PM Kisan Samman Nidhi Yojna is a revolutionary initiative aimed at providing direct income support to farmers across India. Launched by the Government of India in February 2019, the scheme aims to supplement the financial needs of small and marginal farmers who have landholding up to 2 hectares. Under this scheme, eligible farmers receive direct income support of Rs. 6,000 per year in three equal installments of Rs. 2,000 each. Directly transferring the amount into the bank accounts of the beneficiaries helps them meet their agricultural expenses and improve their overall financial condition.
PM Kisan Samman Nidhi Yojna Advantages
One of the key advantages of PM Kisan Samman Nidhi Yojna is its inclusive approach, covering farmers from all parts of the country, irrespective of their caste, religion, or region. This ensures that the benefits reach those who need them the most, thereby contributing to the socio-economic development of rural India.
Another key advantage of the PM Kisan Samman Nidhi Yojna is its role in promoting financial inclusion. By ensuring that funds are transferred directly to the bank accounts of farmers, the scheme encourages the use of formal banking channels among the rural population. This not only fosters a culture of saving and financial planning but also reduces the reliance on informal credit sources, which often come with exorbitant interest rates and exploitative terms. The transparency and efficiency of the direct benefit transfer mechanism also help in minimizing leakages and ensuring that the intended beneficiaries receive the full amount without intermediaries siphoning off funds.
Overall, PM Kisan Samman Nidhi Yojana plays a crucial role in ensuring the well-being of farmers and fostering agricultural growth, thereby contributing to the vision of a prosperous and self-reliant India.
For more information like this visit our official site Khetikibaat.