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news details
Financial injection for farmers
6/16/2024 9:43:15 PM

Prime Minister Narendra Modi’s imminent release of over Rs 20,000 crore as the 17th instalment of the PM-KISAN scheme marks a significant milestone in his administration’s ongoing commitment to support India’s agrarian community.
This financial injection, aimed at benefiting 9.26 crore farmers across the nation, reflects the government’s persistent efforts to bolster the agricultural sector, which remains the backbone of the Indian economy.
The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, launched in February 2019, has been a cornerstone of PM Modi’s agricultural policy. The scheme provides eligible farmers with a financial benefit of Rs 6,000 per year, payable in three equal instalments. This initiative aims to supplement the financial needs of the farmers in procuring various inputs to ensure proper crop health and yield, commensurate with the anticipated farm income.
The release of this 17th instalment is not just a continuation of the scheme but an affirmation of the government’s unwavering support to the agricultural sector. Amidst the economic challenges posed fluctuating market prices, and unpredictable weather patterns, the PM-KISAN scheme has been a reliable source of financial security for millions of farmers.
By ensuring that this instalment reaches the farmers on time, the government is reiterating its dedication to mitigating rural distress and enhancing the livelihood of the agrarian community.
The broader implications of this substantial financial aid extend beyond immediate relief. It contributes to the larger goal of achieving sustainable agricultural growth and rural development. By providing direct cash transfers, the scheme empowers farmers with greater autonomy over their agricultural practices. This financial independence enables them to invest in better seeds, fertilizers, and irrigation facilities, thereby potentially increasing productivity and profitability.
Moreover, the PM-KISAN scheme is a step towards integrating farmers into the formal financial system, promoting financial inclusion. The direct benefit transfer (DBT) mechanism ensures transparency and reduces the likelihood of corruption, ensuring that the funds reach the intended beneficiaries without leakage.
The financial support provided under the PM-KISAN scheme, though beneficial, is often considered insufficient in addressing the comprehensive needs of farmers.
Agricultural reforms must be multifaceted, encompassing better infrastructure, improved market access, and enhanced research and development in farming technologies. Thus, while the PM-KISAN scheme plays a vital role, it should be part of a broader, more integrated approach to agricultural development.
The release of the 17th instalment of the PM-KISAN scheme by Prime Minister Narendra Modi is a testament to the government’s sustained commitment to supporting India’s farmers. As the scheme continues to evolve, addressing its challenges and integrating it with broader agricultural reforms will be crucial in ensuring that it fulfills its potential in transforming the lives of India’s farmers.
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