Write Comment     |     E-Mail To a Friend     |     Facebook     |     Twitter     |     Print

PM Modi Sends Rs 17,100 Crore Into Bank Accounts Of Over 8 Crore Farmers

Over 9 crore farmers have registered themselves under the scheme between December 2018 and November 2019, as per the government. Of these, 7.62 crore or 84 per cent of farmers have received the first installment.

New Delhi: Prime Minister Narendra Modi today electronically transferred ₹ 17,100 crores to the bank accounts of over 8.5 crore farmers as part of the PM-KISAN scheme, aimed at providing direct support of ₹ 6,000 annually to them.

The amount was part of the sixth installment of the scheme launched in 2018. The government claims to have provided a direct cash benefit of over ₹ 75,000 Crore to more than 9.9 Crore farmers as part of the scheme.

"Rs 17,000 crores of PM-Kisan Samman Nidhi have been deposited into bank accounts of 8.5 crore farmers with a single click. No middlemen or commission, it went straight to farmers. I am satisfied because the objective of the scheme is being fulfilled," PM Modi said during the launch of a financing facility for farmers.

The Agriculture Infrastructure Fund -- with a capital of Rs 1 lakh crore -- was launched by the Prime Minister through a video conference which was attended by lakhs of farmers, cooperatives, and citizens across the country. The Fund aims to catalyze the creation of post-harvest management infrastructure and community farming assets such as cold storage, collection centres, processing units, etc. These assets will enable farmers to get greater value for their produce, as they will be able to store and sell at higher prices, reduce wastage, and increase processing and value addition, the government said.

Under the PM-KISAN scheme, each farmer receives up to ₹ 6,000 per year as minimum income support and the scheme is totally funded by the central government.

The funds are being directly transferred into the Aadhaar authenticated beneficiaries’ bank account to prevent leakage and increase convenience for farmers.