PM-Kisan Scheme: Empowering Farmers with Financial Support

PM-Kisan Scheme: A Crucial Step Towards Financial Empowerment for Farmers in Current Affairs

The PM-Kisan Scheme (Pradhan Mantri Kisan Samman Nidhi) is a flagship initiative by the Government of India aimed at providing direct financial support to farmers across the country. Launched in December 2018, the scheme is designed to supplement the income of small and marginal farmers and help them meet their agricultural needs.

Key Features of the PM-Kisan Scheme:

1. Direct Cash Transfer:
   • Under the PM-Kisan Scheme, eligible farmers receive a direct transfer of ₹6,000 annually in three equal installments (₹2,000 per installment).
   • The payment is transferred directly to the bank accounts of the farmers through Direct Benefit Transfer (DBT).
2. Eligibility Criteria:
   • The scheme is primarily targeted at small and marginal farmers with landholdings of up to 2 hectares.
   • The eligibility of farmers is determined based on their landholding and the agricultural records available with the government.
   • The scheme excludes farmers who are income tax payers, members of the central or state legislative assemblies, or those who have certain high-income occupations (like professionals).
3. Coverage:
   • Initially, the scheme covered around 12 crore farmers across India, with the number increasing as more farmers are identified and registered under the scheme.
   • Farmers must be registered with the PM-Kisan Portal to receive benefits, and the government has taken steps to ensure that even remote and rural farmers are included.
4. Purpose of the Scheme:
   • The aim is to provide financial assistance to farmers to support their day-to-day agricultural activities, purchase seeds, fertilizers, and pay for irrigation or other farming costs.
   • It also helps farmers reduce their dependency on loans from moneylenders, offering them a more sustainable source of income.
5. Benefits:
   • The scheme provides financial stability to farmers, especially in the face of fluctuating market prices, crop failure, and other challenges faced in agriculture.
   • It promotes agricultural productivity by enabling farmers to invest in better farming equipment, technology, and inputs.
6. Implementation:
   • The scheme is implemented through the Ministry of Agriculture and Farmers Welfare, with state governments playing an important role in the registration and verification of farmers.
   • Farmers can check their eligibility, register, and track payments on the official PM-Kisan Portal or through mobile applications designed for this purpose.

Impact of PM-Kisan Scheme:

• Financial Empowerment: The financial assistance has helped many farmers in meeting their daily agricultural requirements.
• Reduction in Loan Dependency: By receiving direct cash support, farmers are less likely to borrow from informal sources, which can sometimes lead to high-interest debt cycles.
• Boost to Rural Economy: By injecting funds directly into rural areas, the scheme has contributed to boosting the local economy, particularly in the agricultural sector.

Conclusion:

The PM-Kisan Scheme represents a significant effort by the Indian government to empower farmers and improve their economic conditions. By ensuring direct cash transfers and reducing financial strain, the scheme has the potential to positively impact the agricultural sector and improve the livelihoods of millions of farmers across the country.