Prime Minister Narendra Modi will release the 19th instalment of PM KISAN today, February 24, from Bhagalpur, Bihar. As part of the Direct Benefit Transfer scheme, eligible farmers will receive Rs 2,000 every four months, totalling to Rs 6,000 a year, directly credited to their bank accounts. With this, the total amount disbursed under the world's biggest DBT scheme will reach Rs 1.15 lakh crore. Farmers are required to complete their e-KYC to receive the instalment, which can be done on the PMKISAN portal or at CSC centers.
PM Kisan: Ensuring Financial Security for Indian Farmers
Prime Minister Modi's release of the 19th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM Kisan) scheme on February 24th in Bhagalpur, Bihar, marked a significant milestone in India's agricultural landscape. The scheme, launched in 2019, aims to provide financial support to eligible farmers to ensure their well-being and improve their livelihoods.
Background and Implementation
The PM Kisan scheme was introduced as a direct benefit transfer (DBT) program under the Ministry of Agriculture and Farmers' Welfare. It aims to provide a fixed income of Rs 6,000 per year, paid in three equal installments of Rs 2,000 every four months. The scheme is open to all small and marginal farmers, including landowning and tenant farmers.
The funds are transferred directly to the farmers' bank accounts, ensuring transparency and reducing the risk of corruption. Farmers can register for the scheme through the PMKISAN portal or at designated Common Service Centres (CSCs).
Impact and Significance
Since its inception, the PM Kisan scheme has significantly impacted the lives of Indian farmers. The financial assistance has helped them meet their daily expenses, invest in agricultural inputs, and better sustain their farming operations.
The scheme has also played a crucial role in reducing farmers' dependence on moneylenders and other informal credit sources, which often charge exorbitant interest rates. This has contributed to reducing the financial vulnerability of farming communities.
Key Features
Top 5FAQs
1. Who is eligible for the PM Kisan scheme? All small and marginal farmers, including landowning and tenant farmers, are eligible.
2. How do I register for the PM Kisan scheme? Registration can be done through the PMKISAN portal or at designated CSCs.
3. How often are the installments disbursed? Installments are disbursed every four months.
4. How can I complete e-KYC? E-KYC can be completed through the PMKISAN portal or at CSCs.
5. What is the total amount disbursed under PM Kisan? As of February 24th, 2023, the total amount disbursed under the scheme has reached Rs 1.15 lakh crore.
Conclusion
The PM Kisan scheme continues to be a transformative initiative that is empowering the Indian agricultural sector. By providing financial security to farmers, the scheme not only enhances their well-being but also contributes to the overall growth and resilience of the nation's food security system. As the program evolves and expands, it will undoubtedly play an increasingly vital role in ensuring a brighter future for India's farmers and the nation as a whole.
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