The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan Yojana) is a government scheme through which, all small and marginal farmers will get up to Rs 6,000 per year as minimum income support. This 75,000-crore scheme aims to cover 125 million farmers, irrespective of the size of their landholding in India. The PM Kisan Scheme will cost Rs 75,000 crore per annum. It will benefit about 12.5 crore farmers. The government had announced the scheme in 2018’s budget.
Benefits of PM Kisan Samman Nidhi Yojana
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- The scheme provides direct benefit transfer (DBT) of 5,000 rupees per annum to small and marginal farmers over 6 years from the date of commencement of the scheme, i.e., from the year 2019-20 to 2024-25.
- The scheme intended to facilitate credit flow to agriculture sector. It helps in removing financial constraint faced by the farmers. It also provides ‘ease of operations’ to the farmers. The scheme provides 50 percent loan waiver to the farmers whose loan amounts are less than 1.5 lakh rupees.
- The scheme has provisions to provide 10 per cent interest subvention along with 50 per cent waiver on crop insurance premium. It also provides 50 per cent waiver on power tariff and 50 per cent discount on fertilisers.
- The scheme provides 2 percent interest subvention and 50 per cent waiver on interest subvention.
- The scheme provides crop loan of 1 lakh rupees at a concessional rate of interest of 2.5 per ent per annum for 3 crops in a year.
- The scheme provides waiver on cess and Krishi Kalyan Cess.
- The scheme provides subsidy for purchase of agriculture implements.
- The scheme provides subsidy for procurement of agricultural produce.
How to Apply Online in PM Kisan Samman Nidhi Yojana?
- Step 1: Visit the official link https://pmkisan.gov.in/
- Step 2: Click on ‘Apply Online’.
- Step 3: Click on ‘Apply Now’.
- Step 4: Fill the application form and submit it.
- Step 5: Take a print out of the application.
- Step 6: Submit it to the office of concerned nodal agency.
- Step 7: Once the application is processed, the beneficiary will get an SMS and an email.
How to Apply Offline in PM Kisan Samman Nidhi Yojana?
- Step 1: Pay Rs 50 at any Post Office.
- Step 2: Fill the application form and submit it.
- Step 3: Take a print out of the application.
- Step 4: Submit it to the office of concerned nodal agency.
- Step 5: Once the application is processed, the beneficiary will get an SMS and an email.
When was this PM Kisan Samman Nidhi Yojana launched?
This scheme was launched by the Prime Minister Narendra Modi on 17th September, 2017.
What is the purpose of this PM Kisan Samman Nidhi Yojana?
The main objective of this Yojana is to support farming community in the villages by providing them the best quality farm implements free of cost.
Who is eligible to avail this PM Kisan Samman Nidhi Yojana?
All farmers, agricultural laborers and their family members are eligible to apply for this Yojana.
What are the features of this PM Kisan Samman Nidhi Yojana?
The features of this scheme are as under:
- The scheme will support the farmers by providing them the best quality farm implements, free of charge.
- The beneficiary will be provided loans at a concessional interest rate of 2% per annum.
- The maximum loan amount will be Rs 1 lakh, which can be spread over 5 years.
- The beneficiary can get one or more than one loan under this Yojana.