Rs 18k crore given to 9 crore farmers under PM-Kisan

By: |
December 26, 2020 6:45 AM

Once the transfers of the third PM-Kisan instalment of Rs 2,000 each to all 10.6 crore eligible farmer families are done, total disbursement under the scheme in the current fiscal will likely reach Rs 60,000 crore.

After adjusting for some expenditure towards pending dues to some eligible farmers, the total expenditure under the scheme in the current year will likely be around Rs 60,000 crore, a source said.After adjusting for some expenditure towards pending dues to some eligible farmers, the total expenditure under the scheme in the current year will likely be around Rs 60,000 crore, a source said.

Prime Minister Narendra Modi on Friday released Rs 18,000 crore to more than nine crore farmer families under the ‘Pradhan Mantri Kisan Samman Nidhi’ (PM-Kisan) scheme, even as a section of the farmer community is protesting at the national capital border against three new laws governing agriculture production and marketing.

Once the transfers of the third PM-Kisan instalment of Rs 2,000 each to all 10.6 crore eligible farmer families are done, total disbursement under the scheme in the current fiscal will likely reach Rs 60,000 crore. That would mean savings of about Rs 15,000 crore for the government against the current year’s budget outlay for PM-Kisan. The scheme, launched in December 2018 to give income support to farmers, cost the exchequer about Rs 1,241 crore in FY19 and Rs 54,370 crore (RE) in FY20.

While the funds have been transferred to the bank accounts of over nine crore farmers on Friday, since the number of verified beneficiaries (out of 11.44 crore registered farmers) are 10.6 crore, another at least 1.6 crore beneficiaries will get Rs 2,000 each totalling Rs 3,200 crore in December-March period.

After adjusting for some expenditure towards pending dues to some eligible farmers, the total expenditure under the scheme in the current year will likely be around Rs 60,000 crore, a source said. Many states, including West Bengal, have not completed the verification process of eligible farmers, so the benefits are not reaching them.

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