Ajit Karn
New Delhi: On Monday, ahead of Holi and rabi harvesting, Prime Minister Narendra Modi will release the thirteenth installment of financial benefits worth 16,800 crore to over eight crore eligible farmers under the cornerstone PM-KISAN scheme.
Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), eligible cultivators receive 6,000 in three equal installments of 2,000 every four months. The funds are transmitted directly to the bank accounts of the recipients.
The programme was introduced in February 2019, but implementation began in December 2018.
The Prime Minister will release the thirteenth tranche at an occasion in Belagavi, Karnataka, according to an official statement released on Sunday.
More than one million participants, including PM-KISAN and Jal Jeevan Mission beneficiaries, are anticipated to attend the event. Minister of Agriculture Narendra Singh Tomar and Secretary of Agriculture Manoj Ahuja will also be present.
The eleventh and twelfth PM-KISAN installments were published in May and October of 2022, respectively.
The PM-KISAN initiative has already provided substantial benefits to farmers across the nation, and this latest installment will further increase their revenues and contribute to the expansion of the agriculture sector, according to the statement.
To date, more than 2.25 trillion rupees have been disbursed under the scheme to over 11 billion farmer families, predominantly small and marginal farmers.
Notably, during the Covid-19 closure, 1,750,000,000,000 rupees were distributed in multiple instalments to assist these destitute farmers. Additionally, over three crore women have received over 53,600 crores as a result of this scheme.
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This initiative has stimulated rural economic development, loosened credit restrictions for farmers, and increased agricultural investments. It has also enhanced the risk-taking capacity of producers, resulting in more productive investments.
According to the International Food Research Institute (IFRI), PM-KISAN funds assist recipients in meeting their agricultural requirements as well as other expenses, such as education, medical care, and marriage.
