The Finance Minister Piyush Goyal announced Pradhan Mantri Kisan Samman Nidhi Yojana (PMKSNY / PM KISAN) a Farmer Income Support Scheme. All the poor & marginal farmers across India will be given financial assistance of Rs. 6,000 will be given every year.
The finance minister presented interim budget 2019 in the national assembly on 1st February 2019. Many social welfare schemes & subsidies along with tax rebates were announced by him. A budget of Rs. 75,000 crores is allocated for the scheme. The scheme will benefit 12 crore poor farmers in India.
The primary objective of the scheme is to provide income support for farmers & help them purchase various inputs required during the sowing seasons. The amount will be directly transfered to the farmer`s bank accounts in three equal installments.
|Scheme:||Pradhan Mantri Kisan Samman Nidhi Yojana (PMKSNY / PM KISAN)|
|Alternate Names:||PM Kisan Samman Nidhi Yojana / PM-KISAN|
|Benefits:||Financial assistance of Rs. 6,000 every year|
|Beneficiaries:||Small & marginal farmers across India|
|Launched By:||FM Piyush Goyal|
|Launch Date:||1st February 2019|
PM KISAN Yojana Eligibility Criteria:
- Applicable only to farmers
- Applicable across India
- Applicable only for those farmers will less than 2 hectors (5 acres) of land
- Financial assistance of Rs. 6,000 per year
- Amount to be directly transfered to the beneficiaries bank account
- Amount to be paid in 3 equal installments of Rs. 2,000 each
First installment of Pradhan Mantri Kisan Samman Nidhi Yojana to be directly credited to the beneficiary farmer`s DBT account by March 31st 2019. The scheme is applicable from December 2019. The financial assistance can be used for purchasing various agricultural inputs such as seeds, fertilizers & also to pay for labor.
Government of India will also provide 2% rebate on the Kisan Credit Card loans. For all those farmers who repay their loans on time will be given rebate of 3% on KCC loans.