IBEF: December 30, 2021
India’s Prime Minister Mr Narendra Modi is set to release more than Rs 20,000 crore (US$ 2.68 billion) to nearly 100 million beneficiary farmer families on January 1, 2022, the first day of the new year under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). This will be the 10th instalment of financial benefits under this scheme.
Under the scheme, a financial benefit of Rs 6,000 (US$ 80.4) per year is provided to the eligible beneficiary farmer families, payable directly to the bank accounts of beneficiaries in three equal 4-monthly instalments of Rs 2000 (US$ 26.8) each.
So far, a total amount of Rs 1.6 lakh crore (US$ 21.5 billion) has been transferred under this scheme.
During the programme, the Prime Minister will also release an equity grant of more than Rs 14 crore (US$ 1.88 million) to about 351 Farmer Producer Organizations (FPOs), which will benefit more than 0.124 million farmers.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.