#Budget2019: Pradhan Mantri Kisan Samman Nidhi (PMKSN)

#Budget2019: Pradhan Mantri Kisan Samman Nidhi (PMKSN)

4 mins read

NEW DELHI: Finance Minister Piyush Goyal in his delivery of the Interim Budget 2019 announced Pradhan Mantri Kisan Samman Nidhi (PMKSN), which will transfer Rs 6,000 per annum for each small and marginal farmers.

Also Read: Next, the ‘Vote of Thanks’. By India.

Here are some of the highlights of this program, which is set to impact the life of 12 crore farmer families positively.


Objectives:

√ To augment the income of the Small and Marginal Farmers (SMFs) and protect them from the clutches of moneylenders.

√ To supplement the financial needs of SMFs in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income at the end of each crop cycle.


Beneficiaries:

√ SMF landholder farmer family is defined as “a family comprising of husband, wife and minor children who collectively own cultivable land up to 2 hectares as per land records of State/UT”.

√ The number of eligible SMFs under the scheme has been estimated on the basis of the projection of agricultural census 2015-16 data for 2018-19.

√ Projected number of SMFs landholder farmer families for FY 2018-19 is 13.15 crore.


√ But the total number of net eligible beneficiaries stands at 12.50 crore, due to likely exclusion of certain categories of people in higher economic strata.

Benefits:

√ A direct payment of Rs. 6000 per year will be transferred in three equal instalments of Rs. 2000 every four months into the Aadhaar ceded bank accounts of eligible landholding SMF families.

√ The first instalment for the period December 1, 2018, to March 31, 2019, will be transferred to the eligible beneficiaries in the current financial year (2018-19) itself. The first instalment shall be transferred immediately on the identification of the beneficiaries.

Timeline:

√ The Scheme shall be effective from December 1, 2018, for transfer of benefit to eligible beneficiaries.

√ The cut-off date for determining the eligibility of beneficiaries is February 2, 2019.

√ Changes, if any, in the cut-off date for eligibility of benefit under the scheme for the next 5 years will only be considered with approval of the cabinet. However, the benefit will be allowed on the transfer of ownership of cultivable land on account of succession due to the death of the landowner.

Expenditure:

√ The scheme to be implemented as a central sector scheme with 100% financial support by the government of India.

√ For the financial year 2018-19, a budget provision of Rs. 20,000 crore has been kept for disbursal of financial benefit to the eligible landholding SMFs families.


√ A budgetary provision of Rs. 75,000 crore has been kept in the financial year 2019-20 for disbursal of financial benefits to eligible landholding SMF families.

Transparency & Monitoring:

√ For availing benefits under the scheme, Aadhaar is mandatory. However, for the first instalment in 2018-19, in cases, where the beneficiaries at present are not having Aadhaar, alternate prescribed documents can be used for identity verification and transfer of benefit to such farmer families can be made. But eventually, all beneficiaries should enrol under Aadhaar.

√ A Project Monitoring Unit (PMU) at the central level will take care of the effective review and monitoring and also the publicity.

√ State and district levels also will have monitoring mechanisms.


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