Finance Minister Nirmala Sitharaman announced on Thursday that a total of 11.8 crore farmers have received financial assistance under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojana. PM-KISAN is recognized as one of the world’s largest Direct Benefit Transfer (DBT) schemes. Through this initiative, the government provides a financial benefit of Rs 6,000 per year to farmers, distributed in three equal four-monthly installments. The money is directly transferred into the bank accounts of farmers’ families across the nation using the DBT mode. The PM-KISAN scheme, introduced in February 2019 in the interim budget, has been operational since December 2018.
This substantial Direct Benefit Transfer scheme aims to support and empower farmers by providing them with financial aid, contributing to their economic well-being. With millions of farmers benefitting from the PM-KISAN Yojana, it plays a crucial role in enhancing the livelihoods of those engaged in agriculture across the country. The scheme’s design ensures a systematic and direct channel for financial assistance, emphasizing the government’s commitment to uplifting the agricultural sector and the farmers associated with it.
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