The Indian government is actively considering the PM Kisan Bhai scheme, designed to serve as a crucial support system for small-scale farmers. This initiative aims to empower farmers by providing them better control over the timing of their crop sales, ultimately enhancing their income.
One key component of the scheme is the warehousing rental subsidy. The government plans to subsidize the costs associated with storing crops. This means that if a farmer is unable to secure a favorable price for their produce immediately after harvest, they can store their crops in a warehouse until market prices improve. This flexibility can significantly impact farmers’ profitability.
Another notable feature of the PM Kisan Bhai scheme is the prompt repayment incentive. Farmers who repay their loans on time may receive bonuses, similar to how individuals earn rewards for timely credit card payments. This incentive encourages responsible financial behavior and helps farmers maintain good credit standings.
The scheme has a substantial financial backing of Rs. 170 crore. Additionally, it is set to integrate with the electronic National Agriculture Market (e-NAM), which aims to provide farmers with better pricing information and fairer market access for their crops. This digital integration is expected to enhance transparency and efficiency in the agricultural sector.
Despite its potential benefits, the PM Kisan Bhai scheme faces several challenges. One of the primary hurdles is securing adequate storage facilities for crops. Furthermore, convincing banks to offer loans against stored crops poses a significant obstacle. Addressing these issues is crucial for the successful implementation of the scheme.
Q1. What is the PM Kisan Bhai scheme?
Answer: The PM Kisan Bhai scheme is a government initiative aimed at supporting small farmers by providing subsidies for crop storage and incentivizing timely loan repayments.
Q2. How does the warehousing rental subsidy work?
Answer: Under this scheme, the government will subsidize the costs of storing crops, allowing farmers to store their produce until market prices are favorable.
Q3. What are the benefits of prompt repayment incentives for farmers?
Answer: Farmers who repay their loans promptly may receive bonuses, promoting responsible financial behavior and improving their credit ratings.
Q4. How is the PM Kisan Bhai scheme funded?
Answer: The scheme is supported by a budget allocation of Rs. 170 crore, aimed at enhancing the financial well-being of small-scale farmers.
Q5. What challenges does the PM Kisan Bhai scheme face?
Answer: Key challenges include securing sufficient storage facilities and obtaining bank loans against stored crops, which need to be addressed for success.
Question 1: What is the primary aim of the PM Kisan Bhai scheme?
A) To enhance large-scale farming
B) To support small-scale farmers
C) To promote urban agriculture
D) To increase crop prices
Correct Answer: B
Question 2: What financial support does the PM Kisan Bhai scheme offer?
A) Direct cash transfers
B) Warehousing rental subsidies
C) Free seeds
D) Agricultural equipment loans
Correct Answer: B
Question 3: How much is the budget for the PM Kisan Bhai scheme?
A) Rs. 50 crore
B) Rs. 100 crore
C) Rs. 170 crore
D) Rs. 200 crore
Correct Answer: C
Question 4: What is a potential challenge for the PM Kisan Bhai scheme?
A) Excess funding
B) Securing storage facilities
C) Overproduction of crops
D) Increase in crop prices
Correct Answer: B
Question 5: Which platform will the PM Kisan Bhai scheme integrate with?
A) e-NAM
B) e-Governance
C) Digital India
D) Krishi Vigyan Kendras
Correct Answer: A
Question 6: What type of incentive is offered for timely loan repayment?
A) Tax exemption
B) Cash prizes
C) Bonuses
D) Equipment grants
Correct Answer: C
Question 7: Who will benefit the most from the PM Kisan Bhai scheme?
A) Large farmers
B) Small-scale farmers
C) Agricultural researchers
D) Urban gardeners
Correct Answer: B
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