Kisan Samman Nidhi Yojna

Kisan Samman Nidhi Yojna

Kisan Samman Nidhi Yojna is an important initiative introduced by the Indian government to provide financial aid to small and marginal farmers of the country. As the name suggests, it is a pension scheme for farmers to ensure stable income and welfare of the farmers in the long run. This scheme was introduced in February 2019 and it has been beneficial to millions of farmers in the country. I am interested to explore this scheme in detail and understand its impact on the lives of farmers. In this article, I will provide an overview of Kisan Samman Nidhi Yojna, its benefits and challenges faced by the farmers in taking advantage of this scheme.

Contents

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Kisan Samman Nidhi

Kisan Samman Nidhi is a pension scheme launched by the Central Government of India to provide financial assistance to small and marginal farmers. The aim of the scheme is to provide the farmers with social security and improve the financial condition of their families. Under the scheme, the farmers receive a pension of Rs. 6000 per year, provided they are between the ages of 18 to 40. Additionally, the scheme covers landless farmers and agricultural workers who are between the ages of 18 to 60.

As of April 2020, the scheme has covered over 12 crore farmers and has provided Rs. 85,337 crore in financial assistance. The scheme also covers farmers who are suffering from any long-term disabilities or diseases. The scheme provides an opportunity for the farmers to gain access to financial security in their old age and is an important step towards the government’s efforts to reduce rural poverty.

The scheme is being implemented through the Department of Agriculture and Cooperation (DAC) and Ministry of Rural Development (MRD). The scheme is being monitored and evaluated by the respective state governments to ensure that the benefits are reaching the farmers. Furthermore, the scheme provides a secure platform for the farmers to access the needed financial assistance during difficult times.

Overall, Kisan Samman Nidhi is an important initiative by the Central Government of India to provide financial security to small and marginal farmers. This scheme will help alleviate the burden of financial distress faced by the farmers and provide a much-needed sense of security to them.

Eligibility Criteria

Kisan Samman Nidhi Yojna is an Indian Government scheme that provides financial aid to small and marginal farmers across the country. Under the scheme, an amount of Rs. 6000 per year is given to the eligible farmers. This direct cash support is aimed at providing financial assistance to the farmers to help them carry out agricultural activities.

In order to be eligible for the scheme, the farmer must own a cultivable land that is up to 2 hectares. Additionally, the farmer must also be registered under the Small and Marginal Farmers (SMF) category of the National Population Register. Furthermore, the farmer should not receive any financial assistance from the government or any other government-aided schemes.

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As of 2020, the scheme has benefited over 13.72 crore farmers across 33 states and union territories. The scheme has also seen an increase in the number of beneficiaries in the past 2 years and is estimated to be beneficial to more than 14 crore farmers in 2021.

The Government of India has allocated Rs. 95,000 crores for the scheme in 2021-22. The scheme is also closely monitored by the Ministry of Agriculture and Farmers Welfare, who review the beneficiaries list to ensure that the financial assistance reaches the intended recipients.

This scheme is a great initiative taken by the Government of India to support the small and marginal farmers. It provides the much-needed financial cushion to the farmers who are often struggling with poverty and lack of resources. It is a great step towards helping the farmers to sustain their livelihoods and to achieve financial stability.

Benefits

Kisan Samman Nidhi Yojna (PM-KISAN) is a flagship scheme of the Government of India that provides financial assistance to the eligible small and marginal farmers in the country. The scheme was launched in 2019 and aims to provide an income support of Rs 6,000 annually to small and marginal farmers, in three instalments of Rs.2,000 each. This scheme has been welcomed as a major step towards poverty reduction and empowerment of small and marginal farmers.

Under the PM-KISAN scheme, 12.5 crore farmers and their families have benefitted in one year of its implementation. This scheme has enabled farmers to make ends meet, thereby improving their overall quality of life. Furthermore, the scheme has also helped farmers to improve their production resources and technologies, as they have access to affordable credit to purchase inputs and equipment.

This scheme has also been useful in providing financial security to the farmers. It has helped them to meet their basic needs such as food, shelter and medical care. Moreover, the funds provided through this scheme can also be used for any other purpose like investing in agricultural products, or buying tools and machinery for the farm.

Overall, the PM-KISAN scheme is a much-needed step towards ensuring financial stability for small and marginal farmers. It has helped alleviate poverty, improved crop production resources and technologies, and provided financial security to the farmers. According to a report by the NITI Aayog, this scheme is expected to benefit over 90 million farmers by 2021.

Application Process

Kisan Samman Nidhi Yojna is a government scheme that was recently launched to provide financial assistance to small and marginal farmers in India. Under this scheme, a monetary benefit of Rs. 6,000 is given to all small and marginal farmers, distributed in 3 equal installments of Rs. 2,000. To apply for the scheme, farmers must fill out the necessary application form available on the official website of the ministry of agriculture and farmers welfare. They must also submit a copy of their proof of identity, bank account details, and proof of agricultural land along with the application.

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According to the ministry of agriculture and farmers welfare, over 6 crore farmers have already registered themselves for the scheme and the applications are being processed on a priority basis. In addition, the government has set up various mechanisms to ensure that the money reaches the rightful beneficiaries. For instance, Aadhar seeding of bank accounts has been made mandatory to ensure that the money goes to the right farmer.

In order to further simplify the application process, the government also provides mobile applications that allow farmers to apply for the scheme as well as track their application status. Moreover, help desks have been set up in various parts of the country to provide guidance on the application process. Furthermore, different banks have loan waivers for farmers applying for the Kisan Samman Nidhi Yojna to help them cover the application fee.

Overall, the Kisan Samman Nidhi Yojna is an important government scheme that provides financial assistance to small and marginal farmers in India. It is important to

Tax Implication

Kisan Samman Nidhi Yojna is a flagship program of the Government of India, aimed at providing financial support to small and marginal farmers. The scheme was announced in Budget 2019, with an allocation of Rs. 75,000 crore. The program provides an income support of Rs. 6,000 per annum to small and marginal farmers, to be transferred directly into their bank accounts in three equal installments.

The scheme is an important step towards making farming more lucrative and sustainable. It has the potential to benefit around 12 crore small and marginal farmers across the country.

Tax implications of the scheme are quite straightforward. The income support provided to farmers is exempt from income tax. Similarly, the amount received as part of the scheme does not attract any GST or other taxes.

The income support is also tax-free for any agricultural activities carried out by the farmers in lieu of this scheme. This includes selling of agricultural produce, buying of inputs and hiring of labour.

The Government of India has taken a pro-farmer stance by providing this tax-free income support to small and marginal farmers. This could prove to be a game-changer in the agricultural sector and would help increase farmer incomes and reduce rural distress.

Comparison with Other Schemes

Kisan Samman Nidhi Yojna (PM-KISAN), launched in February 2019 by the Government of India, is a major step towards ensuring the welfare of farmers across the country. This scheme provides an income support of Rs.6000/- per annum to small and marginal farmer families, who are holding a valid land ownership certificate. This scheme is beneficial for about 12.5 crore farmer families.

PM-KISAN is a beneficial scheme for farmers, as it provides direct income support to them. This income support helps them to meet their farming and other expenses. Additionally, this scheme is different from other existing agricultural schemes, as it provides direct income support to farmers, rather than providing subsidies and other benefits.

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Another major difference between PM-KISAN and other schemes is that it covers a wider range of agricultural activities. It covers crop, animal husbandry, fisheries, horticulture and farm forestry activities. Other agricultural schemes such as PM-Kisan Maan Dhan Yojna and Pradhan Mantri Kisan Pension Yojana (PMKPY) provide pension based benefits to farmers.

Furthermore, PM-KISAN scheme also provides support to tribal and women farmers, who are particularly vulnerable and lack access to the capital markets. This scheme also provides more support to small and marginal farmers, who face the most difficulty in getting access to the capital markets.

Overall, the Kisan Samman Nidhi Yojna provides a comprehensive package of benefits to farmers across the country. This

Future Prospects

Kisan Samman Nidhi Yojna, launched in 2019, has made an immense contribution to farmers’ lives by providing them with financial assistance. This scheme has been very successful in providing a platform to empower farmers and industrialists by providing them with financial assistance. According to the National Sample Survey Office, the scheme had provided an estimated benefit of Rs. 6,000 crore to over 9 crore farmers in 2019-20. It has also helped in reducing rural poverty in India, as the number of beneficiaries increased to 13.6 crore in 2020-21.

In addition to the financial benefits, the scheme also helps in providing access to a variety of other services related to agriculture such as crop insurance, agricultural loans, and agricultural infrastructure. This will provide farmers with an opportunity to increase their agricultural productivity and income. The scheme has also enabled farmers to become more independent and empowered economically.

The scheme has also encouraged private investment in the agriculture sector, which is expected to help increase agricultural production and productivity. The government is also taking steps to promote research and development in the agricultural sector. This will help the farmers in availing improved technology and increased access to information and markets.

Apart from this, the scheme has also provided market stability to the farmers by providing them with assured prices for their produce. This will help them to increase their income, improve their livelihoods, and be less vulnerable to market volatility. This scheme has immense potential to increase farmers’ productivity and income in future years.

The Kisan Samman Nidhi Yojna has thus

Conclusion

Kisan Samman Nidhi Yojna is a great initiative by the Indian Government to provide financial assistance to small and marginal farmers in India. It has been immensely helpful for farmers to earn a stable livelihood, and to manage their expenses. The scheme has also enabled farmers to stay financially secure and make their lives better. As a result, this scheme has played a major role in the alleviation of poverty in rural areas. Therefore, it is essential that the Government continue to support it for the betterment of the farming community. It is my sincere hope that the Kisan Samman Nidhi Yojna will continue to provide much needed financial assistance to farmers in order to ensure their economic security and well-being.

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