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HomeNewsTrendsCurrent AffairsPM Modi transfers Rs 19,500 crore to nearly 10 crore farmers under PM-KISAN; money to help in current sowing

PM Modi transfers Rs 19,500 crore to nearly 10 crore farmers under PM-KISAN; money to help in current sowing

Addressing the virtual event, Modi said the government has transferred over Rs 19,500 crore directly to nearly 10 crore farmers and this amount will be useful for them.

August 09, 2021 / 22:40 IST
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Prime Minister Narendra Modi on Monday transferred about Rs 19,500 crore to over 9.75 crore beneficiary farmers under the flagship scheme PM-KISAN and said the government is taking several steps to double the income of the farming community.

Under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, the Centre provides an annual financial benefit of Rs 6,000 to eligible beneficiary farmers in three equal four-monthly installments of Rs 2,000 each.

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The scheme was announced by the government in February 2019 in the Budget. The first installment was released for December 2018-March 2019 period. The fund is transferred directly to the bank accounts of the beneficiaries.

On Monday, the prime minister virtually released the ninth installment for the beneficiaries. With this, the government has so far transferred around Rs 1.57 lakh crore to farmer families.