On the auspicious occasion of Akshaya Tritiya that falls on May 14, farmers will receive the eighth installment of the Prime Minister Kisan Samman Nidhi Scheme (PM-KISAN).
In this installment, atleast 9.5 crore beneficiary farmer families will receive a transferred amount of over Rs. 19,000 crores. The seventh installment of PM Kisan was transferred on December 25.
An official release from the Prime Minister’s office on Thursday read that Prime Minister Narendra Modi will release the eighth installment of the financial benefit under PM-KISAN on May 14, Friday, at 11 am via video conferencing.
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The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme was launched by PM Modi in 2019.
The PM-Kisan scheme primary objective is to provide income support to all landholder farmer families across the country with cultivable land.
Under the Scheme, an amount of Rs 6000 per year is released in three 4-monthly installments of Rs 2000 each directly into the bank accounts of the beneficiaries.
In a financial year, PM Kisan installment is credited thrice through –Period 1 from April-July; Period 2 from August to November; and Period 3 from December to March.
In this scheme, Samman Rashi of over Rs. 1.15 lakh crores has been transferred to farmer families so far.
As per reports, initially, the scheme’s benefits were limited to small & marginal Farmers’ families, with combined landholding up to 2 hectare. The Scheme was later on revised in June 2019 and extended to all farmer families irrespective of the size of their landholdings
The Central Government had notified a decision to extend the benefit of Rs 6,000 per year under the Pradhan Mantri Kisan Samman Nidhi scheme to all 14.5 crore farmers in the country, irrespective of the size of their landholding, reports added.