Sign In
Learn bits
Schemes & Policies
Mahesh

27/02/23 10:32 AM IST

PM Modi To Release 13th Instalment Of Rs 16,800 Crore Under PM-KISAN

In News
  • Prime Minister Narendra Modi will release the 13th instalment of financial benefits worth Rs 16,800 crore to over eight crore eligible farmers under the flagship PM-KISAN scheme.
About PM-KISAN scheme
  • Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), eligible farmers are provided with a financial benefit of Rs 6,000 per year in three equal instalments of Rs 2,000 each every four months.
  • The fund is directly transferred to the bank accounts of the beneficiaries.
  • The scheme was launched in February 2019 but is being implemented with effect from December 2018.
  • It is a Central Sector Scheme that receives 100% of its financing from the central government.
Significance
  • This initiative has spurred rural economic growth, eased credit constraints for farmers and boosted agricultural investments.
  • It has also increased farmers' risk-taking capacity, leading to more productive investments.
  • According to the International Food Research Institute (IFRI), the PM-KISAN funds are helping recipients meet their agricultural needs and other expenses like education, medical care and marriage.
  • Till now, over Rs 2.25 lakh crore of funds have been disbursed under the scheme to more than 11 crore farmer families, primarily small and marginal farmers.
Source- The Hindu

More Related Current Affairs View All

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

05 Mar

Arresting women at night

'The Madurai Bench of the Madras High Court in Deepa versus S. Vijayalakshmi and Others ruled that the legal provision in the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, which

Read More

05 Mar

Digital Personal Data Protection Act, 2023

'The Ministry of Electronics and Information Technology (MeitY) looking to wrap up public consultations on the draft Rules for the Digital Personal Data Protection Act, 2023 by Mar

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps