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Pradhan Mantri Kisan Samman Nidhi (PM-KISAN): Definition and Benefits

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Definition: Introduced by Prime Minister Narendra Modi’s government on 1st December 2018, the PM-KISAN scheme offers annual financial assistance of up to ₹6,000 to support small and marginal farmers.

Agricultural activities form the backbone of our country, and farmers are an important part of the economic demographic. The state as well as central governments continue to introduce schemes and initiatives to offer farmers more financial stability. This Central Government scheme is open to all landholding farmers, both from urban and rural areas, who have cultivable land in their names. Eligible small and marginal farmer families can benefit from this program.

To offer a minimum income support, under the PM-KISAN Scheme, ₹6,000 is given in three equal instalments of ₹2,000 every four months. It aims to support farmers financially in acquiring the necessary agricultural inputs to maintain crop health and achieve good yields. However, a major advantage of this scheme is that it does not define any usage restriction, and the recipient can use it the way they deem right.

The 17th instalment of PM-Kisan was released on 18th June 2024 which benefited more than 9.26 crore farmers. As per the government data, an amount of over ₹20,000 was transferred to directly the beneficiaries’ account. 

To register for the PM Kisan Yojana, you need to visit pmkisan.gov.in and click on Farmers Corner. When you click the 'New Farmer Registration' option and choose between rural/ urban registration, you will be asked to fill in your details. You will then have to validate your registration with the OTP received on your registered mobile number. After filling in some more details, you will be asked for Aadhar authentication for which you will have to submit the required documents. You will receive the confirmation message on your screen. 

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory. For All Disclaimers Click Here.

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