Prime Minister (PM) Narendra Modi has released the 8th installment of funds to beneficiaries under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme. Around ~INR 20, 667 Crore was distributed to around 9.5 Crore farmer beneficiaries in the 8 installment.
- For the 1st time, farmers in West Bengal joined the PM-KISAN Scheme, and around 7 Lakh Bengal farmers received their 1st installment.
- ~2.25 Crore farmer beneficiaries from Uttar Pradesh received the PM KISAN Fund.Uttar Pradesh received the largest amount of fund(~5150 Crore) under PM-KISAN during the 8th installment.
- Farmers from Punjab and Haryana for the first time are connected with DBT (direct benefit transfer) to receive the fund under PM-KISAN.
i.It was launched on 24th February, 2019 by PM Narendra Modi at Gorakhpur, Uttar Pradesh.
ii.It is 100% funded by the Central Government.
iii.Objective – To supplement the income of farmers by providing income support to all farmer families in India irrespective of the size of their landholdings.
iv.Financial Benefit – An amount of INR 6000 per year is provided to eligible beneficiary farmer families in 3-equal four monthly installments of INR 2000 each.
v.The amount is directly transferred into the bank accounts of the beneficiaries through Direct Benefit Transfer (DBT) mode.
- Under the scheme, funds worth INR 1.15 lakh crore have been transferred to farmer families so far.
- The Government has allocated INR 65, 000 Crore for the scheme in the Union Budget 2021-22.
- So far, 11.80 crore have registered under the scheme. 10.82 crore farmers have received the amount.
Highlights from PM Modi’s address
i. Government is setting new records in procurement at MSP (Minimum Support Price) every year.
- So far in 2021, about 10% more wheat has been procured at MSP compared to 2020.
- Around INR 58, 000 Crore for wheat procurement has reached farmers’ accounts directly.
Recent Related News:
24th February, 2021 is the 2nd Anniversary of the starting of the Central Sector Scheme ‘PM KISAN’. It was launched by 24th February, 2019 by Prime Minister Narendra Modi at Gorakhpur, Uttar Pradesh.
About Ministry of Agriculture & Farmers Welfare:
Union Minister – Narendra Singh Tomar (Lok Sabha – Morena, Madhya Pradesh)
Minister of State (MoS) – Parshottam Rupala (Rajya Sabha – Gujarat), Kailash Choudhary (Lok Sabha – Barmer, Rajasthan)