Pradhan Mantri Kisan Samman Nidhi Yojana (PMKSNY)

Last Updated : May 23, 2023, 4:10 p.m.

The government launched the Pradhan Mantri Kisan Samman Nidhi Yojna, a central sector programme, to increase agricultural households’ income. The scheme went into effect on December 1, 2018. In Gorakhpur, Uttar Pradesh, on February 24, 2019, PM Narendra Modi unveiled the PM Kisan Samman Nidhi Yojana scheme. The programme was formally introduced on this day. The Union Government would fund the entire yearly cost of this scheme, which is anticipated to be Rs. 75,000 crores.

The government has introduced PM Kisan Samman Nidhi Yojana to give income support to all qualified farmer families that own cultivatable land. The programme attempts to augment farmers’ financial requirements by helping them buy inputs that will ensure good crop health and adequate yields in line with expected farm income.

Purpose of PM Kisan Samman Nidhi Yojana

Almost 60% of the Indian population is employed in the agriculture sector. One of India’s major social groups is the farming community, and the nation’s economy heavily depends on this sector. Yet, farming communities have frequently battled financial prosperity due to socioeconomic differences between rural and urban areas of the country. Since India’s independence, a larger portion of its population has faced this problem.

The central and state governments have worked tirelessly to improve these communities through several programmes designed to address said social and economic issues. In order to assist such communities, the Indian government launched the PM Kisan Samman Nidhi Yojana in 2018.

The sixth instalment of this scheme was made available by the Indian government on August 9, 2020, and around 8.5 crore peasants received it. This project aims to help India’s 125 million farmers, particularly the disadvantaged or small-scale ones, according to its objectives.

Features of PMKSNY

Here are the salient features of PM Kisan Samman Nidhi Yojana.

Income Assistance

The PM Kisan Samman Nidhi Yojana is an initiative of the Indian government that intends to provide all small and marginal farmers with basic income support of up to Rs. 6000 annually. The main component of this scheme is the assistance it provides farmers for their minimal income. Note that not all of the money is not distributed at once. Every landholding farmer families get a monetary incentive of Rs. 6000 annually through the PMKSNY scheme. Every four months, this amount is due in three equal instalments of Rs. 2000. The recipient may put this money to use in different ways. The PM Kisan Samman Nidhi Yojana expressly defines no usage restriction.

Funding

PM Kisan Samman Nidhi Yojana is a farmer support programme funded by the Indian government. As a result, the Indian government provides all of its funding. In the beginning, it was decided that a sum of Rs. 75,000 crores would be allocated to this project annually. On August 9, 2020, it used Direct Benefit Transfer or DBT to deposit the most recent instalment of Rs. 17,000 crores into the bank accounts of the scheme’s beneficiaries.

Selection of Beneficiaries

The central government is responsible for funding but not for selecting the recipients of the funds. Instead, this is under the control of the State and Union Territory governments. These governments will determine which farmer households will profit from the programme. It is important to note that a farmer’s family must consist of a husband, wife, and a minor child or children under the PM Kisan Samman Nidhi Yojana definition.

Benefits of PM Kisan Samman Nidhi Yojna

The Indian government runs the PM Kisan Samman Nidhi Yojana as a central sector programme. This programme was established to assist numerous marginal and small-scale farmers and help diversify their revenue streams. The following are the key advantages:

• PM Kisan Samman Nidhi Yojana offers financial assistance to all qualified landowner farmers and their families. The PM-KISAN plan aims to support the farm owners’ financial needs to ensure maximum crop health and farm revenue.
• The instantaneous transfer of funds is one of this plan’s key advantages. This helps farmers tremendously as it is reliable.
• All official records about farmers are kept on a computerised platform, making registration and money transfers simple. This assistance programme has a fresh start thanks to the digitised records.
• This programme alleviates farmers’ cash-flow issues.
• The PM-KISAN Yojana is a significant step towards the government’s plans for modernising agriculture.
• The selection of PMKSNY beneficiaries excludes any discrimination.

Who Qualifies for the PM Kisan Program?

The qualifying requirements of PM Kisan Samman Nidhi Yojana are one of the most important aspects of this government programme. Farmer households who meet these requirements can take advantage of this programme:

• PMKSNY is available to marginal and small farmers.
• Families of farmers who own land are eligible to qualify for the advantages of this programme.
• The recipient must be an Indian national.

Exceptions to the Scheme

The categories listed below are not qualified to receive benefits under PM Kisan Samman Nidhi Yojana:

• Institutional landowners of any kind.
• The farmer and any family member falling under one of the following categories:

• Bearers of constitutional positions, both past and present
• Ministers, both past and present, and State Ministers
• Members of the LokSabha, RajyaSabha, State Legislative Assemblies, or State Legislative Councils, past or present
• Past and current municipal corporation mayors
• District Panchayat Chairman past and present.
• Any active or retired officials and staff members working for Central or State Government Ministries, Offices, or Departments.

• All retired pensioners who fall within the group mentioned above and receive a monthly pension of at least Rs. 10,000
• Individuals who paid income tax in the most recent assessment year
• Professionals who have registered with professional organisations and are actively practising their professions, such as doctors, engineers, lawyers, Chartered Accountants, and architects.

Documents Required

The following documentation must be produced by farmers who qualify for the PM Kisan Samman Nidhi Yojana:

• Citizenship document
• Land ownership records
• Data from an Aadhaar card’s bank account.

How to Sign Up for the PM Kisan Samman Nidhi Yojana?

Those who meet the requirements for this programme, as stated above, can register themselves as beneficiaries in the following ways:

• PMKSNY nodal officials must be proposed by the governments of each state. Anyone can approach them to sign up for this programme.
• To register, eligible farmers can also speak with their neighbourhood patwaris or revenue authorities.
• By paying a charge, it is also possible to sign up for this programme through the Common Service Centers (CSCs).
• Together with these, individuals can sign up for the PM Kisan Samman Nidhi Yojana online by way of a particular portal. To get started, go to the PMKSNY official website and click the “New Farmer Registration” link under the Farmer’s Corner section.

Conclusion

Farmers willing to enjoy the benefits of PMKSNY can approach their respective state government or CSC to apply for the scheme. Remember to read the eligibility criteria thoroughly and gather all required documents before signing up.

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