PM- Kisan Samman Nidhi Yojana: Objectives, Importance, Benefits and More Details

PM- Kisan: The Pradhan Mantri Kisan Samman Nidhi plan is a govt. Of India’s centrally sponsored scheme that offers financial assistance to farmers and their families. The Telangana government first introduced the PM-KISAN program as the Rythu Bandhu program, in which a specific sum was given directly to qualified farmers. Later, in India’s 2019 Provisional Union Budget, Piyush Goyal said that this program would be implemented as a countrywide project on February 1, 2019.

On February 24, 2019, Prime Minister Narendra Modi introduced the PM-KISAN program in Gorakhpur, Uttar Pradesh. All smallholder farmers would receive annual financial assistance of Rs.6,000 in three instalments, which will be put directly into their bank accounts within this program.

PM-Kisan scheme: Objectives

The Government of India has launched the Pradhan Mantri Kisan Samman Nidhi Yojana as a centrally sponsored initiative. This programme was created to supplement the earnings of many marginal and small farmers. The following are the major goals of the PM-KISAN plan:

• To provide financial assistance to all qualified landowners and their families.
• The PM-KISAN scheme also attempts to complement farmers’ funding requirements for variable factors to promote proper plant health and yields that are comparable with expected agricultural income.
• The plan is projected to expand PM-coverage KISANs to roughly 14.5 crore people. With a projected investment of Rs. 87,217.50 crores from the National Government, it seeks to cover an additional 2 crore peasants.

Benefits of the PM-Kisan Scheme

The following are the benefits and impacts of the PM-KISAN programmes:

• One of the most huge benefits of this programme is the direct delivery of cash. Rs.18,000 crores were immediately disbursed to the savings accounts of 9 crore farmers on December 25, 2020, in the sight of Prime Minister Narendra Modi.
• All data about farmers are formally documented on a digital service, making enrollment and fund distribution simple. This benefit plan has gotten a fresh start thanks to the digitalized records.
• This programme helps farmers with their cash flow problems.
• The PM-KISAN Yojana is a significant step forward in the govt’s agricultural modernization objectives.
• There is no prejudice in the selection of PM-KISAN recipients.