In a landmark event aimed at supporting the backbone of India’s economy, the 17th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) was distributed today at 5:00 PM. Also remember that 16th installment of PM Kisan Samman Nidhi was distributed on 28th Feb, 2024. This initiative continues to be a cornerstone in the government’s efforts to bolster the agricultural sector by providing direct income support to farmers across the nation.
Understanding PM-KISAN: A Quick Overview
Launched in December 2018, the PM-KISAN scheme was conceived to ensure financial stability for farmers and to address their monetary needs for procuring various inputs for agriculture and allied activities. Under this scheme, eligible farmers receive ₹6,000 per year in three equal installments of ₹2,000 each, directly credited to their bank accounts. The scheme aims to provide comprehensive income support to small and marginal farmers, promoting their welfare and economic betterment.
The Impact So Far
The PM-KISAN scheme has been a game-changer for the agricultural community. To date, millions of farmers have benefitted from the initiative, which has helped in alleviating financial stress and improving agricultural productivity. The direct benefit transfer (DBT) mechanism ensures transparency and minimizes the leakage of funds, ensuring that the aid reaches the intended beneficiaries without delay.
Today’s Distribution: A Milestone Achievement
The distribution of the 17th installment marks another significant step in the government’s commitment to supporting the agricultural sector. With this installment, a substantial amount of money is being infused into the rural economy, providing a much-needed boost to the farmers ahead of the Kharif season.
AePS Service
To make the benefits of PM-KISAN easily accessible, the government has already introduced the Aadhaar-enabled Payment System (AePS). AePS allows farmers to withdraw their PM-KISAN Samman Nidhi funds from their bank accounts seamlessly, even in remote areas where banking infrastructure might be limited.
How AePS Works
AePS is a bank-led model which allows online interoperable financial transactions at PoS (Point of Sale) or Micro ATM through the Business Correspondent (BC) of any bank using Aadhaar authentication. Farmers can perform basic banking transactions such as cash withdrawal, balance inquiry, and mini statements, among others, simply by using their Aadhaar number and fingerprint/iris scan for authentication.
Benefits of AePS for Farmers
- Accessibility: AePS makes banking services available to farmers even in remote and rural areas, eliminating the need to travel long distances to reach bank branches.
- Convenience: With AePS, farmers can withdraw cash and check their account balance at any time, making it easier to manage their finances.
- Security: AePS transactions are secure, leveraging biometric authentication to ensure that only the account holder can access their funds.
Voices from the Field
Farmers across the country have expressed their gratitude for the timely assistance. Ram Singh, a farmer from Uttar Pradesh, shared, “The PM-KISAN installments have been a great help in purchasing seeds and fertilizers without taking on additional debt. The scheme has made a significant difference in our lives.“
Similarly, Lakshmi Devi, a small-scale farmer from Tamil Nadu, stated, “The money from PM-KISAN helps us manage our expenses and invest in better farming techniques. This support has been crucial, especially during challenging times.“
Government’s Continued Commitment
The government’s dedication to enhancing the welfare of farmers is evident from the seamless and timely distribution of funds under the PM-KISAN scheme. Prime Minister Narendra Modi, in his address today, reiterated the government’s focus on farmer welfare and the importance of agriculture in India’s economic development. He emphasized that the government is working tirelessly to ensure that every eligible farmer benefits from the scheme.
Looking Ahead
As the PM-KISAN scheme continues to roll out, the focus remains on expanding its reach and ensuring that no eligible farmer is left behind. The integration of technology-driven solutions like AePS will further streamline the process and enhance the efficiency of fund transfers and withdrawals.
The 17th installment of PM-KISAN is not just a financial aid but a testament to the government’s unwavering support for the agricultural community. As we move forward, such initiatives will play a crucial role in transforming the agricultural landscape of India, ensuring a prosperous and sustainable future for our farmers.
Conclusion
The distribution of the 17th installment of the PM-KISAN Samman Nidhi is a reaffirmation of the government’s commitment to farmer welfare. By providing timely financial support and introducing innovative solutions like AePS, the scheme not only helps in stabilizing the income of farmers but also contributes to the overall development of the agricultural sector. As we celebrate this milestone, it is essential to recognize and appreciate the relentless efforts of our farmers who continue to feed the nation and drive the economy forward.
