The agricultural sector constitutes the backbone of the Indian economy, sustaining the livelihoods of nearly approximately 43 per cent of the population and playing a pivotal role in ensuring national food security and economic growth. Recognizing its importance, the Indian Government has implemented a range of welfare schemes to strengthen the agricultural sector and improve the socio-economic well-being of farmers. This paper analyzes two flagship schemes—PM-KISAN and PMFBY—to examine their contribution to farmers’ development. For PM-KISAN, the analysis focuses on the effectiveness of scheme implementation through Aadhaar-based verification and mobile-linked direct benefit transfers over the years. The performance of PMFBY has been comparatively examined for the Kharif and Rabi seasons. Various statistical tools, including correlation coefficients and regression analysis, have been used to derive conclusions regarding the Influence of these schemes. The results represents that both PM-KISAN and PMFBY have had a positive effect on the socio-economic development of farmers. The study also implies that enhancements in rural infrastructure and enhanced awareness campaigns are essential to further strengthen the outreach and effectiveness of these schemes.