Assuming office for his third term as Prime Minister, Narendra Modi on Monday authorised the release of the 17th instalment of the ‘PM Kisan Nidhi’ funds, amounting to nearly Rs 20,000 crore, benefiting as many as 9.3 crore farmers.

Upon signing the release of the funds, Modi said, “Ours is a government fully committed to ‘kisan kalyan’ (farmers’ welfare). It is, therefore, fitting that the first file signed on taking charge is related to it. We want to keep working even more for farmers and the agriculture sector in the times to come.”

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This decision underscores the government’s dedication to farmers’ welfare following the National Democratic Alliance’s electoral victory, despite some setbacks, particularly in rural regions of India.

On Sunday, Modi took the oath as prime minister for a record-tying third term, leading a 72-member Union Council of Ministers. This cabinet, including Modi, is larger than the previous two. Contrary to speculation, he had little difficulty assembling the council despite heading a coalition government.

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Notably, the TDP and JD (U) did not bargain, which was widely expected after the BJP fell short of an absolute majority.The special guests who were present at the event included leaders from India’s neighbourhood and the Indian Ocean region, such as Maldives President Mohamed Muizzu, Bangladesh Premier Sheikh Hasina, Nepal Prime Minister Pushpa Kamal Dahal ‘Prachanda’, Sri Lankan President Ranil Wickremesinghe, Mauritius Prime Minister Pravind Kumar Jugnauth, Bhutanese Prime Minister Tshering Tobgay, and Seychelles Vice-President Ahmed Afif.

In addition to political leaders and prominent figures from various fields, members of the transgender community, as well as sanitation workers and labourers involved in constructing the new parliament building, attended the swearing-in ceremony of Modi and the new council of ministers.

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What is Pradhan Mantri Kisan Samman Nidhi scheme ?

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is a government program that gives money to farmers to help them with farming and household expenses.Started in February 2019, the program gives Rs 6,000 per year to eligible farmers. This money is sent directly to their bank accounts in three equal parts of Rs 2,000 each.

To get the money, farmers need to have their Aadhaar-linked bank accounts. The state or union territory government is responsible for making sure the right farmers get the money and that their information is correct on the PM-KISAN website.

So far, more than Rs 2.42 lakh crore has been given to over 11 crore farmer families through different payments. The program is only for farmers who own land. Currently, details for over 9.53 crore farmers are in the PM-KISAN system.