Prime Minister Narendra Modi will release the next installment of financial benefit under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on August 9 at 12:30 pm via video conferencing.
"This will enable the transfer of an amount of more than Rs 19,500 crores to more than 9.75 crores beneficiary farmer families. Prime Minister will interact with farmer beneficiaries during the event and will also address the nation," read the official release by the Prime Minister's Office.
Under the PM-KISAN scheme, a financial benefit of Rs 6000 per year is provided to the eligible beneficiary farmer families, payable in three equal four-monthly installments of Rs 2000 each.
The fund is transferred directly to the bank accounts of the beneficiaries. In this scheme, Samman Rashi of over Rs 1.38 lakh crores has been transferred to farmer families so far.
Union Agriculture Minister Narendra Singh Tomar will also be present on the occasion. Earlier, on May 14, Prime Minister Narendra Modi released the 8th instalment of financial benefit under the Pradhan Mantri Kisan Samman Nidhi scheme via video conferencing.
Here’s all you need to know about the PM-Kisan scheme:
The scheme is popularly known as PM-Kisan Yojana and was launched on 1 February 2019 under the Ministry of Agriculture and Farmers Welfare.
PM-Kisan scheme provides income support to small and marginal farmers' families having combined landholding/ownership of up to 2 hectares.
Under the scheme, an amount of Rs 6000 per year is transferred in three installments of Rs 2000 directly into the bank accounts of the farmers. Landholding farmers’ families from both urban and rural areas can apply for the scheme. However, farmers who pay income tax, institutional landowners and retired pensioners with monthly pensions over 10,000 are not eligible for the scheme.
The fund will be directly transferred to the beneficiaries' bank accounts.
The state government and UT administration will identify the farmer families that are eligible as per the scheme guidelines.
The scheme also aims to supplement the financial needs of the farmers in procuring various inputs to ensure proper crop health and appropriate yields.
