PM Kisan Big Update: Rs 375 crore Pending For Reprocessing Under the Scheme Since 2019

According to the agriculture ministry data placed before Parliament, around Rs 374.78 crore is pending for reprocessing after failed transactions occurred under the PM-KISAN scheme since its launch in 2019.

Under Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN), in which the eligible marginal farmers have electronically given Rs 6000 annually in 3 equal installments, witnessed a 14.22 lakh pending failed transaction during the year 2019-20.

Number of Failed Pending Transaction Reduced to 18.19 lakh in 2020-21 Fiscal

Consequently, the number of pending failed transactions was reduced to 18.19 lakh during the year 2020 to 2021 fiscal. But, in the ongoing 2021 to 2022 fiscal, the number of pending failed transactions stood at 9.11 lakh till November 30, as shown in the data.

As per data, the amount which was pending for reprocessing due to the failed transactions was Rs 182.78 crore during the year 2019 to 2020 fiscal, Rs 163.99 crore in 2020 to 2021 fiscal & Rs 28.47 crore till November of 2021 to 2022 fiscal.

The total pending amount for reprocessing from 2019 to 2020 till November 20 of this year under the PM- KISAN Scheme stands at Rs 374.78 crore, as shown in the data. In a written reply to Upper House, the agriculture minister said that the failed transactions remained less than 1% so far, since the launch of the PM-KISAN Scheme.  

“Under PM-KISAN scheme, the total number of the transactions that have taken place is 80,27,44,674 of which the number of failed transactions is less than 1%” he noted. The cumulative number of failed transactions of PM-KISAN were at 69,02,227 from February 1, 2019, till November 30 of this year. Out of which, 32,02,408 transactions were successfully reprocessed, said Tomar.

Different Reasons Identified For Failed Transactions under the Scheme  

According to the minister, various reasons have been identified by the Centre for transaction’s failure under PM-KISAN scheme, such as account closed or transferred, account inactive, account dormant, invalid IFSC code, an amount exceeding the limit set by account by the bank for credit/debit per transactions, among the others.

To tackle issues of transaction failures & re-process the payment of such registered farmers’ families, Tomar said that a standard operating procedure has been developed & issued to all the states for necessary action at their end. The minister said that the responsibility to identify beneficiaries & upload their correct and verified data on the PM-KISAN portal lies with the respective state government.

The received data on the PM-KISAN web portal goes through various levels of verification & validation, including Aadhar & income tax databases. Subsequently, the financial benefits are passed onto eligible beneficiaries. Under the PM-KISAN scheme, more than 11.60 crore farmers have been given financial benefits of approximately Rs 1.60 lakh crore through various installments since the launch of the scheme.