000 crore per annum and came into effect December 2018. Visit Beneficiary List for seeing it.