15 Feb PM-KISAN
PM-KISAN- Today Current Affairs
According to the ministry of Agricultural, since 2019 about Rs 374.78 crore amount is pending for reprocessing after a failed transaction occurred under the PM-KISAN scheme.In the ongoing 2021-22 fiscal, the number of pending failed transactions stood at 9.11 lakh till november 2021. Although the number of failed transactions is less than 1% of the total number of transactions under the scheme. More than 11.60 crore farmers have been given the financial benefits of approx 1.60 lacs crore through various instalments since the launch of the scheme.
Today Current Affairs
About the scheme: The Hindu Analysis
- It is a central sector scheme launched in December 2018.
- It provides to each eligible farmer’s family 6000 per annum in 3 instalments of rupees 2000 each .The definition of family for the scheme is husband,wife,and minor children. Today Current Affairs.
- Initially farmers with less than 2 hectares of land were eligible however from June 2019 it was extended to 22 all farmers i.e 140million farmers.
- The responsibility to identify the farmer families which are eligible for support as per scheme guidelines lies with respective State Government and union territory administration; the fund is directly transferred to the bank account of the beneficiaries.
Why is PM-KISAN better than other subsidy schemes? The Hindu Analysis
- Direct income support as it addresses the liquidity constraints of farmers for meeting their expenses for acquisition of agricultural inputs and services.
- The data received on the PM Kisan portal go through various levels of verification and validation including Aadhar and income tax databases.
- Compatibility with WTO norms- The scheme assumes importance as India’s farm subsidies are increasingly being challenged at the WTO for violating multilateral trading rules. Direct income support is considered part of the green box of WTO.
- Insufficient amount-given that India’s vertiline is rupees 32 per person per day in rural areas and rupees 47 in urban areas, According to Rangarajan committee the income support of rupees 17 for households is largely insufficient for even a minimum sustenance of vulnerable farmers.
- Cultivator and sharp copper as identification remains a huge challenge.
- Concerns of data in identification of benefits due to incomplete records and non-digitised land data. The Hindu Analysis.
- Failed transaction due to invalid IFSC code,dormant/inactive account etc.
- Many beneficiaries are left out. A study done in Andhra Pradesh has shown that about 29.1 % of the farmer beneficiaries of the scheme in the state have not received their full benefits for the good number of bank rejection cases and state action required cases were unresolved for 18 month.
Today Current Affairs
- Aggregate cash transfer to help bring affected communities out of poverty.
- Index transfer with inflation in the context of volatile markets and price fluctuation in different regions it is important to index the cash transfer to local inflation.
- Better timing of providing benefits IFPRI-ICAR study found that farmers receiving instalments in the agriculture peak season are more likely to spend it on agriculture and those getting it in the off-season are more likely to spend it on whether the timing of benefits have implications on spending patterns.
- Need to strengthen IT backbone estates with robust computerised land records databases and a good IT infrastructure are in a better position to implement PM KISAN.
- Investment in rural infrastructure and research and development.