Prime Minister Narendra Modi today transferred Rs 17,100 crores to the bank accounts of over 8.5 crore farmers as part of the PM-KISAN scheme.
The amount was part of the sixth installment of the scheme launched in 2018. The government claims to have provided a direct cash benefit of over Rs. 75,000 Crore to more than 9.9 Crore farmers as part of the scheme which was launched in December, 2018.
The announcement was made during the launch of a financing facility for agri-entrepreneurs, startups, agri-tech players and farmer groups for post-harvest management and nurturing farm assets.
The government has set aside Rs 1 lakh crore for the new Agriculture Infrastructure Fund to catalyze the creation of post-harvest management infrastructure and community farming assets such as cold storage, collection centres, processing units, etc.
Under the PM-KISAN scheme, each farmer receives up to ₹ 6,000 per year as minimum income support and the scheme is totally funded by the central government.
Launched in December, 2018, the Pradhan Mantri Kisan Samman Nidhi Yojna (PM-KISAN) scheme has provided a direct cash benefit of over Rs. 75,000 Crore to more than 9.9 Crore farmers, as per the government.
The funds are being directly transferred into the Aadhaar authenticated beneficiaries’ bank account to prevent leakage and increase convenience for farmers.
The scheme has also been instrumental in supporting farmers during the Covid-19 pandemic, through the release of nearly Rs 22,000 Crore to aid the farmers during the lockdown period, the government said.