Government signed $80M loan with the world bank to develop agriculture

The Agriculture sector holds a significant contribution to the Indian economy. Which means, improving agriculture will strengthen the economy too. That is why the government has also started focusing more and more on the agriculture sector since the last few years. In the same episode, the Government of Himachal Pradesh signed an $80 million loan agreement with the World Bank to develop the state’s agriculture.

This amount will be spent mainly on improving water management practices and increasing agricultural productivity in various Gram Panchayats of Himachal Pradesh. According to a media report, this project will be executed in 10 districts of the state covering 428 Gram Panchayats. It will benefit around 400,000 smallholder farmers.

This project will be very beneficial for the farmers of Himachal Pradesh, as many of the lowland areas of the state lack sufficient water for irrigation and are chiefly dependent on rainwater. But the constant decrease in the rainfall and climate change is affecting the production of fruits grown in Himachal Pradesh, including its iconic apples. This step could also play a big role in contributing to the central government’s mission of doubling the farmers’ incomes.

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What is PM Kisan scheme and what are its benefits?

PM Kisan scheme-

The Pradhan Mantri Kisan Samman Nidhi (generally known as the PM Kisan Yojana) is a central government’s scheme, which aims to provide income support to Indian farmers so that they can meet their financial needs regarding various agricultural inputs. This scheme was launched on 24th February 2019 by the Hon’ble Prime Minister of India. Initially, the benefits of this scheme applied to the small & Marginal farmers only, but now it is extended to all farmer families, irrespective of the size of their landholdings.

Benefits of the scheme

Under the PM-KISAN scheme, each eligible farming family will be provided with a financial benefit of 6000 Rs per annum. This amount will be provided in three equal instalments of Rs. 2000 each, which would be provided every fourth month.

This scheme had already proved to be very fruitful to millions of farmers. According to a media report, around 7.6 crore farmers had received its benefits until November 2019. And now the government has added even more features to this scheme. Along with the scheme, farmers will also get many other additional benefits and facilities.

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