The growth of agriculture in India is not possible without the contribution of the farmers. The farmers play an essential part in ensuring the food security of India. At times, farmers face greater economic pressure due to rising costs of seeds, fertilizers, pesticides, labour and irrigation. Weather conditions and changes in the cost of production of the crops are some other factors that cause problems for farmers. In order to provide additional economic support to the farmers, the Government of India launched a scheme named Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) in 2019.
Financial Assistance to the farmers:
This is a scheme that has been introduced by the government of India. The purpose of this scheme is to provide financial assistance to the eligible farmer families. The main purpose of the scheme is to reduce the cost of agriculture. The financial assistance is directly transferred to the bank account of the farmer.
PM-KISAN Scheme has been introduced in February 2019:
The Government of India launched the scheme of PM-KISAN in February 2019. The main objective behind launching such scheme was to assist the farmers, especially those that lack funds.
Financial aid of ₹6,000 per annum:
With the help of PM-KISAN scheme, farmers’ household get the financial aid of ₹6,000 per year. In normal circumstances, financial aid consists of three equal payments of ₹2,000 each. These regular payments help the farmers get certain funds during the farming season.
Assist farmers in paying farming costs:
In order to continuously invest in seeds, fertilizers, pesticides, labor, irrigation and many more, there is a need to make regular investments. Farmers can use the financial assistance provided by PM-KISAN scheme to pay these costs. The financial aid to farmers even in small quantity is useful to them while they cultivate their lands for the coming crop season.
Transfers directly promote transparency:
Perhaps one of the most crucial features of the PM-KISAN scheme is the direct transfer of the financial aid directly into the bank account of the beneficiary. The direct benefits transfer ensures that the process is transparent by not involving any middlemen. In this way, farmers can reap the benefits without the involvement of any third parties for receiving their financial aid.
Technology makes the monitoring process easier:
The PM-KISAN scheme makes heavy use of digital technology when it comes to the registration, verification and payments processes. The farmers can access the information about themselves and their beneficiaries through the official website. The digital records help monitor the entire process of the scheme.
The e-KYC is used for identifying the beneficiaries:
The e-KYC process is an important part of the PM-KISAN scheme. This helps verify the identity of the beneficiary and helps provide the financial assistance to the farmers who deserve it. The regular verification would minimize errors and duplications.
Financial aid to eligible farmer families:
PM-KISAN Scheme provides financial assistance to eligible farmer families in India. This kind of financial assistance can help the farmers cover some portion of their agricultural and domestic expenses according to the stage of the crop cycle. Therefore, PM-KISAN Scheme is yet another example of financial assistance to eligible farmers and their families.
Financial assistance alone cannot solve all problems:
Although PM-KISAN Scheme provides some amount of financial assistance to farmers, this kind of assistance alone is not sufficient to address all problems of farmers. In addition to financial aid, the farmers require improved facilities of irrigation, low-priced inputs, advanced technology, crop insurance, storage facility and marketing opportunities. Thus, the PM-KISAN Scheme should run parallel to other schemes facilitating agriculture development.
Contribution to rural and agriculture development:
Financial assistance to farmers can also contribute to the development of rural and agriculture economy. With increased financial sources available to farmers, they will be able to invest in their agriculture and other requirements. Hence, the rural economy will receive stimulus and the agriculture industry will also develop further.
Increases financial inclusion among farmers:
With the help of the PM-KISAN scheme, the eligible farmers will be encouraged to utilize the banking facilities as the amount gets credited to the bank account of the farmers. The scheme allows the farmers to get access to banking facilities and make use of the financial assistance from the government.
Helps farmers during crop cycle:
The prompt payments under the PM-KISAN scheme will help the farmers to get some additional financial assistance during the time when they are engaged in farming activities.
Conclusion:
PM-KISAN is an important initiative in providing financial support to the farmers who are eligible for it in India. This program will give extra money to the farmers to help them bear the expenses incurred in farming. Moreover, direct cash transfers through digitization have made this program more effective and transparent. However, development in the field of Indian agriculture is not just limited to providing financial aid but also depends upon seeds, cheap inputs, irrigation, technology, storage facilities, markets and remuneration of the crops. Therefore, PM-KISAN program should be seen as one component of this overall strategy in enhancing the quality of life of farmers. If this scheme is implemented successfully along with other agricultural schemes, it can be helpful in making the farming community stronger in India.
Author
M.Sc (Agriculture) in Agronomy, Centurion University of Technology and Management, Paralakhemundi, Odisha, 761211
B.Sc Agriculture, The Neotia University, South 24 Parganas , West Bengal, 743368
