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PM Modi releases over 20K crore as 10th installment of PM-KISAN today

By Saima Siddiqui 
Updated Date
PM Modi releases over 20K crore as 10th installment of PM-KISAN today

New Delhi: Prime Minister Narendra Modi on the first day of the new year released over Rs 20,900 crore to about 10.09 crore farmers as 10th instalment under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). During the event, PM Modi also released an equity grant of more than Rs 14 crores to about 351 Farmer Producer Organizations (FPOs), which will benefit more than 1.24 lakh farmers. 

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Under the PM-KISAN effective from 1st December 2018, the Central Government has so far sent more than Rs 1.61 lakh crore to more than 11.5 beneficiary farmer families in the accounts of farmer families: Narendra Singh Tomar, Union Agriculture Minister

According to an official statement the initiative is in line with the government’s continued commitment and resolve to empower grassroots level farmers.

Notably, under the scheme, eligible farmers are provided a financial benefit of ₹6,000 per year which is payable in three equal four-monthly instalments of ₹2,000. The fund is transferred directly to the bank accounts of the beneficiaries.

According to news reports, an amount of over ₹1.6 lakh crore has been transferred to farmer families so far under this scheme.

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The scheme is also not valid for owners of farmlands who are either current or retired government employees, serving or former MPs and MLAs or ministers, according to media.

Those who are using their farmlands for some work other than farming are ineligible for benefit under the scheme. Also, people working on the farm of another person and are not owners of the land are ineligible.

Meanwhile, during the event, the Prime Minister will also release an equity grant of more than ₹14 crores to about 351 Farmer Producer Organizations (FPOs), which will benefit more than 1.24 lakh farmers, reported media.

Modi is also expected to address the nation during the event, said the report further.

The ninth instalment of the PM-KISAN scheme was released by the Prime Minister in August this year when he virtually transferred ₹19,500 crore to over 9.75 crore farmers.

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