New Delhi: Prime Minister Narendra Modi, who was sworn in for this third term on Sunday, sanctioned the 17th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on Monday.
The latest instalment of the PM-KISAN scheme is set to benefit approximately 9.3 crore farmers across the country, involving a distribution of around Rs 20,000 crore. "Ours is a Government fully committed to Kisan Kalyan," Prime Minister Modi stated. "It is therefore fitting that the first file signed on taking charge is related to farmer welfare. We want to keep working even more for the farmers and the agriculture sector in the times to come."
The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme provides income assistance to all landholding farmer families to support their financial requirements for agricultural activities and household necessities. Under the scheme, the government bears the entire financial burden to ensure the benefits reach eligible farmers.
Launched in February 2019 and retrospectively effective from December 2018, the PM-KISAN scheme offers an annual financial assistance of Rs 6,000 to eligible farmers. This amount is disbursed in three equal instalments of Rs 2,000 every four months, directly into the beneficiaries' bank accounts.
In a related development, the government has allocated Rs 1.27 lakh crore for the Ministry of Agriculture for the fiscal year 2024-25, according to interim budget documents. This allocation marks a marginal increase from the current fiscal year, with the full budget expected to be announced in July 2024.
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