Major schemes for farmers: Apart from the PM Kisan Yojana, these schemes are proving to be a boon for farmers..

The Indian government is running numerous schemes for farmers. However, information about only a few schemes reaches farmers. Due to a lack of information, many farmers are unable to take advantage of these schemes. Today, the PM Kisan Yojana is the only scheme that most farmers are aware of. However, there are other important schemes that farmers should definitely know about.

Let's find out which schemes, besides the PM Kisan Yojana, are truly a boon for farmers. We will explain these major schemes through a table. We will also explain the name of the scheme and its special features.

These schemes are proving to be a boon for farmers
Major schemes for farmers

1. Pradhan Mantri Kisan Samman Nidhi (PM Kisan Yojana): PM-KISAN is a central sector scheme launched on February 24, 2019, to meet the financial needs of farmers, except for a few. Under this scheme, financial assistance of ₹6,000 is transferred annually to the bank accounts of farmer families across the country in three equal, four-monthly installments through Direct Benefit Transfer (DBT) mode.

2. Prime Minister Kisan Maandhan Yojana (PM-KMY): The Prime Minister Kisan Maandhan Yojana (PM-KMY) is a central sector scheme launched on September 12, 2019, to provide security to the most vulnerable farmer families. PM-KMY is a contributory scheme. Small and marginal farmers (SMFs), under certain conditions, can become members of this scheme by contributing monthly to a pension fund. The central government will also contribute an equal amount.

Applicants between the ages of 18 and 40 will be required to contribute between ₹55 and ₹200 per month until they reach the age of 60. PMKMY takes care of farmers in their old age and provides a monthly pension of Rs 3,000 to registered farmers upon reaching the age of 60, provided they meet the exclusion criteria.

3. Prime Minister's Crop Insurance Scheme (PMFBY): PMFBY was launched in 2016 to provide farmers with a simple and affordable crop insurance product, ensuring complete protection against all unavoidable natural risks from sowing to post-harvest, and ensuring fair claim amounts.

4. Modified Interest Subvention Scheme (MISS): The Interest Subvention Scheme (ISS) provides concessional short-term agri-loans to farmers engaged in crop cultivation and other related activities such as animal husbandry, dairy, and fisheries. The ISS is for farmers who avail of a short-term crop loan of up to ₹3.00 lakh at an interest rate of 7% per annum for one year.

Farmers are also provided an additional 3% subsidy for timely and prompt repayment of the loan, reducing the effective interest rate to 4% per annum. The ISS also benefits small and marginal farmers holding Kisan Credit Cards (KCCs) for crop loans against Negotiable Warehouse Receipts (NWRs) for an additional six months post-harvest, in case of natural calamities and severe natural disasters.

5. Agriculture Infrastructure Fund (AIF): The Agri Infrastructure Fund was launched under the Atmanirbhar Bharat package to address existing infrastructure gaps and promote investment in agricultural infrastructure. The AIF was introduced with the vision of transforming the agricultural infrastructure landscape in the country. The Agriculture Infrastructure Fund is a medium- to long-term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and credit guarantee support. Funds worth ₹1 lakh crore will be disbursed from FY 2020-21 to FY 2025-26, and support will be provided from FY 2020-21 to FY 2032-33.

Under the scheme, loans worth ₹1 lakh crore will be provided by banks and financial institutions with an interest subvention of 3% per annum and credit guarantee coverage under CGTMSE for loans up to ₹2 crore. Furthermore, each entity is eligible to avail the scheme benefits for up to 25 projects located in different LGD codes.

6 Formation & Promotion of new 10,000 FPOs The Government of India launched the Central Sector Scheme (CSS) in 2020 for "Formation and Promotion of 10,000 Farmer-Producer Organizations (FPOs)." The total budget of this scheme is Rs. 6865 crore. The work of formation and promotion of FPOs will be done through Implementing Agencies (IAs), which will further engage Cluster-Based Business Organizations (CBBOs) to form FPOs and provide professional handholding support for a period of 5 years.

FPOs receive financial assistance of up to Rs. 18.00 lakh per FPO for a period of 3 years. In addition, a matching equity grant of up to ₹2,000 is provided to each farmer member of each FPO, subject to a limit of ₹15.00 lakh per FPO. To facilitate FPO access to institutional credit, a credit guarantee facility of up to ₹2 crore is provided to each FPO on project loans from eligible lending institutions. Adequate provisions have also been made for the training and skill development of FPOs.

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