Pradhan Mantri Kisan Samman Nidhi (PMKSN, translation: ''Prime Minister's Farmer's Tribute Fund'') is an initiative by the

government of India The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, c ...

that give farmers up to per year as minimum income support. The initiative was announced by

Piyush Goyal Piyush Vedprakash Goyal (born 13 June 1964) is a politician, chartered accountant and cabinet minister of the Government of India having portfolios such as Minister of Textiles, Minister of Commerce and Industry and Minister of Consumer Affa ...

during the 2019 Interim Union Budget of India on 1 February 2019. The scheme has cost per annum and came into effect December 2018.

History

The scheme was first conceived and implemented by

government of Telangana The Government of Telangana also known as Telangana Government, is the governing authority of the state of Telangana in India. It consists of an executive, a judiciary and a legislative. The state government is headed by the Governor of Telan ...

as the Rythu Bandhu scheme, where a certain amount is given directly to eligible farmers. The scheme has received accolades from various organisations for its successful implementation, including

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

. Many economist suggest that this type of investment support is better than farm loan waivers. With the positive outcome of this scheme,

Government of India The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, c ...

wanted to implement it as nationwide project and it was announced by

during the 2019 Interim Union Budget of India on 1 February 2019. For 2018–2019, ₹20,000

crore A crore (; abbreviated cr) denotes ten million (10,000,000 or 107 in scientific notation) and is equal to 100 lakh in the Indian numbering system. It is written as 1,00,00,000 with the local 2,2,3 style of digit group separators (one lakh is e ...

was allocated under this scheme. On 24 February 2019,

Narendra Modi Narendra Damodardas Modi (; born 17 September 1950) is an Indian politician serving as the 14th and current Prime Minister of India since 2014. Modi was the Chief Minister of Gujarat from 2001 to 2014 and is the Member of Parliament from ...

launched the scheme in

Gorakhpur Gorakhpur is a city in the Indian state of Uttar Pradesh, along the banks of the Rapti river in the Purvanchal region. It is situated 272 kilometers east of the state capital Lucknow. It is the administrative headquarters of Gorakhpur dis ...

Uttar Pradesh Uttar Pradesh (; , 'Northern Province') is a state in northern India. With over 200 million inhabitants, it is the most populated state in India as well as the most populous country subdivision in the world. It was established in 1950 ...

, by transferring the first instalment of ₹2,000 each to over one crore farmers. Ministry of Agriculture and Farmers Welfare has awarded the top-performing states, and districts under PM Kisan Samman Nidhi Yojana. It is based on the criteria such as correction of data, addressing farmer grievances, and timely physical verification exercise.

Comparison with similar schemes

References

{{Government Schemes in India 2019 in India 2019 introductions Agricultural finance in India Government schemes in India Ministry of Agriculture & Farmers' Welfare Modi administration initiatives Social security in India

History

Comparison with similar schemes

See also

References