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All You Need To Know About Pradhan Mantri Kisan Samman Nidhi Yojana

IndianMoney.com Research Team | Posted On Wednesday, March 27,2019, 04:19 PM

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All You Need To Know About Pradhan Mantri Kisan Samman Nidhi Yojana

 

 

What Is Pradhan Mantri Kisan Samman Nidhi Yojana?

Pradhan Mantri Kisan Samman Nidhi Scheme (PMKSNY) is an initiative taken by the Central Government of India. It is a scheme under which nearly 120 million small and marginal Indian farmers, owning less than 2 hectares (4.9 acres) of land, would get up to Rs 6,000 (USD 83) a year, as support of minimum income.

The Pradhan Mantri Kisan Samman Nidhi Yojana was announced by Piyush Goyal, the then acting finance minister, in the 2019 Interim Union Budget of India, on 1st February 2019. The scheme would cost aroundRs 75,000 Crores (USD 10 Billion) each year and will be effective from December 2018. A sum of Rs 6,000 a year would be paid to each eligible farmer over three installments of Rs Two Thousand each. The benefits of the PMKSNY scheme would directly be transferred to the beneficiaries’ bank account.

On 24th February 2019, Narendra Modi, the Prime Minister of India, announced the launch of the the Pradhan Mantri Kisan Samman Nidhi Yojana at Gorakhpur, Uttar Pradesh. Prime Minister Modi transferred Rs 2,000 to more than 1 Crore to the eligible farmers. Vivek Agarwal was appointed as the CEO, of the PMKSNY scheme.

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SEE ALSO: Pradhan Mantri Kisan Samman Nidhi Yojana

All You Need To Know About Pradhan Mantri Kisan Samman Nidhi Yojana

Objective of the PMKSNY

The Pradhan Manti Kisan Samman Nidhi Yojana was launched with the following objectives:

  • To augment the income of Small and Marginal Farmers, the Government of India has launched a new scheme by the name "Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)".
  • The PMKSNY scheme targets SMFs in obtaining various inputs to ensure proper crop health and appropriate yields.
  • This would also protect the farmers from falling prey to money lenders for meeting such expenses and ensures the continuity in the farming related activities. Therefore, this scheme enhances the overall productivity of the nation thus increasing the overall GDP of India.

Eligibility for PMKSNY

Following is the eligibility of the Pradhan Mantri Kisan Samman Nidhi Yojana:

  • As the scheme is sponsored by the Central Government of India, only Indian farmers are eligible for benefits of the scheme.
  • All farmers that are categorized under small and marginal agricultural laborers are permitted to apply for the scheme.
  • If the farmer holds ownership rights of more than 2 acres of land, then he or she is not eligible to avail the benefits of Pradhan Mantri Kisan Samman Nidhi Yojana scheme.

The following categories of beneficiaries of high economic status are not eligible to receive the benefits under the Pradhan Mantri Kisan Samman Nidhi Yojana scheme.

  • All institutional landholders.
  • Farmer families where one or more members belong to the following categories.

i) Former and present members of constitutional posts.

ii) Former and present Union and State  Ministers, former and current Members of Lok Sabha (LS), Rajya Sabha (RS), State Legislative Councils (SLC), State Legislative Assemblies (SLA), former and current Mayors of Municipal Corporations, former and present Chairpersons of District Panchayats.

iii) All current and retired officers and employees of the Central and State Government Ministries or offices or departments and its field units, Central or State PSEs and attached offices or autonomous institutions under the State and Central Governments, and regular employees of the Local Bodies which exclude Multi Tasking Staff or Class IV or Group D employees.

iv) All superannuated or retired pensioners whose monthly pension exceeds Rs 10,000.

v) Individuals who had paid Income Tax in the previous year of assessment.

vi) Professionals like engineers, doctors, lawyers, chartered accountants and architects registered under professional bodies and carrying out profession by undertaking practices.

Highlights of PMKSNY

Highlights of the Pradhan Mantri Kisan Samman Nidhi Yojana are given below.

  • Pradhan Mantri Kisan Samman Nidhi Yojana helps farmers live a respectable life.
  • This scheme was proposed by the Central Government of India to make sure of income assistance to the small and marginal farmers.
  • The weaker peasant families having cultivable land of less than 2 Hectares would be receiving Rs 6,000 as direct income assistance.
  • The scheme’s funding would be done by the Central Government of India over three equal installments of Rs 2000 each or the farmers would receive an income of Rs 500 each month.
  • Nearly 12 Crores small and marginal farmers would be benefiting from the Pradhan Mantri Kisan Samman Nidhi Yojana scheme.
  • The first installment would be paid out by 31st March 2019.
  • The Pradhan Mantri Kisan Samman Nidhi Yojana scheme would cost a whopping Rs 75,000 Crores to the Government of India.
  • There is no room for corruption as the benefits of the scheme are directly transferred to the bank accounts of the beneficiaries.
  • PMKSNY would not offer additional income to the impoverished farmers, instead, it helps them with emerging needs of the crop season.

Strategy for Implementation 

Responsibility of identifying the eligible beneficiaries of the scheme lies with the Government of State or Union Territories. The states are given the responsibility to furnish the database of the beneficiary landholder farmers of all villages by collecting information like Name, Aadhaar number or Aadhaar enrollment number for the candidates not having Aadhaar card.

For beneficiaries in the states of Meghalaya, Assam, Jammu and Kashmir, where Aadhar card has not been issued, other prescribed documents are obtained for the purpose of identity verification. States and Union Territories would ensure that there is no repetition in the payments made to eligible farmers.

Advantages of the PMKSNY

Following are the benefits of the scheme:

  • Landholder farmers with a total cultivable land of up to 2 hectares would receive six thousand Rupees per annum over three equal installments of two thousand Rupees each.
  • The first installment would be paid to all eligible beneficiaries for the financial year 2018-19 for the period from 01.12.2018-31.03.2019.

Requisite Documents 

Following are the documents required for the Pradhan Mantri Kisan Samman Nidhi Yojana scheme:

  • Nationality certificate
  • Land ownership documents
  • Aadhaar number

PMKSNY Application Process 

The Central Government of India has taken all necessary steps to implement the scheme, there is no information regarding the application procedure. State and Central Governments would work together to make the benefits reach the eligible individuals.

Reviewing, Monitoring and Grievance Redressal

There is a strategic review or monitoring mechanism setup at the national, state and district levels. The national review committee is headed by the cabinet secretary. Any claims or grievances would be disposed on merit within two weeks,

PM Kisan Portal

Beneficiaries of the scheme are identified by the Governments of states and union territories. Details of the eligible farmers are maintained by the states or union territories in electronic or the manual registry. To have an integrated programme available to assist benefits transfer, a platform by the name ‘PM Kisan Portal’ has been launched to upload the Small and Marginal Farmers’ SMF, details.

Objectives of PM Kisan Portal

Following are the objective of PM Kisan portal:

  • To offer a verified and single source of SMF details in the portal.
  • Timely help to the farmers related to farming activates.
  • A unified platform to transfer benefits directly into the farmers’ bank account through PFMS integration.
  • Region wise availability of the list of benefited farmers.
  • Ease of monitoring fund transactions across India.

Timelines

All state and union territory governments have been directed to identify the list of beneficiaries at the earliest so that the first installment of the year under the scheme can be transferred within 31st March 2019.

Validity of the Beneficiaries

The list of beneficiaries identified by the states and union territories are valid for one year. But, the states and union territories are allowed to upload subsequent names of eligible beneficiaries. Officials must come up with a mechanism to ensure that the revision of the list is made every now and then.

See Also: Pradhan Mantri Fasal Bima Yojana

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