Nidhi companies accept deposit as well as lend loans only to its member for their mutual benefi...
The Interim Budget for 2019 presented in Parliament by the Government seems to woo the farmers with the monetary support. One such big takeaway of this budget is the ambitious scheme Pradhan Mantri Kisan Samman Nidhi (PM-Kisan). This is launched to provide assured income support to small and marginal farmers. But the question arises “how it would benefit farmers who are suffering from low income?”
The other question which arises is whether this scheme is just a triumph card to win the forthcoming general elections. In this blog, we would be discussing the said scheme and its significance on the farming community.
Agriculture is one of the main vehicles of our Indian economy. On the other hand, farmers are the drivers who help in running this sector. Hence, there is a need for providing structured income support to the poor landholder farmers.
This scheme will not only provide assured supplemental income but will also meet their emergent needs especially before the harvest season.
The main purpose is to provide support to the poor farmers in buying inputs for farming such as seeds, fertilizers, equipment etc. and for arranging labor.
Under Pradhan Mantri Kisan Samman Nidhi programme, the major beneficiaries are those vulnerable landholding farmer families who have cultivable land up to 2 hectares. As a result, around 12 crore small and marginal farmer families are expected to get benefit from this.
This scheme will provide them assured income support for a certain amount every year. This programme will get complete fund by the Government of India.
As discussed, this programme will benefit about 12 crore small and marginal farmers. To provide major monetary support, interim Finance Minister Piyush Goyal in his Budget speech on February 1st, 2019 announced that:
Some of the major advantages of this programme are:
The eligibility criteria for the programme are:
Please note that nothing about the application procedure or the requirements of documents has been specified by the Government as of now. Enterslice will update as soon as the government releases any notification in regard to this.
While this ambitious scheme seems to be perfect support from the side of Government for the poor farmers who can have extra income support of Rs. 6000 annually. But will it really be helpful?
The annual income amount support of Rs. 6000 can’t improve a family’s state which is quite practical. On the other hand, it is unfortunate that there is nothing in the budget that proves that the Government even desires to introduce liberalizing measures.
The Government aim of “Vision for the next decade” doesn’t seem to succeed through this programme.
In simple words, there is very little in the interim budget that can seriously help farmers. PM-Kisan scheme seems to be just a weak balm and not the proper therapy.
However, it is still advantageous for the poor farmers for whom an extra additional income can serve their little expenses.