PM Kisan Samman Nidhi Yojana

Posted by Liepo on January 3rd, 2021

The basic idea behind the Kisan Samman Nidhi Yojana is to improve the living standards of the farmers in rural India. The aim is to make them self-reliant so that they can improve the standard of living of their families. This is one of the latest grants from the finance ministry and is one of the most important schemes of the new agriculture policy. The main function is to help the farmers to buy and process the cotton or agricultural produce. Farmers have to be very particular about the quality of their crops in order to retain their customers. The Kisan program aims at promoting the agriculture sector and help the people in paying the taxes by getting discounts on the purchase of the produce.

The PM-Kisan scheme provides a minimum cash advance of five percent above the income tax that the farmer can claim every pay period. Farmers are eligible for this scheme only if they have less than one acre of land and not more than five employees. The payments are made on the basis of the price of the produce. The payment amount is based on the market price of the produce of the specific region in which the farmer lives. Two kilograms of the yield is considered to be an amount of income tax.

The financial needs of the farmers cannot be overlooked during the procurement of the produce. Hence, the program ensures proper crop health of the soil, water, pesticides and fertilizers. Farmers get the rebate on the cost of procuring various inputs for the production of the titans' products. Farmers will also be able to acquire the latest technology that is required to ensure proper crop health and yield.

Farmers will also receive the regular investment support in the form of fixed interest annuity, fixed return annuity and private stock subscription. This package is designed to provide the marginal farmer with the exact amount of the fixed financial needs, without affecting their monthly cash flow. The fixed interest annuity ensures timely distribution of the fund to the beneficiary. The fixed return annuity facilitates the purchase of agricultural machinery used to harvest the produce.

Farmers are eligible for the Kisan Samman Nidhi Yojana if they reside in the five notified districts in the states of Tamil Nadu, Andhra Pradesh, Karnataka, Kerala, and Tamil Nadu. The beneficiaries are entitled to receive six thousand eight hundred and fifty-two areas as cash and installment support, at a variable rate, annually. The installments depend on the valuation of the agricultural produce and production in each region. However, the minimum amount is six thousand five hundred and forty areas annually.

In the absence of this scheme, many farmers in the states of Tamil Nadu, Andhra Pradesh, Karnataka, Kerala, and Tamil Nadu will have to face financial difficulty in the future. With this scheme, they can improve and prolong their lives by getting financial help at the time of need. The plan has been formulated to improve the economic conditions of the people by giving them an improved standard of living and good return on their investments. Many financial options are available in the market, but they do not give the desired return on investment. This plan and instalment plan has been designed to give the right financial opportunities to the farmers in the state.