BONANZA TO FARMERS: PM Modi transfers Rs 17,000crore to bank accounts of farmers under PM-KISAN

NEWS PM KISAN

NEW DELHI: Prime Minister Narendra Modi on Sunday brought cheer to the countryside by electronically  transferring a total sum of Rs 17,100crore to the bank accounts of over 8.5crore farmers. This was done under the PM-KISAN scheme that promises direct transfer of ₹ 6,000 to the bank accounts, in three installments, every year.

The scheme was introduced in late 2018 by PM Modi — a few months before the 2019 Lok Sabha polls — and he had transferred the first installment immediately thereafter. Five installments had already been paid to farmers so far, and this is the sixth installment. The scheme has been made more comprehensive over the past months. The government has so far provided a direct cash benefit of over Rs 90,000crore to more than 10crore farmers.

“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 at the launch of the Agriculture Infrastructure Fund.

The Fund has a capital of Rs 1 lakh crore. The function was witnessed by  — lakhs of farmers and others via televised scenes across the country. The first sanction of over Rs 1,000 crore was made to over 2,280 farmers under the Agriculture Infrastructure Fund today, the Prime Minister’s Office said.

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

The PMO said the second installment went to 6.5 crore farmers and the third installment to 3.85 crore farmers. IHN-NN

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