Over Rs 2.24 Lakh Crores disbursed to Farmers and their families under PM-KISAN Scheme
21 February 2023, New Delhi: Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), one of the largest Central Sector Schemes, is being implemented to supplement the financial needs of land-holding farmers of the country subject to certain exclusion criteria related to higher economic status. Under the scheme, the financial benefit of Rs. 6000/- per year, in three equal installments, is transferred into the bank accounts of farmers.
As per the Operational Guidelines of the Scheme, the States/UTs identify and verify the eligible farmers before uploading the data on PM-KISAN Portal. The benefits are transferred to the beneficiaries through Direct Benefit Transfer mode after validation of data uploaded by States / UTs on the PM-KISAN Portal.
PM-KISAN Scheme was launched in February 2019, leaving less than two months in FY 2018-19. Based on the verified data received from respective State/UT Governments, the Union Government was able to transfer benefits to more than 3 Crore beneficiaries. The number of farmers who benefitted has increased manifold in the subsequent financial years.
The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme is being implemented to provide income support to all landholding Farmers’ families across the country to enable them to take care of expenses related to agriculture and allied activities as well as domestic needs.
PM KISAN is a major shift like direct support by the government to the farmers of the country. A farmer-centric digital infrastructure has ensured the benefits of the scheme reach all the farmers across the country without any involvement of the middlemen. Maintaining absolute transparency in the process of registration and verification of beneficiaries, the Government of India has disbursed over Rs 2.24 Lakh Crores to Indian Farmers and their families. Of this amount, more than Rs 1.7 Lakh Crores have been transferred since the lockdown due to Covid Pandemic and this helped the farmers of the country to manage their day-to-day expenses.
The funds disbursed under the initiative have acted as a catalyst in rural economic growth, aided in alleviating the credit constraints for farmers, and increased investments in agricultural inputs. The scheme has enhanced farmers’ risk-taking capacity, leading them to undertake riskier but comparatively productive investments.
According to a study conducted by IFPRI, (International Food and Policy Research Institute), the funds received by recipients under PM KISAN are not only helping them with their agricultural needs, but it is also catering to their other expenses such as education, medical, marriage, etc. These are the indicators of the positive impact of the scheme on the farmers of the country.
There are no implementation challenges faced in the Scheme.
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