This day is observed by many in states like Punjab, Haryana, Uttar Pradesh and Madhya Pradesh, where agriculture serves as a primary occupation.
Over the years, the Indian government has launched several key initiatives and schemes for the welfare of the farmers in the country.
Here’s a look at some of the key government schemes for farmers:
- Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)
PM-KISAN is a flagship scheme of the Prime Minister Narendra Modi-led government that was launched on February 24, 2019. The scheme is aimed at supplementing the financial needs of land-holding farmers, subject to certain exclusions. Under this scheme, ₹6,000 is offered to farmers’ families through Direct Benefit Transfer (DBT) mode in three quarterly instalments.
With its 18th instalment being released in October, the total disbursement has number exceeded ₹3.45 lakh crore, supporting over 11 crore farmers nationwide.
- Pradhan Mantri Fasal Bima Yojana (PMFBY)
This scheme was introduced in 2016 to provide an affordable crop insurance product, ensuring comprehensive risk coverage for farmers against non-preventable natural risks.
As per provisions of guidelines under this scheme, farmers’ premium share is capped at 2% for Kharif crops, 1.5% for Rabi crops and 5% for commercial/Horticultural crops. The Ministry of Agriculture and Farmers Welfare informed the Parliament in August this year that ₹1,63,519 crore (98%) have already been paid against the total claims of ₹1,67,475 crore under the scheme.
- Pradhan Mantri Kisan Maandhan Yojana (PM-KMY)
Launched on September 12, 2019, this central sector scheme provides social security to all land-holding Small and Marginal Farmers (SMFs) in India.
Under this initiative, eligible beneficiaries are provided with a fixed monthly pension of ₹3,000 after they turn 60. To qualify for the same, farmers aged between 18 and 40 years are required to contribute between ₹55-200 per month until they turn 60.
- Agriculture Infrastructure Fund (AIF)
This was launched under the Aatmanirbhar Bharat Package to address the existing infrastructure gaps and to mobilise investment in the infrastructure in the agriculture field.
This medium-long-term debt financing facility provides an opportunity to invest in viable projects for post-harvest management infrastructure as well as community farming assets through interest subvention and credit guarantee support, according to the agriculture ministry.
Under this scheme, a fund of ₹1 lakh crore is to be disbursed from FY 2020-21 to FY 2025-26, while the support will be provided from FY 2020-21 to FY 2032-33.
- Modified Interest Subvention Scheme (MISS)
This provides concessional short-term agriculture loans to eligible farmers, who are practicing crop husbandry and other allied activities including animal husbandry, dairying and fisheries. Loans of up to ₹3 lakh are given at an interest rate of 7% per annum for one year, under this scheme. In addition, a 3% subvention is given for prompt and timely repayment of loans, thus reducing the interest rate to 4% per annum.
- Namo Drone Didi Scheme
The central government recently approved the ‘Namo Drone Didi’ scheme to provide drones to women Self Help Groups (SHGs). With a total outlay of ₹1,261 crore for the period between FY 2023-24 to FY 2025-26, a total of 15,000 drones are targeted to be supplied through this. Out of these, Lead Fertilizer Companies (LFCs) have procured the first 500 drones, while during the FY 2024-25, it has been targeted to distribute more drones to 3,090 SHGs in the first phase.
These drones will be provided as a package, including mandatory drone pilot training as well as additional training for agriculture purposes.
- Rashtriya Krishi Vikas Yojana
This is focused on the creation of both pre and post-harvest infrastructure in agriculture and other allied sectors which can help in supplying quality inputs, market facilities and other facilities to farmers. This grants flexibility and autonomy to states to implement projects depending on the needs and priorities of the local farmers.
