Government Scheme of the day : Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan Yojana)

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Pradhan Mantri Kisan Samman Nidhi Yojana Government Scheme of the day

General awareness is considered to be the high scoring section in any competitive exam. It includes two main portions, current affairs GK and static GK. In this article, we will discuss some really important Banking Awareness topics that are covered in almost all competitive exams. Also, you can download the PDF of Government Scheme of the day (Pradhan Mantri Kisan Samman Nidhi Yojana)

In a series of sharing useful study material for upcoming banking exams. Here, we are providing  notes for all banking Exams (IBPS, SBI & Other Banking Exams).


 Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan Yojana)


 

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.
When did the PM-Kisan scheme come into effect?
The PM Kisan Yojana came into effect from December 1, 2018. It was launched by prime minister Narendra Modi-led government.
PM Kisan Yojana explained
Under the PM Kisan Yojana, income support of Rs 6000 per annum is provided to all eligible farmer families across the country in three equal installments of Rs 2,000 each every four months. The scheme defines family as husband, wife and minor children. The fund of Rs 2,000 is directly transferred to the bank accounts of the farmers/farmer’s family.

Objectives of PM-KISAN scheme

Pradhan Mantri Kisan Samman Nidhi Yojana is implemented as a central sector scheme by the Government of India. This scheme was introduced to augment the source of income of many small and marginal farmers. The main objectives of the PM-KISAN scheme are mentioned below:

  • To provide income support to all eligible land-holding farmers and their families.
  • PM-KISAN scheme also aims to supplement the financial needs of the farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income.
  • The scheme is expected to increase the coverage of PM-KISAN to around 14.5 crore beneficiaries. It aims to cover around 2 crores more farmers with an estimated expenditure of Rs. 87,217.50 crores that will be funded by the Central Government for the year 2019-20.
Who is eligible for PM Kisan scheme?
  • Landholding farmers’ families with cultivable landholding in their names can apply under this scheme
  • Farmers from both the urban and rural areas
  • Small and marginal farmers families
Who is not eligible for PM Kisan scheme?
  • Institutional landholders
  • Present or retired officers and employees of state/central government as well as PSUs and government autonomous bodies.
  • Beneficiaries with higher economic status are not eligible.
  • Those who pay income tax
  • Farmer families holding constitutional posts
  • Professionals like doctors, engineers and lawyers
  • Retired pensioners with a monthly pension of over Rs 10,000

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