PM Kisan Latest Update: Over 11 crore Farmers Received Rs. 2.24 lakh crore

PM Kisan Update: The government informed Parliament that over Rs. 2.24 lakh crore has been transferred directly into the accounts of 11.5 crore farmers across the country under Pradhan Mantri Kisan Samman Nidhi Yojana.

Narendra Singh Tomar, Union Agriculture Minister in a written reply to a question in Rajya Sabha said that the Government has disbursed more than Rs. 2.24 lakh crore to beneficiaries of PM Kisan Samman Nidhi Yojana. He said that of the total amount, around Rs. 1.7 lakh crore have been transferred during the pandemic induced lockdown, which has greatly helped them in managing their daily as well as farm expenses.

The minister said the funds given under the scheme helped in the overall growth of agriculture sector – by reducing the credit constraints for farmers and by boosting investments in agricultural inputs. Tomar added that PM Kisan scheme has improved the farmer’s life and motivated them to undertake riskier but relatively productive investments.

A study conducted by International Food and Policy Research Institute claims that the amount received by farmers under PM Kisan not only helps them with their agricultural needs, but also fulfil their expenses like health, education, marriage, etc. It said that these are the indicators of the positive impact of the scheme on the farmers of the country.

Government of India launched Pradhan Mantri Kisan Samman Nidhi, popularly known as PM Kisan with the motive to provide financial assistance to the farmers of the country.

Under the scheme, Rs. 6000 per year is provided to eligible farmers in three equal installments of Rs. 2000 each. The amount is transferred into the bank accounts of farmers.

According to the Operational Guidelines of PM Kisan scheme, the States / Union Territories recognize and verify the eligible farmers before uploading the information on official website. The benefits of the scheme are transferred to farmers through Direct Benefit Transfer (DBT) method after validation of data uploaded by States / UTs on the website.

PM Kisan 13th Installment to be Released Before February 24

As per media reports, the 13th installment of PM Kisan might be released before or on February 24, 2023 - on the occasion of successful completion of four years of the scheme.