PM Kisan Update: Government Transferred Rs. 2.24 lakh crore to Over 11 crore Farmers

PM Kisan Update: Rs. 2.24 lakh crore has been transferred directly into the accounts of 11.5 crore farmers across India under PM Kisan Yojana, the government informed Parliament on Friday.

Agriculture Minister Narendra Singh Tomar in a written reply to a question in Rajya Sabha said that the Centre has spent more than Rs. 2.24 lakh crore to beneficiaries of PM Kisan Samman Nidhi Yojana. He added that of this amount, over Rs. 1.7 lakh crore have been transferred during the Covid induced lockdown. This has greatly helped the farmers of the country to manage their daily expenses during the pandemic.

Tomar said the funds given under the PM Kisan has acted as a catalyst in rural economic growth, helped in alleviating the credit constraints for growers and boosted investments in agricultural inputs. The minister said the scheme has improved farmers’ risk-taking capacity, helping them to undertake riskier but relatively productive investments.

Pradhan Mantri Kisan Samman Nidhi, popularly known as PM-KISAN is one of the biggest Central Sector Schemes, launched to provide financial assistance to the farmers subject to certain exclusion criteria linked to higher economic status.

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, the States or UTs recognize and verify the eligible farmers before uploading the data on official website. The benefits of the scheme are transferred to the farmers through Direct Benefit Transfer (DBT) mode after validation of data uploaded by States or UTs on PM Kisan website.

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

PM Kisan Samman Nidhi 13^th Installment Date

As per sources, the 13^th installment of PM Kisan could be released before or on February 24, 2023, on the occasion of successful completion of four years of the scheme.