PM Modi to disburse 13th instalment of Rs 16,800cr under PM-KISAN
Prime Minister Narendra Modi will disburse the 13th installment of the income support programme PM-Kisan, totaling more than Rs 16,800 crore to more than eight crore beneficiary farmers in Belagavi, Karnataka.
PM Modi to disburse 13th instalment of Rs 16,800cr under PM-KISAN: Key Points
- The programme distributes Rs 6,000 annually in three equal installments of Rs 2,000 into each eligible landholder farmer’s bank account.
- When PM-Kisan was introduced in February 2019, more than Rs 2.2 lakh crore had been distributed to over 11 crore landholder farmer families across the nation.
- In May and October of last year, the 11th and 12th installments of the current financial year’s funding were made available.
- “Farmers all around the country have already benefited significantly from the PM-Kisan plan, and this next instalment will further increase their incomes and contribute to the expansion of the agriculture industry.”
- All landholding farmer families in the nation are eligible under the programme, with some restrictions.
- More than three million women beneficiaries of the scheme have received more than Rs 53,600 crore in funding during the last four years.
Progression of PM-KISAN
According to the ministry, the PM-Kisan funds have increased agricultural investments, loosened credit restrictions for farmers, and stimulated rural economic growth.
The ability of farmers to take risks has also increased, resulting in investments that are more fruitful. According to IFPRI, PM-Kisan payments assist users in paying for other expenses including education, marriage and healthcare as well as their agricultural needs.