India’s agricultural sector has undergone a remarkable transformation with the government’s strategic initiatives.
From the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) providing annual financial aid to over 11 crore farmers, totaling Rs. 2.81 lakh crores, to schemes ensuring pension benefits for vulnerable farming families like the Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY), the support is widespread.
Additionally, measures such as affordable crop insurance through the Pradhan Mantri Fasal Bima Yojana (PMFBY) and financial assistance schemes like the Interest Subvention Scheme and Kisan Credit Card drive have furthered access to loans and streamlined processes.
Let’s delve into some of the top agriculutral government schemes:
PM-KISAN: A Lifeline for Farmers
The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), launched in February 2019, stands as a cornerstone scheme offering financial assistance to landholding farmers. Providing an annual sum of Rs. 6,000 in three installments through the Direct Benefit Transfer (DBT) mode, the initiative has benefited over 11 crore farmers, totaling an impressive transfer of Rs. 2.81 lakh crores.
PM-KMY: Ensuring Farmer Security
Addressing the financial stability of vulnerable farmer families, the Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY) offers pension benefits. This scheme, catering to small and marginal farmers aged 18 to 40 years with up to 2 hectares of cultivable land, promises a monthly pension of Rs. 3,000 post the beneficiary reaching 60 years. Presently, 23.38 lakh farmers are enrolled.
Securing Crops: PMFBY
Launched in 2016, the Pradhan Mantri Fasal Bima Yojana (PMFBY) is designed to provide affordable crop insurance covering non-preventable natural risks. With over 5549.40 lakh farmer applications insured and a total payout of Rs. 150589.10 crore as claim settlements, the scheme ensures comprehensive coverage and fair claim amounts.
Financial Support: ISS & Kisan Credit Card Drive
The Interest Subvention Scheme (ISS) offers concessional short-term agri-loans at a 7% interest rate, reducing to 4% for prompt repayments. As part of the Kisan Credit Card (KCC) saturation drive, 482.73 lakh new KCC applications have been sanctioned, totaling Rs. 5,47,819 crore in sanctioned credit limits.
Technology for Transparency: eKYC & Digitalization
To ensure transparency in PM-Kisan, Face recognition and Aadhaar identification-based eKYC have been implemented, combating fake entries and enhancing governance. Additionally, the digitization of the Pradhan Mantri Fasal Bima Yojana streamlines claim processing through the DigiClaim module, facilitating direct payments and grievance redressal through the National Crop Insurance Portal.
Supportive Framework: FPOs, MSP, and Drone Technology
The formation and promotion of 7476 Farmer Producer Organizations (FPOs) under the central sector scheme aim to provide professional support and better market linkages. The Minimum Support Price (MSP) policy, aligned with the MS Swaminathan Commission’s recommendations, ensures fair returns for crops. Furthermore, the promotion of drone technology, offering financial assistance for its deployment in agriculture, marks a futuristic approach to farm practices.
National Mission on Edible Oil-Oil Palm (NMEO-OP)
Amidst these transformative initiatives, the launch of NMEO-OP by the Government of India stands as a pivotal step towards self-reliance in edible oils. Focusing on oil palm cultivation, the mission aims to cultivate an additional 6.5 lakh hectares, with 3.28 lakh hectares in the North-Eastern States and 3.22 lakh hectares across the rest of India over the next five years. This strategic move aligns with the country’s vision of Aatmanirbhar Bharat, especially catering to the North-Eastern States and the A&N Islands.
In essence, these initiatives underscore the government’s commitment to empowering farmers, promoting sustainable agricultural practices, and ensuring financial security in the agricultural sector.