Indian Economy

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The Pradhan Mantri Kisan Samman Nidhi scheme, announced in the Interim Budget 2019, aims at:

providing life insurance for small and marginal farmers

ensuring effective implementation of minimum support prices for all edible crops

ensuring minimum income for farmer families who own up to two hectares of cultivable land

providing medical insurance for small farmer families

Explanation:

Pradhan Mantri Kisan Samman Nidhi is an initiative by the government of India in which all small and marginal farmers will get up to 6,000 per year as minimum income support. The initiative was announced by Piyush Goyal during the 2019 Interim Union Budget of India on 1 February 2019.The scheme costs ?75,000 crore per annum.?6,000 per year will be paid to each eligible farmer in three instalments and will be deposited directly to their bank accounts.

By: Himani Bihagra

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