Not just Kisan Nidhi, the government runs so many schemes for farmers; know what benefits each offers?

The Indian government is running several schemes for the upliftment of farmers, including farmer pensions, income support, crop insurance, and subsidized crop loans. Learn about the full benefits of these schemes.

India is an agrarian country, where slogans like 'Jai Jawan, Jai Kisan' (Hail the soldier, hail the farmer) are raised to honor farmers. India has approximately 9 to 15 crore farmers, making it an agrarian nation. However, a large number of farmers in India live in poverty and deprivation. To address this, several Indian governments have made efforts and launched many schemes in the interest of farmers. The Indian government has implemented several projects for the progress and upliftment of farmers, which are making a significant contribution to the progress of farmers in different areas. Let's learn about some important schemes.

Pradhan Mantri Kisan Maan-Dhan Yojana

The Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY) was launched on December 12, 2019. Under this scheme, farmers are provided with social security, i.e., a pension, by the government, so that farmers can live their old age with dignity. This pension amount is given to farmers after they complete 60 years of age, with a pension of Rs. 3000 provided to the farmer every month. Under this scheme, the government contributes the same amount of money that the farmer deposits.

Pradhan Mantri Kisan Samman Nidhi Yojana

The Pradhan Mantri Kisan Samman Nidhi Yojana is a central government scheme run for the progress of farmers, under which farmers receive assistance in purchasing essential farming supplies, including seeds, fertilizers, and other agricultural equipment. Under this scheme, the government provides financial assistance of Rs. 6000 per year to every eligible farmer family, which is given to farmers in three installments of Rs. 2000 each.

Pradhan Mantri Krishi Sinchai Yojana

The Pradhan Mantri Krishi Sinchai Yojana ensures that every farmer in the country gets water for farming and that the farming resources of farmers are further improved. The government aims to ensure that farmers do not rely solely on rainfall for their crops, but also have access to modern farming methods. This scheme includes creating a network of pipes to deliver water to the fields and developing water resources.

Pradhan Mantri Fasal Bima Yojana (Prime Minister's Crop Insurance Scheme)

Under the Pradhan Mantri Fasal Bima Yojana, farmers are provided with crop insurance at a premium of 2 to 5 percent, with the remaining amount covered by the government. If a farmer's crop is damaged due to a natural disaster or any other reason, they receive financial assistance through this insurance.

Kisan Credit Card and Crop Loans

The central government has launched a loan scheme for farmers across the country, under which farmers are provided with crop loans of up to approximately ₹3 lakh through the Kisan Credit Card (KCC). Now, instead of taking loans from moneylenders at high interest rates, farmers can obtain loans from government banks under this scheme. The interest rate on these loans is also quite low. Farmers receive crop loans of up to ₹3 lakh at an interest rate of only 7 percent, and if they repay the loan on time, they receive an additional 3 percent rebate. The most significant feature of this scheme is that if a farmer takes a loan of up to ₹1.6 lakh, they are not required to mortgage their land or provide any collateral.