PM-KISAN scheme: Prime Minister Modi announces record-breaking transfer of funds to farmers

Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is a scheme launched by the Indian government in February 2019 to provide financial assistance to small and marginal farmers across the country. Under the scheme, farmers who meet the eligibility criteria receive a total of Rs. 6,000 annually, which is disbursed in three equal installments of Rs. 2,000 each, directly credited to their bank accounts. The scheme aims to support farmers’ income and help them meet their agricultural expenses.

Overview :

On February 27, 2023, Prime Minister Narendra Modi transferred the 13th installment of about Rs 16,800 crore under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme through Direct Benefit Transfer (DBT) to the bank accounts of over 80 million eligible farmers across India. This occasion marked the deposit of more than Rs. 2.5 lakh crores to small farmers, of which over Rs. 50,000 crores were deposited in the accounts of sisters and mothers. The budget for Agriculture increased from Rs. 25,000 crores in 2014 to over Rs. 1.25 lakh crore this year. The government has also launched the PM Pranam Yojana to provide additional help from the center to states that reduce the use of chemical fertilizers.

Union Agriculture Minister Shri Narendra Singh Tomar also spoke on the occasion and lauded the efforts of the Prime Minister in improving the lives of farmers, saying that no other country in the world has such a large programme to benefit farmers. He mentioned that the PM-KISAN scheme has helped in reducing the financial burden on farmers and has contributed to their overall welfare. He also stated that the government is committed to the development of the agriculture sector and will continue to take steps to support farmers in the future.

The prime minister and Union Agriculture Minister Narendra Singh Tomar highlighted the following key points:

• The PM Kisan Samman Nidhi scheme is innovative in the world, with a large number of direct deposits in the bank accounts of farmers.
• Adequate investment has been made to fill gaps and make agriculture remunerative, with the Agri Infrastructure Fund worth Rs 1 lakh crore and a sum of Rs. 50,000 crores has been launched for the Agriculture and Allied sectors.
• Investment has been made in promoting natural farming, millets, horticultural crops and developing technology in the agriculture sector.
• The PM Pranam Yojana has been launched to support states that reduce the use of chemical fertilizers.
• The budget for Agriculture has increased significantly, which is benefiting farmers across the country.

Conclusion :

The Prime Minister and the Union Agriculture Minister thanked the farmers for taking full advantage of the policies and noted that the income of farmers is increasing day by day. India’s agricultural sector has shown significant growth in recent years, with the country’s agricultural exports reaching a record high of Rs 4 lakh crore. The country is witnessing the results of the government’s efforts, with India becoming self-sufficient in food grains and ranking first or second in global agricultural production. Overall, the government is working towards making small farmers a priority and transforming agriculture in the country.

Note: The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. Pesticides are a considerable risk of loss in crops and viewers are advised to do their own research before making any decisions.