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- Prime Minister Narendra Modi will release the 10th instalment of financial benefits under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), transferring more than Rs 20,000 crore to nearly 10 crore beneficiary farmer families on January 1, 2022.
- PM-Kisan Samman Nidhi (PM-KISAN) was launched in budget 2019 to ameliorate farm distress. The scheme’s original objective to supplement the financial needs of the small and marginal farmers has been broadened to include all the categories of agricultural landowners.
- Need for the Scheme:
- Declining Farm income
- Increase in farm suicide
- Increase in debt of farmers
- Poor investment by farmers in improving the productivity of land.
- Low domestic farm prices.
- Fragmented land holding.
- Annual support of Rs 6,000 to be provided in three Rs 2000 instalments each.
- Entirely funded by Union Government.
- Applicable from retrospective effect from December 2018
- Allocation of Rs 20,000 for the current financial year (2018-19) and Rs 75,000 crore in 2019-20.
- Increase in the Farm income.
- Undertake the investment in improving the productivity of farm land.
- It tries to cover the difference between input cost of farming and realized cost.
- Reduce the indebtedness of the farmer.
Exclusion: Affluent farmers have been excluded from the scheme such as Income Taxpayers in the last assessment year, professionals like Doctors, Engineers, Lawyers, Chartered Accountants etc and pensioners drawing at least Rs.10,000 /- per month (excluding MTS/Class IV/Group D employees).