Chief Minister Kisan Samman Nidhi Yojana | 02 Jul 2024

Why in News?

Recently, Rajasthan Chief Minister Bhajanlal Sharma launched Chief Minister Kisan Samman Nidhi Yojana. The state government announced an additional annual financial assistance of Rs 2,000 to farmers who are already beneficiaries of the Prime Minister Kisan Samman Nidhi Yojana.

Key Points

  • Under this scheme, the first installment of Rs 1,000 has been disbursed, followed by two installments of Rs 500 each.
    • The Cooperative Department has been designated as the nodal department for the effective implementation of the scheme.
  • More than 65 lakh farmers in Rajasthan received over Rs 650 crore directly into their bank accounts as part of this first installment.
  • The CM also distributed Rs 3 lakh each to 51 women-run village service Cooperative Societies.
    • These societies, managed exclusively by women, aim to develop leadership skills and empower women to make decisions for their own development and welfare.

Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)

  • It is a Central Sector Scheme with 100% funding from the Government of India.
  • It is being implemented by the Ministry of Agriculture and Farmers Welfare.
  • Under the scheme, the Centre transfers an amount of Rs 6,000 per year, in three equal installments, directly into the bank accounts of the all landholding farmers irrespective of the size of their land holdings.
  • It intends to supplement the financial needs of the Small and Marginal Farmers (SMFs) in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income at the end of each crop cycle.
  • The entire responsibility of identification of beneficiary farmer families rests with the State / UT Governments.

Cooperative Society

  • Cooperatives are organizations formed at the grassroots level by people to harness the power of collective bargaining in the marketplace.
    • This can mean different kinds of arrangements, such as using a common resource or sharing capital, to derive a common gain that would otherwise be difficult for an individual producer to get.
  • In agriculture, cooperative dairies, sugar mills, spinning mills etc. are formed with the pooled resources of farmers who wish to process their produce.
    • Amul is perhaps the best-known cooperative society in India