Economics • Indian EconomyMedium
What is the primary purpose of the 'PM-KISAN' scheme administered by the Ministry of Agriculture and Farmers Welfare in India?
A. To provide income support of a specified annual amount transferred directly to the bank accounts of eligible farmer families across the country.✓ Correct Answer
B. To waive all outstanding institutional agricultural crop loans for marginal farmers nationwide.
C. To provide free chemical fertilizers and certified hybrid seeds directly to cooperative societies.
D. To construct cold storage warehousing facilities in every rural gram panchayat.
💡 Solution & Explanation
Pradhan Mantri Kisan Samman Nidhi is a central sector scheme providing income support of six thousand rupees per year, payable in three equal installments of two thousand rupees directly into the Aadhaar-seeded bank accounts of eligible farmer families. Initially covering small and marginal farmers, the scheme was subsequently expanded to include all landholding farmer families, subject to certain exclusion criteria such as high-income taxpayers and institutional landowners. The objective is to supplement financial needs of farmers for procuring agricultural inputs and domestic requirements. Aadhaar authentication ensures targeted delivery.
More Economics Indian Economy questions
- What does the 'Demographic Dividend' refer to in the context of the Indian economy?
- What is the primary goal of the 'SVAMITVA Scheme' implemented by the Ministry of Panchayati Raj?
- What is the principal constitutional mandate of the 'Finance Commission of India' constituted under Article…
- In the context of the Indian economy, what does the 'Current Account Deficit (CAD)' signify?
- Which of the following accounts for the largest share of India's total merchandise export basket in recent…