Understanding PM Kisan Samman Nidhi: An Initiative to Support Farmers in India

Understanding PM Kisan Samman Nidhi: An Initiative to Support Farmers in India

PM Kisan Samman Nidhi is a scheme launched by the Government of India to provide financial assistance to farmers across the country. The scheme was launched on February 24, 2019, by Prime Minister Narendra Modi, with the aim of supporting the income of small and marginal farmers.

Under the PM Kisan Samman Nidhi scheme, eligible farmers are provided with direct income support of Rs. 6,000 per year in three equal instalments. The scheme is applicable to all farmers across the country who own less than 2 hectares of cultivable land. The first instalment of Rs. 2,000 is transferred to the bank accounts of the eligible farmers between December to March, while the second and third instalments are transferred between April to July and August to November, respectively.

The primary objective of the PM Kisan Samman Nidhi scheme is to provide financial assistance to farmers to meet their various agricultural needs, such as purchasing seeds, fertilizers, and other inputs, and to meet the expenses related to the cultivation of crops. The scheme is also aimed at boosting the income of farmers and enhancing their standard of living.

To implement the PM Kisan Samman Nidhi scheme, the government has set up a dedicated portal and a mobile app. Farmers can register themselves on the portal or the app, and provide the required details such as their name, Aadhaar number, and bank account details. Once the verification process is completed, the eligible farmers receive the financial assistance directly in their bank accounts.

The PM Kisan Samman Nidhi scheme has been a significant step towards the welfare of farmers in India. The scheme has provided much-needed financial support to small and marginal farmers, who constitute a significant portion of the farming community in the country. The scheme has also helped in reducing the debt burden of farmers and has boosted their morale and confidence.

The PM Kisan Samman Nidhi scheme has been widely praised by various sections of society for its potential to alleviate rural distress and improve the livelihoods of farmers. The scheme has also been hailed as a significant step towards achieving the goal of doubling farmers' income by 2022.

In conclusion, the PM Kisan Samman Nidhi scheme has emerged as a crucial initiative to support farmers in India. The scheme has been successful in providing direct income support to farmers, thereby boosting their income and enhancing their standard of living. With its potential to alleviate rural distress and improve the livelihoods of farmers, the scheme is likely to play a vital role in the agricultural development of the country in the coming years.