The Prime Minister, Shri Narendra Modi today released the 7thinstalment of financial benefit under PM KisanSammanNidhi.
What is PM Kisan Samman Nidhi?
Pradhan Mantri Kisan Sammann Nidhi (PMKSN) is an initiative by the government of India in which all farmers will get up to ?6,000 (US$84) per year as minimum income support.
The initiative was announced in 2019.
How it is significant for farmers?
It is started with a view to augment the income of the Small and Marginal Farmers (SMFs).
The PM-KISAN scheme aims to supplement the financial needs of the SMFs in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income at the end of the each crop cycle.
This would also protect them from falling in the clutches of moneylenders for meeting such expenses and ensure their continuance in the farming activities.