PM Kisan Samman Nidhi Current Affairs - 2020

GoI increases Minimum Support Price of 14 Kharif crops

On June 1, 2020, the Union Cabinet approved hike of Minimum Support Price of 14 Kharif crops.

Highlights

The Minimum Support Price of Paddy has been increased by Rs 53 per quintal. The MSP of paddy has been fixed at Rs 1,868 per quintal for the year 2020-21. The rates of pulses, oil seeds and cereals have also been increased.

The MSP of cotton has been increased from Rs 5,255 per quintal to Rs 5,515 per quintal. The increase of MSP for other crops are as follows

  • Nigerseed-Rs 755
  • Sesamum-Rs 370
  • Soybean-Rs 170
  • Sunflower Seed-Rs 235
  • Groundnut-Rs 185
  • Urad-Rs 300
  • Moong-Rs 146
  • Tur-Rs 200
  • Maize-Rs 90
  • Ragi-Rs 145
  • Bajra-Rs 150
  • Jowar-Rs 70

The Cabinet approved the hike in prices of MSP based on the recommendation of Commission for Agricultural Costs and Prices.

Also, the umbrella scheme Pradhan Mantri Annadata Aay Saraks Han Abhiyan (PM-AASHA) will help in providing return to farmers.

PM-AASHA

The scheme consists of three sub-schemes namely Price Deficiency Payment Scheme, Price Support Scheme, Private Procurement and Stocklist Scheme.

Apart from this, the farmers are to be provided food security through PM-KISAN (Pradhan Mantri Kisan Samman Nidhi) scheme and also through Pradhan Mantri Garib Kalyan yojana.

9 Crore 60 lakh Farmers Benefitted under Pradhan Mantri Garib Kalyan Yojana

On May 27, 2020, the Government of India announced that around 9 crore 60 lakh farmers were benefitted under Pradhan Mantri Garib Kalyan Yojana. This was mainly done through the PM-KISAN Scheme

Highlights

During lock down, around 9.67 crore farmers were benefitted through Pradhan Mantri Kisan Samman Nidhi. This was done through the funds allocated under Pradhan Mantri Garib Kalyan Yojana. Since the lock down, that is in the months of April and May, 2020 around 19,000 crores of rupees were released. The amounts under the scheme has been transferred to the accounts of the farmers directly.

The Pradhan Mantri Garib Kalyan Yojana aimed to ease the life of the people during lock down.

PM-KISAN Scheme

The PM-KISAN scheme was launched in 2019. The estimated cost of the scheme was around Rs 75,000 crores. Under the scheme Rs 6000 was deposited to the accounts of eligible farmers in three installments annually.

The scheme targeted the small and marginal farmers. It aimed to save these farmers from falling into the hands of moneylenders.