Why in News?

• The Vice President of India, Shri M. Venkaiah Naidu has called for introducing structural reforms in the agricultural sector along with financial assistance schemes like Direct Benefit Transfer to make agriculture profitable and sustainable.
• He inaugurated the Mukhya Mantri Krishi Ashirwad Yojna of the Jharkhand Government.

Highlights:

• Under the scheme, all the small and marginal farmers of the state, who have arable land up to a maximum of 5 acres, will be given a grant-in-aid at the rate of Rs. 5000 / – per acre per year, which will also reduce their dependence on loans.
• This amount would be given in two instalments through Direct Benefit Transfer to the beneficiary’s bank account.
• This is in addition to PM Kisan Nidhi Yojana under which each small & marginal farmer’s family having combined landholding/ ownership of up to two hectares is paid Rs. 6,000 per year.
• Direct Benefit Transfer would eliminate middlemen and ensure that every penny of the financial assistance given by the government reaches the beneficiaries.
• Government of India has taken a firm resolve to double the income of farmers by 2022.