PM Modi Releases 18th Installment of PM Kisan Scheme: ₹20,000 Crore Deposited in Farmers' Accounts

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In a significant move to support the agricultural sector, Prime Minister Narendra Modi has announced the release of the 18th installment of the PM Kisan Samman Nidhi scheme, transferring ₹20,000 crore directly into the accounts of farmers across the nation. The PM Kisan Yojana, initiated in 2019, aims to provide financial assistance to small and marginal farmers, ensuring they receive a steady income to support their agricultural activities. Under this scheme, eligible farmers receive ₹6,000 annually, distributed in three equal installments. With the recent release of the PM Kisan 18th installment, it is evident that the government remains committed to bolstering the agricultural economy and enhancing farmers’ livelihoods.

The direct transfer of funds not only helps farmers meet their immediate financial needs but also encourages them to invest in better farming practices and technology. This timely support plays a crucial role, especially during challenging seasons, ensuring that farmers can maintain their productivity without falling into debt. Moreover, the PM Kisan Samman Nidhi Yojana includes a mandatory e-KYC process (PM Kisan E-KYC) to verify beneficiaries, preventing fraud and ensuring that assistance reaches the intended recipients. This transparency builds trust in the system and helps the government identify genuine beneficiaries effectively.

FAQs

  1. What is the PM Kisan Yojana?
    The PM Kisan Yojana is a government initiative that provides financial aid of ₹6,000 per year to small and marginal farmers in three installments.
  2. When was the 18th installment of PM Kisan released?
    The 18th installment was recently released by Prime Minister Modi, amounting to ₹20,000 crore.
  3. Why is PM Kisan E-KYC mandatory?
    E-KYC is mandatory to verify the identity of beneficiaries, ensuring that the funds reach the rightful farmers and preventing misuse.
  4. Who can benefit from the PM Kisan Samman Nidhi?
    Small and marginal farmers meeting government eligibility criteria can avail the benefits of this scheme.
  5. When are the installments of the PM Kisan Samman Nidhi released?
    The installments are released three times a year.

Author –Yogesh Agarwal 

Published At - October 13, 2024 8:45 am