The beneficiaries under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), in which Rs 6,000 is annually transferred to farmers’ bank accounts in three equal installments, have crossed 100 million, up from 31 million at the beginning of the scheme in February 2019, according to the Union agriculture ministry.
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.
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.
The agriculture ministry said that the scheme was initiated with eligibility of the farmers determined on self-certification. “Improvements have been made overtime in the way farmers are registered and verified by the states,” it stated.
Currently financial assistance under PM Kisan is provided to farmers with land holdings. According to agriculture ministry officials, a database is being created for faster identification of beneficiaries under PM Kisan and other schemes.
Through use of digital technologies in implementation of PM KISAN, the Government has also initiated steps for building a digital ecosystem for agriculture or Agri stack, according to the statement.
“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.
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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