PM Modi Sanctions 17th PM-KISAN Instalment, Aiding 9.3 Crore Farmers

June 11, 2024

After being re-elected for a third term, Prime Minister Narendra Modi’s first act was to approve the 17th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) plan. By giving out about Rs 20,000 crore, this new payment is expected to help about 9.3 crore farmers.

What is the PM-KISAN Scheme?

The PM-KISAN scheme, which started in February 2019 and went into force in December 2018, is meant to help all eligible farmers’ families across India by giving them money. Each qualified farmer gets ₹6,000 a year from the program. This money is given to people in need in three equal payments of ₹2,000 every four months. It is sent straight to their bank accounts.

Impact of the Scheme

The main purpose of the PM-Kisan plan is to help farmers get the money they need to buy farming supplies and take care of their own needs. The plan aims to improve the lives and potential productivity of farmers all over India by giving them direct income support.

Government’s Commitment and Budget Allocation

Prime Minister Modi said, “Ours is a Government fully committed to Kisan Kalyan.” He said this to show that the government is still concerned about the well-being of farmers. The government has given the Ministry of Agriculture Rs 1.27 lakh crore for the fiscal year 2024-25. This is more than the current fiscal’s budget. The full budget information should be made public in July 2024. This program is a big part of how the Indian government handles agriculture. Its goal is to improve the living standards of millions of farmers and give them the tools they need to keep farming in a way that doesn’t harm the environment.

More About PM Kisan Nidhi scheme

Scheme Overview and Objectives: Launched by the Indian government in 2019, the PM Kisan Nidhi plan is meant to help small and marginal farmers by giving them money. Qualified farmers will get Rs 6,000 a year in three equal payments. The program was first made for small and marginal farmers, but in 2023, it now covers all landholding farmer families, no matter how big their land is.
Implementation and Registration: To receive installments, compulsory Aadhaar linkage is required for all beneficiaries, ensuring accurate identification and preventing fraud. The program’s registration process is fully online, accessible through the official PM-KISAN portal, simplifying enrollment and tracking. Funds are transferred directly to beneficiaries’ bank accounts via DBT, effectively preventing leakage and ensuring timely disbursement.
Expansion and Impact: By 2023, the scheme’s reach and effect had grown a lot more since it was made available to all farmer families. The direct cash help is meant to help farmers make a living and keep their income stable. This growth shows that the government wants to help more people get jobs and support the farming industry, so more farmers will be able to use the plan.

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