National Farmers’ Day, or Kisan Diwas, is celebrated annually on December 23 in India to honor the birth anniversary of former Prime Minister Chaudhary Charan Singh. This day recognizes farmers as the backbone of the Indian economy and highlights their invaluable contributions to the socio-economic development of the nation. It is especially significant in states like Punjab, Haryana, Uttar Pradesh, and Madhya Pradesh, where agriculture is a primary occupation.
Over the years, the Indian government has introduced various initiatives to support farmers. Below is a comprehensive guide to the key central government schemes aimed at enhancing farmers’ welfare and boosting the agricultural sector.
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)
Launched on February 24, 2019, PM-KISAN is a flagship scheme designed to supplement the financial needs of landholding farmers. Under this initiative, eligible farmers receive ₹6,000 annually through Direct Benefit Transfer (DBT) in three equal installments.
With the 18th installment released in October 2024, the scheme has disbursed over ₹3.45 lakh crore, benefiting more than 11 crore farmers across the country.
Pradhan Mantri Fasal Bima Yojana (PMFBY)
Introduced in 2016, PMFBY provides affordable crop insurance to safeguard farmers against non-preventable natural risks. The premium rates are capped at 2% for Kharif crops, 1.5% for Rabi crops, and 5% for commercial/horticultural crops.
As of August 2024, the Ministry of Agriculture and Farmers Welfare reported that ₹1,63,519 crore (98%) had been paid against total claims of ₹1,67,475 crore under this scheme.
Pradhan Mantri Kisan Maandhan Yojana (PM-KMY)
Launched on September 12, 2019, this central sector scheme offers social security to landholding Small and Marginal Farmers (SMFs). Farmers aged 18 to 40 years can contribute between ₹55 and ₹200 monthly to receive a fixed pension of ₹3,000 after turning 60.
Agriculture Infrastructure Fund (AIF)
As part of the Aatmanirbhar Bharat Package, the AIF aims to address infrastructure gaps in agriculture. It provides medium-to-long-term debt financing for projects related to post-harvest management and community farming.
With a fund of ₹1 lakh crore allocated for FY 2020-21 to FY 2025-26, the scheme offers support through interest subvention and credit guarantees until FY 2032-33.
Modified Interest Subvention Scheme (MISS)
This scheme provides concessional short-term agricultural loans of up to ₹3 lakh at a 7% annual interest rate for crop husbandry and allied activities. Farmers who repay their loans promptly receive a 3% interest subvention, reducing the effective interest rate to 4%.
Namo Drone Didi Scheme
Approved recently by the central government, this scheme aims to empower women Self Help Groups (SHGs) by providing them with drones. With an outlay of ₹1,261 crore for FY 2023-24 to FY 2025-26, the scheme targets distributing 15,000 drones, including pilot and agriculture-specific training.
In FY 2024-25, 3,090 SHGs are expected to receive drones in the first phase.
Rashtriya Krishi Vikas Yojana (RKVY)
This initiative focuses on creating pre-and post-harvest infrastructure to supply quality inputs, market facilities, and other resources to farmers. It grants states the flexibility to implement projects tailored to local farmers’ needs and priorities.
Summing Up
On Kisan Diwas 2024, the nation honors its farmers and acknowledges their pivotal role in the economy. Through these government schemes, India is empowering its agricultural community, ensuring their welfare, and fostering sustainable growth in the sector. As these initiatives continue to evolve, they pave the way for a more resilient and prosperous future for Indian farmers.