The Prime Minister has recently made a virtual announcement regarding the subsequent distribution of financial benefits under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN).
Key Facts and Figures
A sum of Rs. 18000 crores was deposited into the bank accounts of over nine crore farmers through Direct Benefit Transfer (DBT). Since the inauguration of this scheme in February 2019, more than 1 lakh 10 thousand crore rupees have directly benefited the farmers.
About Pradhan Mantri Kisan Samman Nidhi
Introduced in February 2019, PM-KISAN is a central farming-sector scheme. Its implementation is overseen by the Ministry of Agriculture and Farmers Welfare. A significant milestone was reached on its first anniversary with the launch of the PM-KISAN Mobile App. This app was developed by the National Informatics Centre (NIC) in cooperation with the Ministry of Electronics and Information Technology.
Under PM-KISAN, Rs. 6,000 is transferred annually in three equal instalments to all farmers who own land, irrespective of the size of their holdings. The task of identifying beneficiary families lies with the State/Union Territory Governments.
The scheme aims to decrease farmers’ input costs, ensure fair prices for crops, open new markets for crop sale and enhance the financial condition of Small and Marginal Farmers (SMFs).
Farm-Centric Progress
Several improvements geared towards enhancing farmers’ conditions have also been put into motion. The production cost has been fixed at one and a half times as Minimum Support Price (MSP) for the farmers as recommended by the Swaminathan Committee report. The number of crops for MSP consideration has also been expanded.
Over a thousand online agricultural marketplaces have been added. Efforts are being made to group smallholder farmers so that they can operate as a collective force in their respective regions. A campaign is currently underway to establish over 10,000 Farmers Producer Organizations (FPOs), which will be given financial assistance.
Additional Financial Support for Farmers
Under the Ayushman Bharat scheme, farmers are entitled to free treatment up to Rs. 5 lakh. This initiative has greatly reduced the significant health concerns of the farmers’ lives.
Alongside this, better options are provided to farmers through agricultural reforms. These include the Soil Health Card Scheme, Neem Coating of Urea, the Kisan Urja Suraksha evam Utthaan Mahabhiyan (KUSUM) scheme harnessing solar energy, and the Pradhan Mantri Fasal Bima Yojana (PMFBY).- PIB
