Introduction to PM Kisan Nidhi
The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) is a flagship government initiative that provides financial assistance to farmers across India. This ambitious initiative, which was launched in 2019, has been essential in improving the livelihoods of millions of farmers and bolstering the agricultural economy.
Aiming for Farmers’ Welfare
The major goal of PM Kisan Nidhi is to ensure farmers’ economic well-being through direct income support. Under this program, qualifying farmers receive a 6,000 annual stipend paid directly into their bank accounts in three equal installments.
Inclusive Coverage of Farmers
PM Kisan Nidhi takes a broad strategy, reaching out to farmers from all around the country. It includes small and marginal farmers, who frequently face financial constraints, as well as landholding farmers.
The Significance of Direct Benefit Transfer
The use of Direct Benefit Transfer (DBT) in the execution of PM Kisan Nidhi ensures transparency and reduces leakages. DBT guarantees that financial help reaches the intended beneficiaries without the need of intermediaries, reducing corruption and guaranteeing that farmers receive the entire benefit.
Boosting Agricultural Investments
PM Kisan Nidhi enables farmers to invest in agricultural operations with more confidence by offering a continuous stream of income. This increase in investment adds to higher agriculture production and overall sector growth.