PM-KISAN scheme to be rolled out by Modi today; key things to know

Following the launch, PM Modi will also distribute certificates among select farmers under the PM-KISAN scheme.

Prime Minister Narendra Modi on Sunday will officially launch the Rs 75,000-crore Pradhan Mantri Kisan Nidhi (PM-KISAN) at Gorakhpur by transferring the first instalment of Rs 2,000 each to over one crore farmers.

“Tomorrow is a historic day! The Pradhan Mantri Kisan Samman Nidhi will be launched from Gorakhpur. This is a scheme that will give wings to the aspirations of crores of hardworking farmers of India who feed our nation,” the Prime Minister said in a tweet.

Following the launch, PM Modi will also distribute certificates among select farmers under the PM-KISAN scheme and interact with select beneficiaries through video conferencing at the event.

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Pradhan Mantri Kisan Samman Nidhi Yojana

The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) was announced in the interim Budget 2019-20 on February 1, 2019. Under the Scheme, Rs 6,000 will be given per year to small and marginal farmer families having combined land holding/ownership of upto 2 hectares.

The amount will be given in three installments of Rs.2000 each.

The amount will be transferred directly to the bank account of beneficiaries through Direct Benefit Transfer. DBT will ensure transparency in the entire process and will save time for the farmers. The Scheme was introduced to augment the income of the Small and Marginal Farmers (SMFs). It is estimated to benefit more than 12 crore small and marginal farmers.