PM Modi disburses ₹16,800 cr to 80 million farmers under PM-KISAN scheme

Prime Minister Narendra Modi Monday disbursed ₹16,800 crore to nearly 80 million farmers through direct benefit transfer under the PM-KISAN scheme on Monday in Karnataka’s Belagavi.

Under PM-KISAN, the government provides income support of ₹6,000 a year to farmers with a valid enrolment, paid in three equal cash transfers of ₹2,000—one every four months. It was launched on February, 24, 2019, when the first instalment was paid.

This is the 13th installment under the scheme. The 11th and 12th instalments under the PM-KISAN scheme were released in May and October 2022.

“Another instalment of PM-KISAN has been transferred today. The amount has been directly transferred to the bank accounts of the beneficiaries,” the Prime Minister’s Office (PMO) tweeted.

Since its launch, the government has disbursed more than ₹2.24 lakh crore to eligible farmers through various instalments. PM-KISAN is a central sector scheme with 100 per cent funding from the central government. Identification of beneficiaries is the responsibility of state governments as per scheme guidelines. Any land-owning farming household can enroll itself subject to exclusions, such as income ceilings, tax payments and total asset value.

During the Covid lockdown, ₹1.75 lakh crore was distributed in multiple instalments to support farmers. The scheme has also benefited over 30 million women farmers who collectively received over Rs. 53,600 crores, the government said.

The initiative’s funds have spurred rural economic growth, eased credit constraints for farmers and boosted agricultural investments, the government said in a statement Sunday. It has also increased farmers’ risk-taking capacity, leading to more productive investments.