New Delhi: India is known as an agrarian country, with a large portion of its population dependent on agriculture. Farming is by no means an easy task; crops are often ruined by adverse weather conditions, or yields may simply be low. Consequently, farmers often face significant financial losses.
Government assistance is crucial to help recover these losses. That is why both the central and state governments introduce various schemes aimed at providing relief to farmers. However, farmers sometimes fail to avail themselves of the benefits of these schemes. Here, we highlight some of the schemes that offer the highest subsidies to farmers.
Why the PM Kisan Scheme is Significant
The PM Kisan Samman Nidhi Yojana, run by the central government, is considered a highly significant initiative. Under this scheme, farmers receive an annual sum of ₹6,000, transferred directly to their bank accounts in three instalments. Farmers can use these funds to cover expenses for fertilisers, seeds, pesticides, and other essentials. This reduces their reliance on market loans and helps strengthen their financial position.
Key Features of the PM Fasal Bima Yojana
Crops face the greatest threats from adverse weather and natural disasters. Droughts, floods, hailstorms, and pest infestations often destroy harvests.
The Importance of the Farm Mechanisation Scheme
In the modern era, the use of advanced machinery has become widespread, and farming without such equipment is a challenging task. However, these machines often come with a high price tag. To address this, the government provides subsidies ranging from 50% to 80% on the purchase of tractors, harvesters, and other equipment under this scheme. It is particularly beneficial for small and marginal farmers. This reduces their labour and increases production.
PM Krishi Sinchayee Yojana
Did you know that water scarcity is a major challenge in farming? The government’s objective under this scheme is to ensure water reaches every farm. The government provides subsidies for drip and modern irrigation techniques. This saves water and boosts production.
