PM Modi Releases ₹20,900 Crore To Farmers Under PM-KISAN Scheme

TPI Staff January 1, 2022

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Mumbai: PM Narendra Modi on Friday released ₹20,900 crore financial benefit to more than 10.09 crore farmers under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.

Modi released the amount to the beneficiaries in the program organized through video conferencing.

Under the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme, a financial benefit of Rs 6,000 per year is provided to eligible farmer families, payable in three equal instalments of Rs 2,000 each. The money is directly transferred to the bank account of the beneficiaries.

During the virtual event, the Prime Minister also released an equity grant of over Rs 14 crore to around 351 Farmer Producer Organizations (FPOs), benefiting 1.24 lakh farmers.

The virtual event was attended by nine chief ministers, several ministers from different states and representatives of agricultural institutions.

On this occasion, Union Agriculture Minister Narendra Singh Tomar said that on the first day of the new year 2022, about 20,900 crore rupees are being transferred to about 10.09 crore beneficiaries. He also said that the PM-Kisan program was launched as part of the government’s effort to double the income of farmers.

The 9th instalment of PM-KISAN was released in August 2021.

With the release of the latest instalment, the total amount provided under the scheme has gone up to around Rs 1.8 lakh crore. The PM-Kisan scheme was announced in the February 2019 budget. The first installation was done for the period from December 2018 to March 2019.