Budget 2019: What is Pradhan Mantri Kisan Sammaan Nidhi Yojana Scheme? How Modi's masterstoke is a win-win for farmers

Pradhan Mantri (PM) Kisan Sammaan Nidhi Yojana Scheme: It's a political masterstroke by PM Narendra Modi-led government as the crucial Lok Sabha polls are around the corner. Nobody knew that this surprise is set to arrive from Modi govt. Presenting the Budget 2019, Finance Minister Piyush Goyal announced a big scheme for farmers. The scheme is known as Pradhan Mantri Kisan Sammaan Nidhi scheme. Announcing the scheme, Goyal said, "To provide assured income support for small and marginal farmers, Pradhan Mantri Kisan Sammaan Nidhi Scheme has been approved."

Here are top points to know about  Pradhan Mantri Kisan Sammaan Nidhi Yojana:-

- Under the Pradhan Mantri Kisan Sammaan Nidhi Yojana

- Rs 6000 rupees per year will be given to each each farmer

- Rs 6k will be paid in three instalments

- The amount will be transferred directly to farmers' bank accounts

- The scheme will be vaild for farmers with less than 2 hectares landholding

-  Pradhan Mantri Kisan Sammaan Nidhi Yojana will benefit 12 crore small and marginal farmers.

-  Pradhan Mantri Kisan Sammaan Nidhi scheme has been launched with an estimated cost of Rs 75,000 crore

- It will be implemented with effect from 1st Dec 2018

- The scheme is fully funded by the Central government

For welfare of farmers and for doubling their income, historic decision taken to increase MSP by 1.5 times the production cost for all 22 crops: FM Shri Piyush Goyal #Budget2019 https://t.co/bwq6afFrrs

— PIB India (@PIB_India) February 1, 2019

Also, Piyush Goyal announced that for welfare of farmers and for doubling their income, historic decision taken to increase MSP by 1.5 times the production cost for all 22 crops.