The Union Government is implementing a Central Sector Scheme called “Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)” with the aim of enhancing the income of farming families.
The Objective of the PM-KISAN Scheme
The Government has launched the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme with the objective of providing income support to eligible farmer families who own land. The scheme aims to assist farmers in meeting their financial requirements for purchasing necessary inputs, ensuring healthy crops, and achieving expected agricultural yields that align with their anticipated farm income.
Launch Date
The PM-KISAN scheme has been in effect since December 1, 2018. The scheme was officially launched on February 24, 2019.
Benefits and Eligibility Conditions
Income Benefits
- As per the cabinet decision taken in May 2019, all eligible farmer families who own land (subject to exclusion criteria) are entitled to avail of benefits under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.
- The revised version of the scheme aims to extend coverage to approximately 2 crore additional farmers, thereby increasing the total number of beneficiaries to around 14.5 crore.
- Previously, the scheme provided financial assistance to Small and Marginal landholder farmer families with a total cultivable holding of up to 2 hectares.
- These families received an annual benefit of ₹6000, which was disbursed in three equal installments every four months.
Loan Facility
The PM-KISAN scheme provides farmers with the opportunity to access short-term loans through the Kisan Credit Card (KCC) facility. The KCC offers the following features:
- Cheap Interest Rates: Farmers can avail of loans at affordable interest rates, making it easier for them to meet their financial requirements.
- Collateral-Free Loans: Farmers can obtain loans of up to ₹3 lakhs without the need for collateral or security, allowing them to access funds more easily.
- Crop Insurance Coverage: The KCC includes an in-built provision for crop insurance coverage. This helps protect farmers from potential losses due to crop damage or failure.
- Flexible Repayment Options: The KCC offers flexible loan repayment options, allowing farmers to choose repayment schedules that suit their financial situation.
These features of the Kisan Credit Card under the PM-KISAN scheme aim to provide financial support and ease the borrowing process for farmers, ultimately contributing to their overall welfare and agricultural productivity.
Exclusion Categories
The PM-KISAN scheme has specific exclusion criteria, and the following categories of beneficiaries with higher economic status are not eligible to receive benefits under the scheme:
- Institutional Landholders: Individuals or entities that own land as institutions are not eligible.
- Farmer families with members belonging to certain categories:
a. Former and present holders of constitutional posts.
b. Former and present Ministers/ State Ministers and former/present Members of LokSabha/RajyaSabha/State Legislative Assemblies/State Legislative Councils, former and present Mayors of Municipal Corporations, former and present Chairpersons of District Panchayats.
c. All serving or retired officers and employees of Central/State Government Ministries/Offices/Departments and their field units, Central or State Public Sector Enterprises (PSEs), and Attached offices/Autonomous Institutions under the Government. This also includes regular employees of Local Bodies, except for Multi-Tasking Staff/Class IV/Group D employees.
d. All superannuated/retired pensioners whose monthly pension is ₹10,000/- or more (Excluding Multi-Tasking Staff/Class IV/Group D employees) of the above category.
e. Individuals who have paid income tax in the last assessment year.
f. Professionals such as Doctors, Engineers, Lawyers, Chartered Accountants, and Architects registered with professional bodies and actively practicing their profession.
These exclusions are in place to ensure that the benefits of the PM-KISAN scheme reach the intended beneficiaries, primarily small and marginal farmers who are in need of financial support.
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