The government announced an income support scheme, called Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), for the farmer in the interim Budget 2019. The PM-KISAN scheme, aimed at supplementing the financial needs of the small and marginal farmer, entails a direct cash support of Rs. 6,000 for farmers. The PM-KISAN scheme or Kisan Yojna is estimated to cost the exchequer Rs. 75,000 crore. Under the scheme, small and marginal farmers with less than two hectares of land will get cash in their accounts in three instalments of Rs 2,000 each, the Ministry of Agriculture and Farmers Welfare mentions in the scheme document.
Here are five things to know about the Pradhan Mantri Kisan Samman Nidhi scheme or PM Kisan Yojna for the farmers:
- Under the Kisan Yojna, an income support of Rs 6,000 per year (in three equal instalments) will be provided to the families of small and marginal farmers having a combined land holding/ownership of up to two hectares of land.
- The Kisan Yojna will be effective retrospectively from December 1, 2018 for transfer of benefit to eligible beneficiaries. The government has recognised 12.5 crore such beneficiaries.
- The first instalment - for the four-month period ending March 31, 2019 - under the scheme will be transferred to the eligible beneficiaries in the current financial year (2018-19) itself. The first instalment will be transferred immediately on identification of the beneficiaries, according to the scheme document.
- Quoting Aadhaar is mandatory for claiming benefits under the PM-KISAN scheme, according to the government. The transfer of subsequent instalments will be done only on basis of Aadhaar-seeded database, and beneficiaries not having an Aadhaar card will have to be compulsorily enrolled under Aadhaar, according to the scheme document.
- The income of Rs 2,000 for four months will be directly credited to the bank accounts of eligible farmers in three instalments.