Outlook Money
This scheme supports small and marginal farmers nationwide by procuring yields and providing inputs for crop health.
The aim is to provide financial assistance to farmers with cultivable land holdings through an annual budgetary allocation.
Installments of Rs 6,000 are done annually by the central government. This is done through three equal instalments every four months to eligible farmer's bank accounts.
The benefit of the scheme is that it discourages farmers from falling into the debt trap of moneylenders for small sums of money and boosts soil fertility and food production.
The applicant must provide an Aadhaar card, landholding documents, and bank account information. The village-level entrepreneur (VLE) requires the farmer's registration details including land details. After this all documents are uploaded, including land, bank, and personal details. This is followed by self-declaration, acceptance, and saving the application form. After saving, make the payment and check the beneficiary status using the Aadhaar number.
The scheme does not cover farmers of higher economic status, including institutional landholders, affluent farmers, former and present constitutional post holders, pensioners with monthly pensions of Rs.10,000 or more, and professionals like doctors, etc.