Prime Minister Narendra Modi released the eighth installment of the financial benefit under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme via video conferencing on Friday. As part of this installment, more than ?19,000 crore was transferred in the bank accounts of over 9.5 crore beneficiary farmer families.
After releasing the fund, Prime Minister Modi will interact with farmer-beneficiaries and Union Agriculture Minister Narendra Singh Tomar will also be present on the occasion.
PM-Kisan is a central sector scheme with 100 per cent funding from the Government of India. The scheme was launched in December 2018. Under the scheme, income support of ?6,000 per year in three equal installments of ?2000 is provided to small and marginal farmers having a combined land holding of up to two hectares.
The state governments and Union Territory administration identify the farmers who are eligible for the scheme and share the list with the Centre. The central government then directly transfers the fund to the bank accounts of the beneficiaries. So far, over ?1.15 lakh crores has been transferred to farmers under the scheme.
The 7th instalment was disbursed in December 2020. On December 25, the prime minister released the 7th instalment of PM-Kisan. After transferring the fund, the prime minister had interacted with farmers from Arunachal Pradesh, Odisha, Haryana, Tamil Nadu, Uttar Pradesh, Maharashtra, and Madhya Pradesh. In the 7th instalment, ?18000 crore had been deposited in the bank account of 9 crore farmer families.
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