Context:

• The Prime Minister Narendra Modi launched the Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) from Gorakhpur, Uttar Pradesh.
• On the launch day itself, the first instalment of Rs 2,000 was directly credited to the bank accounts of selected beneficiary farmers. Around 12 crore farmers are expected to benefit from PM-KISAN.
• The Pradhan Mantri Kisan Samman Nidhi Yojana was announced in the Union Interim Budget 2019 by Finance Minister.

Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN):

Objective of the Scheme:

The PM-KISAN scheme aims to supplement the financial needs of the SMFs in procuring various inputs to ensure proper crop health and appropriate yields. This would also protect them from falling in the clutches of moneylenders for meeting expenses and ensure their continuance in the farming activities.

The Pradhan Mantri Kisan Samman Nidhi will provide assured income to small and marginal farmers.

Under the Scheme, all Small and Marginal Farmers (SMF) with combined land holding or ownership of up to 2 hectares of cultivable land will be provided with income support of Rs 6000 per year.

The amount will be transferred directly into their account in 3 equal installments of Rs 2000 each. The Direct Benefit Transfer (DBT) will ensure transparency in the entire process.

The complete expenditure of Rs 75000 crore for the scheme will borne by the Union Government in 2019-20.

Over 12 crore farmer families will be benefitted under the scheme.

The scheme is being implemented with effect from December 2018.