The Prime Minister, Narendra Modi, launched the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) from Gorakhpur. With the launch today, the first instalment of Rs 2,000 will be directly credited to the bank accounts of over one crore farmers.
About:
Scheme Objective: To provide an assured income support to small and marginal farmers.
Salient Features of the scheme:
Under this programme, vulnerable landholding farmer families, having cultivable land upto 2 hectares, will be provided direct income support at the rate of Rs 6,000 per year.
This income support will be transferred directly into the bank accounts of beneficiary farmers, in three equal instalments of Rs 2,000 each.
Implementation Period: The programme would be made effective from 1st December 2018 and the first instalment for the period upto 31st March 2019 would be paid during this year itself.
Funding: This programme will be funded by Government of India and will entail an annual expenditure of Rs 75,000 crore.
Need of the scheme:
The agriculture sector employs over 50% of the workforce either directly or indirectly, and remains the main source of livelihood for over 70% of rural households.
The droughts of 2014 and 2015, ad-hoc export and import policies, lack of infrastructure, and uncertainty in agricultural markets have adversely affected agricultural productivity and stability of farm incomes.
In this background, PM-KISAN is an ambitious scheme that has the potential to deliver significant welfare outcomes.
It aims at boosting rural consumption and helping poor farmers recover from distress. Around 12 crore small and marginal farmer families are expected to benefit from this.
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