Pradhan Mantri Kisan Samman Nidhi (PM Kisan): 11th instalment

Prime Minister Narendra Modi released the 11th instalment of the Pradhan Mantri Kisan Samman Nidhi (PMKisan) scheme in Shimla.

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is a Centre-sponsored scheme launched in February 2019.
Nodal Ministry: Ministry of Agriculture and Farmers Welfare.
Objective
- To provide income support to all Small and Marginal land holding farmer families having cultivable land
- Aims to supplement the financial needs of the farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income.

Benefits Under the Scheme
- A benefit of Rs.6000 per annum per family payable in three equal instalments, every four months through Direct Benefit Transfer
Beneficiaries
- The scheme was initially meant for Small and Marginal Farmers having land holding upto 2 hectares but scope of the scheme was extended to cover all landholding farmers.
Funding Pattern
- 100% funding from the Government of India.
Identifying Beneficiaries
- The state government or the UT government is solely responsible for identifying the eligible farmers’ families for providing benefits under this scheme.

PM-Kisan credit cards:
- The government launched the Kisan Credit Card (KCC) scheme in 1988 that provides farmers timely access to credit.
- The government has linked the KCC with the PM-Kisan scheme.
- Features of the PM-Kisan credit card:
  - Loans are provided at a low-interest rate of 2% to 4%
  - Collateral free loans up to Rs.3 lakh are provided.
  - In-built crop insurance coverage.
  - Flexible repayment option of the loans.

Pic Courtesy: National Informatics Centre, freepik

Content Source – The Hindu