PM Modi to release third instalment of Kisan Samman Nidhi

PM Modi is to release the fourth instalment of Pradhan Mantri Kisan Yojana in Tumakuru, Karnataka. The Prime Minister will also confer “Krishi Karmanya” award to three fishermen and 28 progressive farmers from various states.

Pradhan Mantri Kisan Samman Yojana

The scheme was first introduced in Telangana as “Rythu Bandhu” scheme. Under the scheme, a certain amount is given to eligible farmers. Eventually, the scheme was accoladed for its huge success all over the world including World Bank.

Upon the success of Rythu Bandhu scheme, central government launched Pradhan Mantri Kisan Samman Yojana all over the country in 2018. Under the scheme, Rs 6,000 will be provided to farmers annually. The amount is directly credited to bank accounts of eligible farmers in four instalments.

Installments

Since the launch of the scheme, three installments were released. The fourth installment of the scheme is to be released by the Prime Minister. The scheme is being implemented by the Ministry of Agriculture and Farmers Welfare. In 2019 budget, annual expenditure of Rs 75,000 crores was allocated to the scheme.

Objectives

The scheme was launched to improve the income of small and marginal farmers. It will help farmers to fulfil their crop health and yields. It also helps farmers from falling under the hands of moneylenders in meeting their basic expenses.

Month: Current Affairs - January, 2020