8th Installment of PM Kisan Samman Nidhi Released
Recently the Ministry of Agriculture and Farmers Welfare, Government of India has announced the release of the eighth installment of PM Kisan Samman Nidhi.
PM Kisan Samman Nidhi
- The Prime Minister Kisan Samman Nidhi (PM-KISAN) scheme was unveiled by the Government of India in the budget 2019-20 to provide support to small and marginal farmers.
What is this Scheme?
- Under this scheme, direct payment will be made at the rate of Rs 6,000 per year to farmers holding agricultural land up to two hectares.
- This amount will be directly deposited in the bank accounts of the beneficiary farmers in three equal installments as per Rs. 2000.
- The first installment of Rs 2,000 is given between April and June. The second installment is given between August and November and the third installment is given between December and March.
Benefits
- This scheme will benefit about 12 crore small and marginal farmer families. All these families are the families with the highest poverty status. With the supplementary income received from the scheme, they will be able to purchase the necessary materials for Kharif and Rabi farming. In this way, the path to live well will be opened in front of them.
- So far, the Government of India has provided 75,000 crore rupees under this scheme. It aims to cover a total of 125 million farmers.
Source – PIB
