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PM-KISAN scheme: PM Modi releases 8th instalment worth over Rs 20,000 crore to 9.5 crore farmers

 Prime Minister Narendra Modi on Friday directly transferred around Rs 19,000 crores to the bank accounts of 10 crore farmers across the country under the Pradhan Mantri Kisan Samman Nidhi.
 

PM-KISAN scheme PM Modi releases 8th instalment worth over Rs 20,000 crore to 9.5 crore farmers -dnm
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New Delhi, First Published May 14, 2021, 1:26 PM IST

New Delhi: Prime Minister Narendra Modi released the 8th instalment of over Rs 20,000 crore to more than 9.5 crore farmer beneficiaries under the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme on Friday via video-conferencing.

While speaking at the occasion of transferring of the eighth installment under the PM-KISAN, the Prime Minister said that farmers from West Bengal will benefit from the scheme for the first time.

"On this auspicious day of Akshaya Tritya, around Rs 19,000 crores have directly been transferred to the banks of farmers. It would benefit close to 10 crore farmers. For the first time, farmers from West Bengal will be benefitted from this scheme," PM Modi said.

Prime Minister also interacted with farmer-beneficiaries during the event. Agriculture Minister Narendra Singh Tomar, who was present on the occasion, said West Bengal has joined the scheme with more than 7 lakh farmers of the state getting the benefit today.

The fund is transferred directly to the bank accounts of the beneficiaries. In this scheme, Samman Rashi of over Rs 1.15 lakh crores has been transferred to farmer families so far.

Under the PM-KISAN scheme, the government is providing Rs 6,000 in three equal instalments to 14 crore farmers annually. The amount is directly transferred into the bank accounts of the beneficiaries through direct benefit transfer (DBT) mode.

An amount of over Rs 1.15 lakh crore has been transferred to farmer beneficiaries so far under the PM-KISAN scheme, launched on February 24, 2019.

PM Modi further lauded the efforts of the country's farmers who, despite the ongoing Covid-19 pandemic, created records in agriculture and gardening.

He added that the government had purchased 10% more wheat on minimum support price (MSP) this year.

"Amid the difficult challenges of Covid-19, farmers have made records in agriculture and gardening while the government is also setting new records on procurement on MSP every year. In comparison to last year, 10% more wheat has been purchased on MSP this year," he said.

"The government is constantly striving to provide new solutions, new options in farming. Such efforts are to promote organic farming. The cost of such crops is also low, they are beneficial for the soil, are healthy, and can fetch a higher price," he added.

The PM Kisan Samman Nidhi Yojana was announced by Union minister Piyush Goyal during the 2019 interim Union Budget. The scheme has cost the government Rs 75,000 crore per annum after coming into effect from December 2019.

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