PM Kisan Samman Nidhi Yojana | 26 Feb 2022
Why in News?
In the three years, benefits under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) have been provided to about 11.78 Crore farmers and funds amounting to Rs 1.82 lakh crore in various installments have been released to the eligible beneficiaries of this scheme across India.
What is PM Kisan?
- About:
- It was launched on 24th February, 2019 to supplement financial needs of land holding farmers.
- Financial Benefits:
- Financial benefit of Rs 6000/- per year in three equal installments, every four month is transferred into the bank accounts of farmers’ families across the country through Direct Benefit Transfer (DBT) mode.
- Scope of the Scheme:
- The scheme was initially meant for Small and Marginal Farmers (SMFs) having landholding upto 2 hectares but scope of the scheme was extended to cover all landholding farmers.
- Funding and Implementation:
- It is a Central Sector Scheme with 100% funding from the Government of India.
- It is being implemented by the Ministry of Agriculture and Farmers Welfare.
- Objectives:
- To supplement the financial needs of the Small and Marginal Farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income at the end of each crop cycle.
- To protect them from falling in the clutches of moneylenders for meeting such expenses and ensure their continuance in the farming activities.
- PM-KISAN Mobile App: It was developed and designed by the National Informatics Centre in collaboration with the Ministry of Electronics and Information Technology.
- Physical Verification Module: A mandatory physical verification of 5% beneficiary every year is being done as per the provisions laid down in the scheme.