Prime Minister Narendra Modi has launch the 16th tranche of funds under the Pradhan Mantri Kisan Samman Nidhi (Prime Minister Kisan) Yojana in 2024. This important step underscores the government’s unwavering commitment to strengthen the agriculture sector and provide financial support to India’s farming community.
Launch in February 2019, the PM Kisan Yojana is a key sector scheme 100% fund by the Government of India. The aim is to provide income support to all landowning families across the country to meet their financial needs for the procurement of various inputs relate to agriculture and allied activities as well as domestic needs. Under this program, income support of Rs 6,000 per annum will be paid in three equal installments to small and marginal farming families who collectively own Land holdings of up to two hectares.
Prime Minister Modi’s release of the 16th installment was done through a virtual ceremony that ensure participation from stakeholders across the agricultural spectrum, including farmers, agricultural experts, and policymakers. The event was live-stream across various digital platforms, enabling millions of farmers to witness this momentous event from the comfort of their homes. In his address to the nation, Prime Minister Modi emphasize the importance of the agriculture sector as the backbone of the Indian economy.
He highlight the government’s efforts to ensure the welfare of farmers through various programs and initiatives aim at increasing their income and improving their living standards. Prime Minister Kisan Yojana, he said, is a cornerstone of this effort by providing direct financial support to farmers, enabling them to take care of their agricultural needs without relying on loans or other financial burdens. The release of Tranche 16 is expect to benefit millions of farming families across the country.
The funds are transfer directly to the bank accounts of the beneficiaries to ensure transparency and eliminate the possibility of using intermediaries. This direct transfer not only ensures that aid reaches the intend recipients without loss, but also promotes trust and accountability between the government and the farming community. The impact of the Prime Minister Kisan Yojana was profound. Farmers express gratitude for the financial support that has help them improve their farming practices, invest in better inputs, and ultimately increase their crop yields.
The program has also significantly contribute to farmers’ financial stability, especially during difficult times such as the COVID-19 pandemic when the agriculture sector face unprecedent disruption. Looking ahead, the government has outline its vision to further strengthen the agricultural infrastructure in the country. As well as, this includes investments to modernize agricultural techniques, expand access to credit and insurance, and improve supply chain logistics.
Also, these initiatives, along with the continue support of Prime Minister Kisan Yojana, will drive significant growth in the agriculture sector and ensure food security and economic prosperity of the country. The release of the 16th installment of the Prime Minister’s Kisan Yojana marks another milestone in the government’s efforts to support India’s farmers. But, it reaffirms the commitment to the well-being and prosperity of the agricultural sector and recognizes its fundamental role in the country’s economy and the lives of millions of Indians. As the project progresses, it continues to embody the spirit of “Sabka Sath, Sabka Vikas” (With All, Development for All) and lays the foundation for a stronger, more resilient, and prosperous agricultural future in India.
