PM-KISAN Milestone: Financial Assistance To Farmers Set To Surpass Rs 2.59 Lakh Crore
New Delhi, 27th July 2023: On Thursday, Prime Minister Narendra Modi is set to release approximately Rs 17,000 crore as the 14th instalment to around 8.5 crore farmer beneficiaries under the PM-KISAN scheme. This significant amount will be transferred directly to the bank accounts of the beneficiaries during an event in Sikar, Rajasthan, as stated in an official announcement.
Since the launch of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on February 24, 2019 (effective from December 2018), the total financial assistance provided to farmers is expected to surpass Rs 2.59 lakh crore. According to the statement, this financial assistance plays a vital role in supporting farmers to fulfil their daily requirements and improve their overall welfare.
The PM-KISAN scheme follows a central government initiative that transfers financial benefits of Rs 6,000 per year, distributed in three equal instalments, directly to the bank accounts of farmers’ families across the nation through the Direct Benefit Transfer (DBT) mode.
To date, over Rs 2.42 lakh crore in benefits have been disbursed to more than 11 crore farmers nationwide. Additionally, during the event, Prime Minister Modi will dedicate 1.25 lakh PM Kisan Samriddhi Kendras (PMKSKs) to the country, signifying the government’s ongoing efforts to convert retail fertilizer shops into these agricultural service centres.
The PMKSKs will play a vital role in providing agri-inputs, soil testing facilities, seeds, and fertilizers to farmers. Moreover, they will act as platforms to raise awareness among farmers, disseminate information about various government schemes, and offer regular capacity building for retailers at the block- and district-level outlets.
As part of the event, Prime Minister Modi will also launch “sulphur-coated urea” (urea gold) and initiate the onboarding of 1,600 farmer-producer organizations on the ONDC (One Nation One Database for Agriculture). These steps are geared towards further improving agricultural practices and the overall welfare of farmers across the country.
