Prime Minister Narendra Modi on May 31 released Rs 21,000 crore to more than 10 crore beneficiary farmers, the 11th instalment under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.
Ahead of the Lok Sabha polls, the Centre announced the Rs 75,000-crore Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme under which Rs 6,000 per year would be paid to 12 crore farmers in three equal instalments.
In his budget speech on February 1, Finance Minister Piyush Goyal announced 'Pradhan Mantri Kisan Samman Nidhi' (PM-KISAN) scheme under which Rs 6,000 per year would be provided to farmers holding cultivable land of up to 2 hectare.
It is a welcome move as unlike loan waivers, direct income support doesn’t adversely impact the banking system, At the same time, PM Kisan will boost rural consumption