Indian Prime Minister Narendra Modi will be publishing the 10th installment of financial benefits under the scheme called Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) today. The program will be held at 12.30 pm through video conferencing. As per the official statement from the PM’s Office, the amount of more than Rs. 20,000 crore will be transferred to over 10 crore beneficiary farmer families.
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The statement also said that the initiative is as per the objective of the government for continued commitment and resolution to encourage the grassroots-level farmers. It can be noted that the scheme helps eligible farmers to get a financial benefit of Rs. 6,000 per year, which can be paid in 3 equal four-monthly installments of Rs. 2,000/- The fund will be transferred directly to the bank accounts of the beneficiaries.
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Under this scheme, more than Rs. 1.6 lakh crore has been transferred so far to farmer families. The scheme is also not eligible for farmland owners who are either current or retired government employees, serving or ex-MPs, and MLAs or ministers, as per a report. Also, those who use their farmlands for some work other than farming are not eligible to get the benefits under the scheme. Also, people working on the farmlands of the other persons are not eligible for the scheme.
The event will also witness Modi’s announcement on an equity grant of above Rs. 14 crores to about 351 Farmer Producer Organizations (FPOs), which is supposed to benefit above 1.24 lakh farmers, as per a report. The Prime Minister will also share his address to the nation in the event, says a report. In August last year, Modi had released the ninth installment of the PM-KISAN scheme wherein he transferred Rs. 19,500 crore to more than 9.75 crore farmers in a virtual manner.
