Bulletin: Cabinet extends PM-KISAN to all farmers
The Union Cabinet chaired by Prime Minister Narendra Modi has comprehensively extended ambit of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) to all land holding eligible farmer families who will avail benefits under the scheme (but subject to existing exclusion factor).
The revised scheme is expected to cover around 2 crore more farmers and increase total coverage of PM-KISAN to around 14.5 crore beneficiaries. It also costs Central Government around Rs. 87,217.50 crores for year 2019-20.
Key Features of PM-KISAN
- It was announced in interim Budget for the year 2019-2020 and launched on 24th February 2019 in Gorakhpur, Uttar Pradesh where the first rounds of instalments was paid to several farmers.
- It provides beneficiary farmers income support of Rs. 6000. This amount is released in three four (quaterly)-monthly instalments of Rs.2000 each over the year. It is credited directly into the bank accounts of the beneficiaries held in destination banks through Direct Benefit Transfer mode.
- The previsions criteria for small and marginal landholder farmer families to avail this benefit was cultivable land holding upto 2 hectare across the country.
- So far, 1st instalment to 3.11 crore beneficiaries and 2nd instalment to 2.66 crore beneficiaries have been credited directly to the bank accounts of the farmer families.
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Month: Current Affairs - June, 2019