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17th instalment of PM Kisan Yojana: PM Modi disburses Rs 20,000 cr to over 9.2 cr farmers (WATCH)

Speaking at the event in Varanasi, PM Modi highlighted the success of the PM Kisan Samman Nidhi Yojana, noting that it has become the world's largest Direct Benefit Transfer scheme.

Prime Minister Narendra Modi releases 17th instalment of PM Kisan Samman Nidhi Yojana in Varanasi (WATCH) AJR
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First Published Jun 18, 2024, 5:46 PM IST

Prime Minister Narendra Modi on Tuesday (June 18) released the 17th instalment of the PM Kisan Samman Nidhi Yojana in Varanasi, Uttar Pradesh. This latest instalment benefits more than 9.26 crore farmers, amounting to over Rs 20,000 crore.

In his first major action after being sworn in for a third consecutive term, PM Modi authorized the release of the scheme's 17th instalment last week.

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Speaking at the event in Varanasi, PM Modi highlighted the success of the PM Kisan Samman Nidhi Yojana, noting that it has become the world's largest Direct Benefit Transfer scheme.

"More than 31 crore women voters have participated in this election. This is the highest number of women voters in the world. This number is close to the entire population of America. This beauty, this strength of Indian democracy attracts and influences the whole world. I thank every voter of Varanasi for making the festival of democracy a success," PM Modi said.

"The people of Kashi have not only elected an MP but also a PM for the third time. The mandate given by the people of the country in this election is truly unprecedented. This mandate has created a new history. It is rarely seen in the democratic countries of the world that an elected government returns for the third consecutive time," the Prime Minister said.

The PM-KISAN scheme, launched in 2019, aims to supplement the financial needs of all land-holding farmers, with certain exclusions for higher income groups. Under this scheme, a financial benefit of Rs 6,000 per year is provided in three equal installments every four months.

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This amount is directly transferred to the bank accounts of farmers' families across the country through the Direct Benefit Transfer (DBT) mode.

To date, over Rs 3.04 lakh crores have been disbursed to more than 11 crore farmers nationwide. With the latest release, the total amount transferred to beneficiaries since the scheme's inception will exceed Rs 3.24 lakh crores.

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