- Source: Pradhan Mantri Kisan Samman Nidhi
Pradhan Mantri Kisan Samman Nidhi (PMKISAN, translation: Prime Minister's Farmer's Tribute Fund) is an initiative by the government of India that give farmers up to ₹6,000 (US$72) per year as minimum income support. The initiative was announced by Piyush Goyal during the 2019 Interim Union Budget of India on 1 February 2019. The scheme has cost ₹75,000 crore (equivalent to ₹930 billion or US$11 billion in 2023) per annum and came into effect December 2018.
History
The scheme was first conceived and implemented by government of Telangana as the Rythu Bandhu scheme, where a certain amount is given directly to eligible farmers. The scheme has received accolades from various organisations for its successful implementation, including World Bank. Many economist suggest that this type of investment support is better than farm loan waivers. With the positive outcome of this scheme, Government of India wanted to implement it as nationwide project and it was announced by Piyush Goyal during the 2019 Interim Union Budget of India on 1 February 2019.
For 2018–2019, ₹20,000 crore was allocated under this scheme. On 24 February 2019, Narendra Modi launched the scheme in Gorakhpur, Uttar Pradesh, by transferring the first instalment of ₹2,000 each to over one crore farmers.
Ministry of Agriculture and Farmers Welfare has awarded the top-performing states, and districts under PM Kisan Samman Nidhi Yojana. In addition to PMKISAN, individuals can explore a wide range of government schemes aimed at providing financial assistance and support to farmers and other beneficiaries. It is based on the criteria such as correction of data, addressing farmer grievances, and timely physical verification exercise.
Comparison with similar schemes
See also
Agriculture in India
Agricultural insurance in India
Irrigation in India
Rashtriya Krishi Vikas Yojana
References
Kata Kunci Pencarian:
- Pradhan Mantri Kisan Samman Nidhi
- Pradhan Mantri Fasal Bima Yojana
- Pradhan Mantri Krishi Sinchai Yojana
- Pradhan Mantri Gramin Awas Yojana
- Pradhan Mantri Jeevan Jyoti Bima Yojana
- Pradhan Mantri Suraksha Bima Yojana
- Pradhan Mantri Matri Vandana Yojana
- Samman
- Agricultural insurance in India
- Ministry of Agriculture and Farmers' Welfare
