The government always works for the welfare of the country's citizens. The main aim of the Indian government is to bring equality by supporting the weaker sections of society. Therefore, central and state government keeps launching different schemes for needy people. Pradhan Mantri Kisan Samman Nidhi scheme is one of those schemes launched by the central government.
As the name suggests, this scheme is for small farmers who do not have enough money to manage their living. This scheme has multiple benefits that help small farmers in a significant manner. If you want to know the benefits in your village, then you can consider reading the PM Kisan beneficiary list village wise.
What is Pradhan Mantri Kisan Samman Nidhi scheme?
The Pradhan Mantri Kisan Samman Nidhi also known as PM Kisan scheme is a significant initiative launched by the government of India. This scheme aims to provide financial support to small farmers across the country. This scheme is available across India, which means farmers from any part of the country can avail the benefits of this scheme.
PM Kisan scheme was introduced in 2019. This scheme addresses the growing concerns of agricultural distress and aims to offer a stable source of income to the farming community. PM Kisan scheme has millions of Beneficiaries which have made this scheme a critical element of the agricultural policy framework of India.
Under the PM Kisan scheme, farmers receive a sum of six thousand rupees each year. The amount directly gets transferred to their bank account, which is connected with an Aadhar card. This mechanism ensures transparency and minimizes the chances of leakage and fraud. The scheme is fully funded by the central government, which highlights its commitment to improving the economic conditions of farmers.
Objective Of PM Kisan Scheme
Financial Stability for Farmers
One of the main benefits of the PM Kisan scheme is the financial stability it provides to farmers. The agriculture industry in India is often subject to multiple risks including unpredictable weather patterns and pest infestations. The regular financial support provided by the scheme helps farmers manage these risks more effectively. It offers them a steady income source that can be used for purchasing seeds and other essential agricultural inputs.
Reduction in Dependence on Loans
Access to formal credit is very challenging for many farmers. Unfortunately, they often rely on informal sources of credit, which takes them into the debt trap. The PM Kisan scheme helps reduce this dependence by providing direct financial support.