New Delhi: Prime Minister Narendra Modi will release the 12th instalment of benefits worth ₹16,000 crore under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme to more than 10 crore farmers on 17 October, the Ministry of Agriculture & Farmers Welfare said in a statement.
With the release, the total amount transferred to beneficiaries is expected to cross well over ₹2.16 trillion, it said.
The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme was launched by Modi in 2019. The scheme aims to provide income support to all landholder farmer families across the country with cultivable land, subject to certain exclusions.
Under the scheme, an amount of ₹6000 per year is released in 4-month instalments of ₹2000 each directly into the bank accounts of the beneficiaries. In a financial year, PM Kisan instalment is credited thrice through –Period 1 from April-July; Period 2 from August to November; and Period 3 from December to March.
Funds are directly credited to the bank accounts of eligible beneficiaries through Direct Benefit Transfer.
So far, more than ₹2 trillion have been transferred under PM-KISAN through 11 instalments. Of this, ₹1.6 trillion was transferred during the COVID pandemic period.
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