The Indian government's agricultural welfare initiatives have made significant strides in supporting farmers across the country.
The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, a Central Sector Scheme, focuses on providing financial aid to farmer families owning cultivable land. This scheme disburses Rs. 6000 annually in three equal parts of Rs. 2000 directly into the Aadhaar-linked bank accounts of eligible farmers. The number of beneficiaries has grown steadily over the years. As of July 2023, the scheme has assisted over 8.5 crore farmer families nationwide.
Additionally, the Pradhan Mantri Kisan Maan Dhan Yojana (PMKMY) introduced in 2019 aims to establish a pension system for small and marginal landholder farmers, enhancing their financial security in old age.
This voluntary scheme caters to farmers between the ages of 18 to 40, with monthly pensions of Rs. 3000 upon reaching 60. By June 2023, approximately 23.36 lakh farmers have enrolled in this program.
To mitigate the financial impact of natural calamities on farmers, the government introduced the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme (RWBCIS) in 2016. These insurance schemes aim to protect farmers against yield losses due to adverse weather conditions.
Farmers' premium contributions are subsidized by the government, with varying ratios based on the type of crop and region. This initiative has provided coverage to over 4.8 crore farmers as of June 2023.
In total, the combination of PM-KISAN, PMKMY, and PMFBY has brought tangible benefits to millions of farmers, safeguarding their livelihoods and providing them with financial security in times of need. The Indian government's commitment to agricultural welfare remains a cornerstone of its efforts to uplift rural communities and ensure food security.
