Pradhan Mantri Kisan Samman Nidhi

About the scheme

• Pradhan Mantri Kisan Samman Nidhi was announced in Budget 2019.

How does it work?

• Rs 6,000 per year will be transferred directly to the bank accounts of marginal and small farmers in three installments.
• The scheme will cost ?75,000 crore per annum.

Eligibility:

•  Farmers with less than 2 hectares land are eligible.

Funding:

• The scheme is fully funded by central government.

Documents required

• Citizenship certificate
• Landholding papers
• Aadhaar card
• Bank account details

Prelims Question

Consider the following statements regarding Pradhan Mantri Kisan Samman Nidhi:
1.It will transfer Rs.6000 every month into the accounts of eligible farmers.
2.Cost of the scheme is borne equally by central and State governments.
Which of the statements given above is/are correct?
(a)1 only
(b)2 only
(c)Both 1 and 2
(d)Neither 1 nor 2

Answer to prelims question