Framework for Doubling Farmers’ Income

    • Ministry of Agriculture & Farmers Welfare has finalised “Framework for Doubling Farmers’ Income”.
    • The Government had constituted an Inter-ministerial Committee in April, 2016 to examine issues for “Doubling of Farmers Income” and recommend strategies to achieve the same.
    • The Committee has submitted its Report in September, 2018. Seven major resources proposed: 
        • improvement in crop productivity;
        • improvement in livestock productivity;
        • resource use efficiency or savings in the cost of production;
        • increase in the cropping intensity;
        • diversification towards high value crops;
        • improvement in real prices received by farmers; and
        • shift from farm to non-farm occupations.
  • Some important programmes of agriculture to raise farmers income are as follows:
      • Kisan Credit Cards provides agriculture credit to farmers at subsidized rates, with a 2% interest subvention (IS) and Prompt Repayment Incentive (PRI) of 3% so as to make the effective rate of interest as 4%.
      • for Crop insurance coverage ,  Government has launched  Pradhan Mantri Fasal Bima Yojana (PMFBY) from Kharif 2016 season.
      • To boost the farmers income, the Government has approved the increase in the Minimum Support Price (MSPs) for all Kharif & Rabi crops for 2018-19.
      • Pradhan Mantri Kisan SAmman Nidhi (PM-KISAN) will provide a payment of Rs. 6000/- per year, in three 4-monthly installments of Rs. 2000/- to the farmers.
      • Central Sector Scheme for providing old age pension to these farmers. Under this Scheme, a minimum fixed pension of Rs. 3000/- be provided to the eligible small and marginal farmers, subject to certain exclusion clauses, on attaining the age of 60 years.