NEW DELHI: Prime Minister Narendra Modi will release Rs 2,000 each to farmers under the PM Kisan Samman Nidhi Scheme (PM-KISAN) scheme on Monday, said a press release by Ministry of Agriculture and Farmers Welfare on Sunday.
A total of more than Rs. 16,800 crores will be deposited directly in the accounts of more than eight crore farmers under the Scheme, added the press release.
The highly anticipated release of the PM-KISAN 13th instalment, in conjunction with the Indian Railways and the Jal Jeevan Mission, will take place at Belagavi, Karnataka.
The Union Minister of Agriculture & Farmers Welfare, Narendra Singh Tomar and the Secretary, Ministry of Agriculture and Farmers Welfare, Manoj Ahuja will be present. The event is anticipated to draw an impressive attendance of over one lakh attendees, comprising PM-KISAN and Jal Jeevan Mission beneficiaries.
The 11th and 12th instalments under the Scheme were given in May and October last year. With the release of the 13th instalment, the government has continued its commitment to support India’s farmers and help them achieve their livelihood goals. The PM-KISAN Scheme has already provided significant benefits to farmers across the country, and this latest instalment will further boost their incomes and contribute to the growth of the agriculture sector.
PM Modi launched the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme in 2019. The Scheme aims to provide income support to all landholder farmer families across the country with cultivable land, subject to specific exclusions.
Under the Scheme, an amount of Rs 6000 per year is released in three instalments of Rs 2000 each directly into the beneficiaries’ bank accounts. All landholding farmer families in the country are eligible under PM KISAN, subject to certain exclusion criteria.
Till now, over 2.25 lakh crores of funds have been disbursed to more than 11 crore farmer families, primarily the small and marginal. Notably, during the Covid lockdown, Rs. 1.75 lakh crores were distributed in multiple instalments to support these needy farmers. The Scheme has also benefited over three crore women beneficiaries who have collectively received over Rs. 53,600 crores in funds.
The initiative’s funds have spurred rural economic growth, eased credit constraints for farmers and boosted agricultural investments. It has also increased farmers’ risk-taking capacity, leading to more productive investments.
According to IFPRI, PM-KISAN funds are helping recipients meet their agricultural needs and other expenses like education, medical care and marriage. (ANI)