Why in News?

• PM to launch PM-KISAN scheme from Gorakhpur in Uttar Pradesh.

Pradhan Mantri Kisan Samman Nidhi Yojana (PM KISAN):

• The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) was announced in the interim Budget 2019-20.
• Under the Scheme, Rs 6,000 will be given per year to small and marginal farmer families having combined land holding/ownership of upto 2 hectares.
• The amount will be given in three installments of Rs.2000 each.
• The amount will be transferred directly to the bank account of beneficiaries through Direct Benefit Transfer. DBT will ensure transparency in the entire process and will save time for the farmers.
• PM KISAN is a Central Sector scheme with 100% funding from Government of India. The Scheme becomes effective from 1.12.2018 for transfer of benefit to eligible beneficiaries.
• State Government and UT Administration will identify the farmer families which are eligible for support as per scheme guidelines.

Objectives of the scheme:

• The Scheme was introduced to augment the income of the Small and Marginal Farmers (SMFs). It is estimated to benefit more than 12 crore small and marginal farmers.
• 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, commensurate with the anticipated farm income at the end of each crop cycle.
• This would also protect them from falling in the clutches of moneylenders for meeting such expenses and ensure their continuance in the farming activities.