PM Kisan Yojana: Modi Government to Release Rs 22,000 Crore as 3rd Installment in December

The Modi government is all set to release Rs 22,000 crore to the account of the farmers as part of Pradhan Mantri Kisan Samman Nidhi. The money to be released shortly is the 3^rd installment of December to March quarter of FY22. So far, the Centre has provided a sum amounting to around Rs 1.57 lakh crore to the families of farmers under this scheme. 

As per reports, the 10^th installment of Pradhan Mantri Samman Nidhi Yojana will be released between 15^th to 25^th December, by the government under the scheme. On 23^rd November (Tuesday) some sources from the government conveyed that the Centre has so far spent Rs 43,000 crore for PM Kisan Scheme in the financial year 2022 to help out the farmer families.

With the release of the 3^rd installment for the December to March quarter, Rs 65, 000 crore to Rs 1, 000 crores may be additionally needed for PM Kisan in FY22 as more & more famers are registering for the scheme.

The government expects to add 15 lakh more famers under this scheme in West Bengal. The tally will then be up to 50 lakh farmers, up from the current 35 lakh in the state. The government has added 11 crore beneficiaries this year to PM Kisan's scheme so far.

According to reports, the Centre is not looking to bring in any change in the current rule regarding PM Kisan Scheme.

About PM Kisan Yojana

An annual financial benefit of Rs 6,000 is provided to the eligible beneficiary families of farmers, payable in three equal, fourth- monthly installments of Rs 2,000 each, under the PM Kisan scheme.

The scheme was announced in February 2019 in the budget. The first installment of the scheme was for December 2018 to March 2019 period. The fund is transferred directly to the bank accounts of the beneficiaries.

In August, during this year, Prime Minister Narendra Modi had virtually transferred Rs 19, 500 crores to over 9.75 crore beneficiaries farmers under the PM Kisan Scheme. While addressing the nation in virtual events in the presence of Prime Minister, Agriculture Minister Narendra Singh Tomar said that before the 9^th installment, the central government has disbursed Rs 1.37 lakh crore to around 11 crore beneficiaries under this scheme.

Govt Linked PM Kisan Beneficiaries with Kisan Credit Card Scheme

The government has linked 2.28 crore PM Kisan beneficiaries with the Kisan Credit Card Scheme, under which they have been able to avail the loan up to Rs 2.37 lakh so far.

He had also said that the farmers have worked hard despite the challenges of Covid-19 & ensured the bumper production last year. Better output is also expected in the coming days due to continued farmers’ efforts, said Narendra Singh Tomar. 

The Kisan Credit Card Scheme & PM Kisan scheme is some of the many benefits that the farmers receive from the government. The central scheme is to provide pensions for the famers include Pradhan Mantri Kisan Samman Nidhi, PM Kisan Maandhan Yojana, PM Kisan Credit Card, & PM Kisan ID Cards.