Prime Minister Narendra Modi established PM-Kisan Plan on February 24 2019, in Gorakhpur, Uttar Pradesh. Under this strategy, all small and marginal farmers will be supplied with the financial assistance of Rs 6000 each year in three instalments deposited directly to their bank balances. The total yearly cost for this strategy is forecast to become Rs 75000 Crore that the Union Government will finance.

Important Truth about PM Kisan Samman Nidhi strategy

Prime Minister Kisan Yojana is administered by the division of agriculture, Cooperation, Farmers Welfare, Ministry of Agriculture and Farmers Welfare, Government of India in partnership with the LifeInsurance corporation of India.
It is just a voluntarily, and regular contribution-based pension system meant for most of your landholding small and Marginal farmers throughout the nation, subject to exclusion criteria.
Their state and union territories will have the choice of sharing the burden of individual SMF beneficiary contributions.
The regular monthly contribution will vary between Rs.55 to Rs.200 a month depending upon the age of entrance of their farmers in the Scheme.

The aims of PM Kisan Samman Nidhi Scheme

They are offering Revenue assistance to all the eligible land holding farmers and their own families.
The PM-Kisan Scheme aims to simplify the farmer’s fiscal needs in procuring various inputs to guarantee appropriate harvest health and appropriate returns, which complies with the farm income.
The strategy is predicted to increase the policy of PM-KISAN to approximately 14.5 crore beneficiaries. In addition, it aims to cover approximately two crores more farmers with an estimated cost of Rs. 87,217.50 crores which the Central Government will finance.

Documents needed to use for PM Kisan Samman Nidhi Scheme:

Declaration certification
Landholding newspapers
Aadhaar card
Bank account particulars

Who are exempted from this scheme:

The farmers, in addition to any member of the household from these categories:
Present and previous winners of constitutional posts
Present and former Ministers/ State Ministers
Present and former members of LokSabha/ / RajyaSabha/ State Legislative Assemblies/ State Legislative Councils
Present and Former Mayors of Municipal Corporations
Present and Former Chairpersons of District Panchayats.
Any serving or retired officers in addition to workers under the Central/ State Government Ministries /Offices/Departments.
All retired pensioners get a monthly pension of Rs.10,000/or more and belong to the above-mentioned category.
Any individual that paid their income tax in the previous assessment year is not eligible under this Scheme.
Professionals like Doctors, Engineers, Attorneys, Chartered Accountants, and Architects registered with Professional bodies and executing their livelihood by job Techniques are not eligible to benefit under this Scheme.

Advantages of PM Kisan Scheme

Direct fund transfer is one of the most significant benefits of this strategy. For example, on December 25, 2020, in the presence of Prime Minister Narendra Modi, Rs 18000 Crores had been directly moved to the bank account of 09 crore farmers.
Each of the farmer’s info is enrolled officially on a virtual platform. This method made enrollment and fund transfer easy. In addition, the digitalized recordings have attracted a fresh start for this welfare scheme.
This Scheme alleviates liquidity limitations of farmers
PM-KISAN yojana is just a big step towards bettering the method of practising agriculture
beneficiaries of the PM Kisan scheme are chosen without any discrimination of any type. A very fair system is deployed to ensure no legit Farmer is deprived of its anticipated benefits.