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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

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