According to the Union Agriculture Ministry, the number of beneficiaries of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), in which Rs 6,000 is transferred annually to farmers’ bank accounts in three equal instalments, has surpassed 100 million, up from 31 million at the start of the scheme in February 2019.
In over 3 years, financial assistance of more than Rs 2 trillion has been provided to the needy farmers under PM Kisan as direct income support, the ministry said. “More than Rs 1.6 trillion has been transferred since the lockdown due to Covid pandemic,” it noted.
PM Kisan
Prime Minister Narendra Modi released the 12th instalments worth Rs 16,000 crore under PM-KISAN to farmers last month. The government has allocated Rs 68,000 crore for the PM Kisan in the current fiscal, which was marginally higher than the Budget estimates of Rs 65,000 crore for 2021-22.
According to the agriculture ministry, the scheme was launched with farmer eligibility determined by self-certification. “Over time, improvements have been made in the way farmers are registered and verified by the states,” it said.
Farmers with land holdings are currently receiving financial assistance from PM Kisan. According to agriculture ministry officials, a database is being created to help identify beneficiaries of PM Kisan and other schemes more quickly.
According to the statement, the government has begun steps to build a digital ecosystem for agriculture, or Agri stack, by utilising digital technologies in the implementation of PM KISAN.
Productive investment in agriculture
“There are many studies and findings, which indicate that the PM KISAN scheme has helped farmers towards productive investment in agriculture activities. This, in turn, through a multiplier effect, has contributed to the overall improvement of the agricultural sector,” according to an official statement.
The agriculture ministry stated that in an empirical study conducted in association with Indian Council for Agricultural Research (ICAR), the International Food Policy Research Institute (IFPRI), found that the scheme has enabled greatly in addressing the liquidity constraints of farmers for buying agricultural inputs.
“Further, for the small and marginal farmers, it has not only helped them to meet their requirement of funds for farm inputs, but also for their daily consumption, education, health and other incidental expenses,” according to the IFPRI study.
