PM Kisan Samman Nidhi Yojana: Eligibility, Objectives, and Features

PM Kisan Samman Nidhi: The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KSNY) is a Central Sector Scheme introduced by the Government of India to support farmers by providing them with direct income assistance.

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About PM Kisan Samman Nidhi Yojana

PM Kisan Samman Nidhi Scheme - Overview

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PM Kisan Samman Nidhi Scheme Objectives

1. To Boost Farmers' Income: The scheme directly supports farmers with regular income, helping them afford essential agricultural inputs such as seeds, fertilizers, and tools.
2. Reduce Dependence on Informal Credit: Farmers can avoid high-interest loans from moneylenders to meet immediate agricultural expenses.
3. Ensure Financial Inclusion: It promotes financial inclusion by encouraging the unbanked population to open bank accounts linked with Aadhaar to receive payments under the scheme.
4. Address Financial Vulnerability: Direct income support helps farmers deal with uncertainties like crop failure, poor weather conditions, and other risks associated with agriculture.

Key Features of PM Kisan Samman Nidhi

• Direct Benefit Transfer (DBT): Farmers receive ₹6,000 per year in three installments, deposited directly into their Aadhaar-linked bank accounts. This eliminates middlemen, ensuring transparency.
• No Middlemen: All processes are digital, cutting out any intermediaries, thereby reducing corruption and ensuring timely fund transfers.
• Wide Coverage : Over 11 crore farmers benefit from the scheme. This widespread coverage reflects its inclusiveness and reach.
• Farmer Self-Registration: Farmers can register themselves using the PM Kisan portal or mobile app, making it easier for them to access benefits.
• Support for Agricultural Expenses: The funds can be used by farmers for any agricultural-related expenses, whether for inputs, tools, or personal needs.

Technology Support for the PM KISAN Scheme

PM KISAN Mobile App

PM KISAN Portal

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PM Kisan Samman Nidhi Scheme Eligibility

Eligibility Criteria

Exclusion Categories

• Institutional landholders
• Members holding constitutional posts
• Serving or retired government employees
• Pensioners receiving over ₹10,000
• Income taxpayers
• Professionals such as doctors and engineers

Significance of PM Kisan Samman Nidhi

• Financial Support to Farmers: The regular income provided by the scheme helps farmers manage their expenses without falling into debt traps. It also improves their purchasing power for agricultural inputs.
• Improvement in Agricultural Productivity: By ensuring that farmers have a reliable source of income, the scheme helps improve the health and productivity of crops.
• Boost Digital Infrastructure: The integration of Aadhaar, mobile phones, and bank accounts has brought a digital revolution in rural India. It reduces the scope for corruption and misuse.
• Inclusive Growth: It ensures the financial inclusion of millions of small and marginal farmers who were previously underserved.

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PM Kisan Samman Nidhi Yojana - Challenges

• Financial Inadequacy: Although ₹6,000 a year provides some relief, it is insufficient to cover all the expenses a farmer might face in a year, particularly for major agricultural investments.
• Inaccurate Land Records: In many regions, inaccurate land records and a lack of updated documentation prevent eligible farmers from registering for the scheme.
• Delayed Payments : Due to the dependency on state governments for identifying beneficiaries, there have been occasional delays in payments, which impacts farmers relying on timely funds.
• Insufficient Financial Support: The effectiveness of PM KISAN depends on substantial financial aid to help farmers meet their daily needs, yet the cash transfer is not adjusted based on land size.
• Implementation Challenges: The top-down approach to implementation may overlook local governance issues, hindering the scheme's effectiveness and responsiveness.

Way Forward

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