According to statistical data presented to Parliament by the agriculture ministry, almost ₹374.78 crore is due for reprocessing after failed transactions happened under the central initiative PM-KISAN since its introduction in 2019.
When the Pradhan Mantri Samman Nidhi Yojana (PM-KISAN) was introduced in February 2019, there was 14.22 lakh pending failed transactions under the yojana, which gives eligible marginal farmers ₹6,000 annually in three equal instalments.
As a result, during the 2020-21 fiscal year, the number of pending failed transactions was reduced to 8.19 lakh. However, as of November 30, the number of pending failed transactions in the current fiscal year 2021-22 stands at 9.11 lakh, according to the data.
As per the statistics, the amount pending for reprocessing due to failed transactions was ₹182.78 crore in the 2019-20 fiscal year, ₹163.99 crore in the 2020-21 fiscal year, and ₹28.47 crore in the 2021-22 fiscal year.
According to the data, the total amount pending for reprocessing under the PM-KISAN scheme from 2019-20 until November 20 of this year is 374.78 crore.
In a written response to the Upper House, the agriculture minister stated that failed transactions have remained less than 1% since the launch of the PM-KISAN yojana.
‘Under the PM-KISAN scheme, the total number of transactions that have taken place is 80,27,44,674, with less than 1% of transactions failing,’ he said. Tomar stated that the total number of failed PM-KISAN transactions from February 1, 2019, to November 30, 2019, was 69,02,227, out of which, 32,02,408 transactions were successfully reprocessed.
The minister stated that the Centre has identified multiple reasons for the transaction’s failure under the PM-KISAN scheme, including account closure or transfer, account inactive, invalid IFSC code, account dormant, and amount exceeding the bank’s credit/debit per transaction limit, amongst many others.
To address the issue of transaction failures and re-processing payments for such registered farmers’ families, Tomar stated that a standard operating procedure has been developed and distributed to all states for necessary action.
When states/UTs take corrective action, such transaction failure records are opened to the respective state/UT for correction under the ‘Correction Module’ tab of the PM-KISAN website. Following that, all transaction failure records are reprocessed in order to pay the respective instalment under the PM-KISAN Scheme, he added.
Upload correct data
Tomar also stated that his ministry takes up the issue with state governments on a weekly basis via video conferencing in order to expedite the resolution of the issue and reprocess the failed transactions for the payment of the respective instalments under the scheme.
Furthermore, the minister stated that it is the responsibility of the respective state governments to identify the beneficiaries and upload their correct and verified data to the PM-KISAN website.
The data received on the PM-KISAN web portal is verified and validated at multiple levels, including Aadhar and income tax databases. He went on to say that the financial benefits are then passed on to the eligible beneficiaries.
Since the scheme’s inception, more than 11.60 crore farmers have received financial benefits totalling approximately ₹1.60 lakh crore through various instalments, according to Tomar, in response to another question.