Lifestyle News
PM Kisan Samman Yojana was launched on 24 February 2019. It aims to offer direct financial aid to farmers. Under this scheme, farmers receive Rs 6000 annually in three instalments.
Remarkably, this scheme offers a pension for the future benefits of small and marginal farmers. Upon turning 60, farmers receive a monthly pension of Rs 3000.
Farmers between the ages of 18 to 40 years can register for the scheme. They can contribute a monthly amount ranging from Rs 55 to Rs 200 for the insurance.
The Pradhan Mantri Fasal Bima Yojana (PMFBY) was introduced in 2016. This scheme aims to offer financial aid to farmers to compensate for crop losses caused by natural disasters.
PMFBY covers risks associated with crops from the sowing stage to harvesting. It provides insurance for crops during both the Rabi and Kharif seasons.
Under the Modified Interest Subvention Scheme (MISS), farmers can avail agricultural loans of up to Rs 3 lakh at an annual interest rate of 7 percent.
The Agri Infrastructure Fund Scheme (AIF) offers a loan up to Rs 2 crore to farmers for constructing cold storage facilities, processing units, warehouse, and packaging units.
Other schemes by the government include Fisheries Scheme, Milk Production Scheme, Kisan Udan Yojana, eNAM, and more.