Introduction
The Pradhan Mantri Kisan Samman Nidhi Yojana (PMKSNY), affectionately known as PM Kisan Yojana, represents a watershed moment in India's agricultural policy landscape. Launched in December 2018 and subsequently announced by Prime Minister Narendra Modi during the 2018-2019 interim budget speech, this visionary scheme has evolved into a cornerstone of the government's commitment to rural welfare and agricultural development.
Historical Context and Evolution
The Pradhan Mantri Kisan Samman Nidhi Yojana was initiated by the Government of India on December 1, 2018. It offers income support of ₹6,000 annually to every landholding farmer family in the nation, possessing cultivable land up to 2 hectares.
Initially introduced by Prime Minister Narendra Modi during his 2018-2019 interim budget speech, the scheme aimed to assist 12 crore farmer families. However, its scope was later expanded to encompass all 25 crore farmer families across the country. Administered by the Department of Agriculture, Cooperation, and Farmers Welfare under the Ministry of Agriculture and Farmers Welfare, the scheme is wholly funded by the central government.
Objectives and Features
The Pradhan Mantri Kisan Samman Nidhi Yojana aims to achieve several objectives:
Providing fundamental financial support to small and marginal land holding farmer families across the country, particularly those with cultivable land.
Addressing the financial requirements of vulnerable farmers by facilitating access to various agricultural inputs necessary for ensuring crop health, optimal yields, and supporting allied agricultural activities.
Stimulating rural consumption, thereby contributing to overall economic growth in rural areas.
Supplementing the Government of India's efforts to double farmers' income by 2022.
Similarly, the key features of the PM Kisan Samman Nidhi Yojana include:
Income Support: Eligible farmer families receive Rs. 6,000 annually, distributed in three equal installments every four months, providing a steady income stream.
Usage Flexibility: Beneficiaries have the freedom to utilize the received amount for various purposes according to their specific needs, without any rigid restrictions.
Funding: The entire funding for the PMKSNY scheme is provided by the Government of India. Initially, a reserve of Rs. 75,000 crore per year was allocated for this initiative, with direct transfers made to beneficiaries' bank accounts via the Direct Benefit Transfer (DBT) mechanism.
Identification Responsibility: The identification of beneficiaries rests with the State and Union Territory governments, while the funding responsibility lies with the Government of India. These authorities determine the eligibility of farmer families for the scheme, adhering to the defined criteria specifying a family as comprising a husband, wife, and minor child or children.
The PM-KISAN mobile application was developed and designed through collaboration between the National Informatics Centre and the Ministry of Electronics and Information Technology further promoting the Digital India scheme.
Significance
The scheme holds a lot of significance due to the following reasons;
It provides crucial support to small and marginal farmers engaged in subsistence farming, who often struggle to invest in agricultural inputs or modern technology.
The scheme contributes to boosting rural consumption, thereby positively impacting agriculture and allied sectors.
Through cash transfer programs, the scheme plays a vital role in reducing hunger and rural poverty, serving as an essential tool for social protection and poverty alleviation.
The scheme encourages productive investment and facilitates access to markets, thereby stimulating local economies. Income support received can be utilized for making repayments or activating bank accounts, which in turn can facilitate access to loans.
The PM-KISAN Scheme is instrumental in fostering rural development, serving as a complementary component to broader rural development agendas. It aligns with pro-poor growth strategies focusing on agriculture, thereby contributing to overall rural prosperity and development.
The Way Forward
To unlock PMKSNY's full potential and surmount implementation hurdles, concerted efforts are imperative on multiple fronts. Strengthening institutional frameworks, digitizing land records, and enhancing ICT infrastructure are foundational steps towards improving beneficiary identification and ensuring seamless fund disbursement.
Furthermore, enhancing last-mile banking penetration, coupled with robust grievance redressal mechanisms, is crucial for fostering financial inclusion and accountability within the system. Additionally, raising awareness among farmers about the scheme's benefits and procedures is essential for maximizing its impact.
Beyond PMKSNY, sustained agricultural reforms are indispensable for ushering in a new era of prosperity in India's agrarian landscape. Initiatives aimed at bolstering infrastructure, promoting market access, and enhancing farmers' income hold the key to realizing the sector's untapped potential.
Conclusion
Pradhan Mantri Kisan Samman Nidhi Yojana symbolizes a paradigmatic shift in India's agricultural policy, heralding a future where farmers are empowered, resilient, and prosperous. While challenges persist, the unwavering commitment of policymakers, stakeholders, and society at large will propel PMKSNY towards realizing its transformative vision for Indian agriculture.
Through comprehensive reforms and strategic interventions, PMKSNY is poised to catalyze a revolution in rural livelihoods, ensuring a brighter and more equitable future for millions of farming families across the nation. In embracing the ethos of PMKSNY, India marches steadfastly towards realizing the aspirations of its agrarian populace, fostering sustainable growth, and securing the foundation of its rural economy for generations to come.
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