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

By: |
February 24, 2019 10:09 AM

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.

Narendra Modi, Lok Sabha elections, Kumbh of democracy, kumbh mela, Sushma Swaraj, lok sabha elections 2019Following 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.

Also read: Mann Ki Baat LIVE updates: PM Narendra Modi says today’s radio address is ‘special’

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.

Do you know What is Positive GDP growth seen in Q3, need to fight inflation: RB, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Economic activity tentatively returning to pre-COVID levels: Icra
2FinMin releases weekly instalment of Rs 6,000 cr to states to meet GST compensation shortfall
3GST officers arrest one for operating 46 fake firms, passing on ITC worth Rs 82.23 cr