Top 5 Most Popular Agriculture Scheme of 2020; Analysis in Detail

The year 2020 is about to end and the agriculture sector has witnessed many new things including coronavirus pandemic to farmer's protest. Moreover, the central government has launched so many new schemes this year to combat the corona pandemic and financial crisis. New farm laws also introduced to the nation this year which invited lots of unwanted intensifying protests in the national capital and across the nation.

However, the welfare of farmers has been the top priority of the Government of India across the year. For this, it has implemented different schemes or yojanas to revive the agriculture sector and to improve the economic conditions of farmers.  

Popular agricultural schemes in 2020

Let's know about some popular agricultural schemes of 2020 and how they have benefitted the farmers.

PM-Kisan Scheme

Pradhan Mantri Kisan Samman Nidhi Yojana is an initiative of the Government wherein 120 million small and marginal farmers of India with less than two hectares of landholding will get up to Rs. 6,000 per year as minimum income support. PM-Kisan scheme has become operational since 1st December 2018. Under this scheme, cultivators will get Rs. 6000 in three installments. PM Kisan has been an important scheme throughout the year for the farmers.

As per the recent reports, Prime Minister Narendra Modi will release the next installment of financial benefit under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) on 25th December 2020 at 12 noon via video conferencing. With the push of a button, the Prime Minister will enable the transfer of more than Rs. 18,000 crores to more than 9 crores beneficiary farmer families. 

Prime Minister will also have a conversation with farmers from six different States during the event. The farmers will share their experiences with PM-KISAN and also on various other initiatives taken by the Government for the welfare of farmers. Union Agriculture Minister will also be present on the occasion.

For more details check www.pmkisan.gov.in/

Pradhan Mantri Kisan Maandhan yojana

Prime Minister Narendra Modi launched a pension scheme for the small & marginal farmers of India last September. Under PM Kisan Maandhan's scheme about 5 crores marginalized farmers will get a minimum pension of Rs 3000 / month on attaining the age of 60. Those who fall in the age group of 18 - 40 years will be eligible to apply for the scheme. Under this scheme, the farmers will be required to make a monthly contribution of Rs 55 to 200, depending on their age of entry, in the Pension Fund till they reach the retirement date, 60 years. The Government will make an equal contribution of the same amount in the pension fund for the cultivators.

For more details click www.pmkmy.gov.in/

Pradhan Mantri Fasal Bima Yojana (PMFBY)

Pradhan Mantri Fasal Bima Yojana is an actuarial premium based scheme where the farmer has to pay a maximum premium of 2 percent for Kharif, 1.5 percent for Rabi food & oilseed crops, and 5 percent for annual commercial or horticultural crops and the remaining part of the actuarial or bidded premium is equally shared by the Central & State Government.  An important purpose of the scheme is to facilitate quick claims settlement. The claims should be settled within 2 months of harvest subject to the timely provision of both yield data & share of premium subsidy by the State Government. Check this link for more details pmfby.gov.in/

Kisan Credit Card (KCC) scheme

Kisan Credit Card scheme is yet another important Government scheme that provides farmers with timely access to credit. Kisan Credit Card scheme was introduced in 1998 to provide short-term formal credit to the farmers. KCC scheme was launched to ensure that the credit requirements for cultivators in the agriculture, fisheries & animal husbandry sectors were being met. Under this scheme, farmers are given short-term loans to purchase equipment & for their other expenses as well. There are many banks that offer KCC including SBI, HDFC, ICICI, Axis. 

Amid the ongoing protests by farmers against the Centre's new agriculture laws, the Ministry of Finance on Friday said that the government is empowering its farmers and accelerating agriculture growth through the Atma Nirbhar Bharat package. Providing details on the progress made in disbursing loans through Kisan Credit Cards (KCC), the ministry said that 169.77 lakh KCC holders with a credit limit of about Rs 1.54 lakh crore have been covered under the special saturation drive for farmers announced in the stimulus package.

It has been an important scheme for farmers across the nation. 

PM KUSUM Yojana

Ministry of New and Renewable Energy (MNRE) has launched Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM KUSUM) Yojana for farmers for installation of solar pumps and grid-connected solar and other renewable power plants in the country. The scheme aims to add solar and another renewable capacity of 25,750 MW by 2022 with the total central financial support of Rs. 34,422 Crore including service charges to the implementing agencies.

Under PM Kusum Yojana, the Modi government offers subsidies to buy solar pumps for agricultural purposes.