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On Thursday, Prime Minister Narendra Modi presented the 14th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) project, worth Rs 17,000 crore, to 85 million farmers during a ceremony in Sikar, Rajasthan.
Since the direct cash transfer mechanism was implemented in February 2019, more than Rs 2.59 trillion has been transferred to farmer bank accounts. Farmers receive a yearly monetary support of Rs 6,000 in three equal payments under the program.
Farmers with land holdings that meet certain exclusion criteria now receive financial assistance from PM Kisan. According to agricultural ministry officials, a database is being created to help identify PM Kisan and other plan recipients more quickly.
According to the International Food Policy Research Institute (IFPRI), PM-KISAN funds have assisted farmers in meeting their agricultural needs as well as other expenses such as education, healthcare, and marriage.
Modi said that the establishment of 0.12 million PM Kisan Samriddhi Kendras (PMKSKs), where farmers can access equipment, seeds, fertilizers, and soil testing facilities, will “directly benefit crores of farmers at the village and block level.”
He stated that 0.17 million more PMKSKs will be created before the end of the year.
He introduced sulfur-coated urea, sometimes known as “urea gold,” which officials claimed would address the country’s soil sulphur shortfall while also lowering farmers’ input costs. According to officials, regular urea absorbs 30% of nitrogen, neem-coated urea 50%, and nano urea 80%.
Modi stated that the addition of 1,600 farmer-producer organizations (FPOs) to the open network for digital commerce (ONDC) platform will “make it easier for farmers to take their produce to market from any part of the country.” More than 3,000 agricultural commodities, including millets, spices, beverages, fruits, vegetables, and cereals, are currently being marketed on the ONDC platform.
More than 6,300 FPOs have been registered thus far, with a goal of producing 10,000 FPOs by 2025.
Narendra Modi Focus on Agricultural Industry
As we approach 2023, India’s Prime Minister, Narendra Modi, has taken substantial steps to help the country’s agricultural industry. In an unprecedented action, Prime Minister Narendra Modi has disbursed Rs 17,000 crore directly to 85 million farmers through the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme. Despite being one of the largest of its kind in the world, the project demonstrates the Indian government’s dedication to agriculture and farmer welfare.
The PM-KISAN scheme, which was launched in December 2018, is an income support scheme for India’s small and marginal farmers. The initiative intends to augment these farmers’ financial needs by providing them with a direct cash reward. The plan was designed to help farmers in need, particularly those with fewer than two hectares of land, with urgent challenges and financial stress.
PM-KISAN provides qualified farmers with up to Rs 6,000 per year in three equal installments. To promote transparency and avoid the possibility of corruption or misappropriation of cash, the funds are directly transferred into the farmers’ bank accounts.
PM Modi’s most recent distribution of Rs 17,000 crore benefits India’s farmers greatly. Notably, the benefit would be extended to 85 million farmers, representing a sizable share of India’s farming population.
The government’s Direct Benefit Transfer (DBT) system allowed monies to be transferred directly into the bank accounts of beneficiaries. This assured that the process was safe and efficient. This action boosts the federal government’s transparency measures while also highlighting the benefits of harnessing digital technology for governance and social welfare.
The impacts of this capital transfer go far beyond financial assistance. The project empowers farmers by putting money directly into their hands, allowing them to make independent decisions about their farm operations, such as investing in better quality seeds, new technology, or additional resources to increase crop yield.
Furthermore, the monetary injection into the rural economy can promote local firms, creating new jobs and contributing to overall economic growth. Furthermore, the government’s financial certainty can improve farmers’ mental health by lowering stress caused by financial uncertainties.
PM KISAN Scheme
While the PM KISAN scheme has been lauded for its innovative initiatives and significant positive impacts on farmers’ lives, it is not without obstacles. Some critics argue that the identification and selection of beneficiaries could be improved. This is critical to ensuring that the plan benefits all people in need and that help does not trickle down to ineligible recipients.
Furthermore, the scheme’s influence on agricultural productivity and sustainability has yet to be fully investigated. As the government continues to implement the PM-KISAN plan, it will be critical to assess its effects and make any required adjustments to enhance its effectiveness.
PM Modi’s recent payment of Rs 17,000 crore to 85 million farmers under the PM-KISAN scheme is a watershed moment in the government’s attempts to improve the well-being of India’s farming community.
The effort is an important step toward recognizing the importance of agriculture in the Indian economy and the importance of protecting farmers’ interests. While there are still obstacles, the government’s commitment to agricultural reforms and farmer welfare cannot be overstated. As India progresses, the advantages of such projects will surely play an important role in molding the country’s agricultural landscape.