185.7 Million Dollars was given to wrong beneficiaries by Government of India .

in LeoFinance6 months ago

Good morning to everyone , hope you are having a great day . I am always keen on reading about what's going on in the country with respect to farmers . I also think we should write more general topics on LeoFinance which might increase traffic to the site and hopefully convert it to active users .

Image Source

Coming to the point , let's go through the basic info first -


PM-KISAN (Pradhan Mantri KisanSamman Nidhi) scheme is a central government flagship scheme in India in which the government will directly transfer to the beneficiaries 6000 Rupees ( ~ 80 $ ) in 3 equal installments of 2000 Rs every 4 months once. It was launched in 2019 .

Is 80$ for the whole family per year enough ?

A. Not really , a family cannot depend only on this to lead their life , the whole point is to provide sufficient capital in hands for the small farmers family so that they atleast afford investment in the coming season and not go to informal moneylenders for money .

Eligible Beneficiaries

So if a family has to qualify for the scheme

  • Less than or equal to 2 Hectares of land .
  • Mother , Father and children upto 18 years of age is considered as family for the purpose of the scheme .

The government had earmarked 75000 crore Rs ( ~10k Million $) initially , huge amount isn't it ? That is because there are 1.4 million family eligible for this scheme .

Why the irregularity of 185 million $ ?

Under Right to Information ( RTI ) , any citizen of India can request information from Government ministries and departments , it is under one such RTI request that the information was made public . If nobody had requested most probably it wouldn't have come out .

Why the irregularity?
A. It might be because of many reasons but the most important reason is lack of data .

How can that be fixed?
A. The solution to this is - 2021 census .
A2. Smart contracts? Tell me if this is possible in comments.

Is the scheme beneficial for farmers?

  • Given that most of the farmers in India is small and marginal farmers , it is definitely beneficial for them because if the crops fail they don't even have money to buy necessary items like food so if the direct bank transfer wasn't there they would go to some other informal moneylenders who charge huge amount of interest for minuscule amount of money.

  • My family is also a beneficiary and yes it helps .

  • But one negative point in this scheme is that landless labourers aren't covered so you have to own land to get 6k Rs.

  • I believe instead of loan waiver that is provided to farmers now and then , direct bank transfer is much more beneficial to the marginal farmers . In the hope of loan waivers even the farmer who can afford to repay too won't repay . The loan waiver is usually used by the political parties as a way to gain votes .


Posted Using LeoFinance Beta


Amount is nit much per farmer but yes something is better then nothing....
Question is From where they get the data... from government records only and as usual which is not updated...
Our farmers are protesting (peacefully) on the boarders of the capital from more then month time.. give them the their right.. one time transaction is not a solution give them the right sell price for their crops....

Right , I am with the farmers when it comes to MSP . Government can pass bills but I believe they should have deliberated more on the topic and should have sent it to select or joint committee before passing the bill.

Posted Using LeoFinance Beta

As far as Data is concerned the upcoming census can be utilized to gather the required info.
They are thinking about using drones to demarcate the land which is good .

Posted Using LeoFinance Beta

Yeah that's not enough and I know they could fork out more to people like that. I'm glad there were things said about that. For smart contracts I think it would be good to gear towards defi more than just investments like for interest

I hear what you say and I agree with you.

Posted Using LeoFinance Beta