PM Kisan Yojana Update: Only 34 percent of Failed Transactions Refunded To Farmers

Pradhan Mantri Kisan Samman Nidhi Yojana, well  known as PM Kisan, under which marginal farmers who own up to two hectares of land receive Rs.6,000 in three installments every year, has seen 61,04,877  transaction failures between 1 February 2019 and 30 June 2021. Out of these failed transaction only 20,88,010 transactions (34% of failed transaction)  were successfully reprocessed to farmers.  

According to the scheme, the pledged amount is to be distributed to small and marginal farmers in three equal installments of ₹ 2,000 each after every four months.  

According to sources from the Ministry of Agriculture, during the period (February 2019 and June 2021), the total number of transactions completed under the PM Kisan plan was 68,76,55,195, of which 1% or 61,04,877 were done under the scheme. 

However, it is worth noting that according to the Ministry of Agriculture's own data, out of 61,04,877 failed transactions, only 20,88,010 or only 34% of the transactions were successfully reprocessed to farmers. 

In addition, since the program was specifically launched to benefit small and marginal farmers, it is more interesting that Uttar Pradesh and Bihar are the two states with the largest numbers of operational holding according to the provisional data of the 10th Agricultural Census in 2015-16.  

According to data received from the Ministry of Agriculture, out of 10.95,225 failed transactions related to Uttar Pradesh during the aforementioned PM Kisan scheme, only 8% or 91,908 of failed transactions were reprocessed to beneficiaries. Also in Bihar, 1,38,909 transactions that failed only 9,493, or a paltry 6.8%, were reprocessed to farmers. 

If the first attempt fails, the relevant state government is responsible for ensuring that the failed transaction is successfully reprocessed into the farmer’s bank account. States must also determine beneficiary farmers based on the eligibility criteria of the PM Kisan program.