Prime Minister Narendra Modi on Sunday officially launched the Rs 75,000-crore Pradhan Mantri Kisan Nidhi (PM-KISAN) at a farmer’s rally in Gorakhpur, Uttar Pradesh.
The scheme, which was announced in the Interim Budget on February 1, proposes to give farmers with land up to two hectares Rs 6,000 per year in their bank accounts in three equal instalments. Around 12 crore farmers are expected to benefit from the scheme. The scheme will cost the government Rs 75,000 crore in 2019-’20.
Prime Minister Narendra Modi digitally launches Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), a cash-transfer scheme, in Gorakhpur. UP CM Yogi Adityanath present pic.twitter.com/igE1A1PuMZ
— ANI UP (@ANINewsUP) February 24, 2019
Here are 5 things to know about Pradhan Mantri Kisan Samman Nidhi scheme:
1. The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) was announced in the interim Budget 2019-20 on February 1, 2019.
2. Under the Scheme, Rs. 6,000 will be given per year to small and marginal farmers having combined land holding or ownership of up to two hectares.
3. The amount will be given in three installments of Rs. 2,000 each and will be transferred directly to the bank account of beneficiaries through Direct Benefit Transfer.
4. PM-KISAN, which is entirely funded by the central government, will incur an annual expenditure of Rs. 75,000 crore, said Ministry of Agriculture in a press release on Saturday.
5. The existing land-ownership system in the states/UTs (Union territories) will be used for identification of beneficiaries. Those whose names appear in land records as on February 1, 2019 are eligible for benefit, further said the release.
(With Agency Inputs)
Click here for Latest News updates and viral videos on our AI-powered smart news genie