PM KISAN benefits worth over Rs 3 lakh crore transferred to farmers so far

Of the Rs 3 lakh crore, Rs 1.75 lakh crore was transferred to eligible farmers during the COVID-19 pandemic alone, when they needed direct cash benefits the most. (Representative image)

Under PM KISAN, one of the largest direct benefit transfer (DBT) programmes in the world, Rs 3 lakh crore have been transferred to farmers so far, the Ministry of Agriculture and Farmers Welfare said on February 29.

With Prime Minister Narendra Modi releasing the 16th instalment from Yavatmal in Maharashtra, the scheme benefitted more than 11 crore eligible farmer families with Rs 3 lakh crore disbursed till date. Of this, Rs 1.75 lakh crore was transferred to eligible farmers during the COVID-19 pandemic alone, when they needed direct cash benefits the most.

Considering the need for positive supplementary income support for the farmer families in the country and to promote a productive, competitive, diversified, inclusive and sustainable agriculture sector, the Government of India had launched the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) on February 2, 2019.

Under the scheme, the eligible farmer families are provided a benefit of Rs 6,000 per year in three equal installments of Rs 2,000 each, every four months. The benefit is transferred directly to the bank accounts of eligible beneficiaries.

Recently, as part of the Viksit Bharat Sankalp Yatra, undertaken to ensure the saturation of the Centre’s welfare schemes across more than 2.60 lakh Gram Panchayats, 90 lakh eligible farmers were added to the PM KISAN Scheme, the ministry informed.

In the last five years, the scheme has crossed many milestones and has received accolades from various organisations, including the World Bank, the ministry added.