Context
The Prime Minister of India released the 12th installment of financial benefit worth 16,000 crore to over 11 crore eligible farmers under the flagship PM-KISAN scheme.
About PM-KISAN scheme
- The Pradhan Mantri Kisan Samman Nidhi (PMKISAN) was launched from Gorakhpur in Uttar Pradesh on 24 February 2019 to supplement financial needs of land holding farmers.
- It is a Central Sector scheme with 100% funding from Government of India.
- Under the scheme financial assistance of Rs.6000 per annum is provided to all landholding farmer families across the country, subject to certain exclusion criteria relating to higher income strata.
Objectives
- To supplement the financial needs of the Small and Marginal Farmers (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 undue reliance on moneylenders for meeting such expenses and ensure their continuance in the farming activities.
