This will enable the transfer of an amount of more than Rs. 19,500 crores to more than 9.75 crores beneficiary farmer families
Prime Minister Narendra Modi will release the next instalment of financial benefit under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on August 9, Monday, at 12:30 PM via video conferencing.
This will enable the transfer of an amount of more than Rs. 19,500 crores to more than 9.75 crores beneficiary farmer families. The Prime Minister will interact with farmer beneficiaries during the event and will also address the nation, according to a release from the Prime Minister's Office.
Under the PM-KISAN scheme, a financial benefit of Rs. 6,000 per year is provided to eligible beneficiary farmer families, payable in three equal four-monthly instalments of Rs. 2,000 each.
This fund is transferred directly to the bank accounts of the beneficiaries.
So far, Samman Rashi of over Rs. 1.38 lakh crores has been transferred to farmer families under this scheme, the statement added.
Union Agriculture Minister will also be present on the occasion.
PM-KISAN Scheme is a Central Sector Direct Benefit Transfer (DBT) Scheme. As per this scheme, financial assistance of Rs. 6,000 per annum is provided to all landholding farmer families across the country. However, this is subject to certain exclusion criteria relating to higher income strata.
PM-KISAN enables such farmers take care of expenses related to agriculture and allied activities as well as domestic needs. The amount is transferred in three equal instalments (Rs. 2,000 each) in every four-months.