Recognizing farmers as the backbone of India’s economy, the Union government has prioritized farmers’ welfare through a range of impactful schemes. These initiatives are designed to boost agricultural productivity, ensure financial security, and promote sustainable farming practices. Here’s an overview of some key schemes:
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN):
Launched on February 24, 2019, PM-KISAN provides crucial financial support to landholding farmers. Through Direct Benefit Transfer (DBT), farmers receive Rs. 6000 annually in three equal installments. To date, over Rs. 2.81 lakh crore have been disbursed to more than 11 crores beneficiaries.
Pradhan Mantri Kisan MaanDhan Yojana (PM-KMY):
Introduced on September 12, 2019, PM-KMY offers a contributory pension scheme for small and marginal farmers. Farmers aged 18 to 40 contribute a monthly subscription, matched by the central government. Upon reaching 60 years of age, enrolled farmers receive a monthly pension of Rs. 3,000. Currently, 23.38 lakh farmers have enrolled in the scheme.
Pradhan Mantri Fasal Bima Yojana (PMFBY):
Since its inception in 2016, PMFBY provides comprehensive crop insurance coverage against non-preventable natural risks. Over 5549.40 lakh farmers have been insured, with claims amounting to Rs. 150589.10 crore being disbursed.
Modified Interest Subvention Scheme (MISS):
ISS offers concessional short-term agricultural loans to farmers at an interest rate of 7% per annum. An additional 3% subvention is provided for prompt repayment, effectively reducing the interest rate to 4% per annum. As of January 5, 2024, 465.42 lakh new KCC applications have been sanctioned.
Agriculture Infrastructure Fund (AIF):
Launched under the Aatmanirbhar Bharat Package, AIF aims to bridge infrastructure gaps in agriculture. A total of Rs. 33.209 crore has been sanctioned for 44,912 projects under AIF.
Formation & Promotion of new 10,000 FPOs:
The Central Sector Scheme for “Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs)” has seen the registration of 7,774 FPOs as of December 31, 2023.
National Beekeeping and Honey Mission (NBHM):
Launched in 2020, NBHM seeks to promote scientific beekeeping. Key achievements include recognizing honeybees as the 5th agricultural input, establishing World Class Honey Testing Labs, and registering 23 lakh bee colonies.
Market Intervention Scheme and Price Support Scheme (MIS-PSS):
Implemented for the procurement of agricultural commodities, these schemes safeguard growers from distress sales during bumper crops, ensuring economic returns.
Namo Drone Didi:
Recently approved, this scheme allocates Rs. 1261 crores to provide drones to Women Self Help Groups for offering rental services to farmers for agricultural purposes.