Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)
PM-KISAN is a central sector scheme launched on 24th February 2019 to supplement financial needs of land holding farmers, subject to exclusions. Under the scheme, financial benefit of Rs. 6000/- per year is transferred in three equal four-monthly installments into the bank accounts of farmers’ families across the country, through Direct Benefit Transfer (DBT) mode. Till now, Rs.
2.81 lakh crores have been transferred through Direct Benefit Transfer (DBT) to more than 11 crores beneficiaries (Farmers) through various instalments.
Crop Insurance Schemes
Crop Insurance Schemes in India are designed to provide financial support to farmers in case of crop loss due to various risks such as natural calamities, pests, or diseases. Here are some key crop insurance schemes implemented by the Government of India
PM Kisan Maan Dhan Yojana
The Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY) offers social security to Small and Marginal Farmers (SMFs) in their old age, providing a minimum pension of Rs. 3000 per month upon reaching age 60. The scheme is managed by the Life Insurance Corporation (LIC) and is funded by contributions from the farmer and an equal match from the government.