PM Kisan Nidhi Scheme | PM Modi to release 20,000 crore under PM Kisan in Varanasi: What is the scheme

PM Kisan Nidhi Scheme: PM Kisan scheme was launched in 2019 with the aim to cater to the financial needs of all land-holding farmers.

Prime Minister Narendra Modi will release the 17th installment of the PM-KISAN scheme in Varanasi today. Under the scheme, more than 9.26 crore farmers will receive benefits amounting to over ₹20,000 crore. PM Modi will also distribute the certificates to more than 30,000 self-help groups trained as Krishi Sakhis. This comes as the Prime Minister authorized the release of the 17th installment of the PM Kisan Nidhi after assuming office for the third term.

Prime Minister authorized the release of the 17th installment of the PM Kisan Nidhi after assuming office for the third term. (PTI)

What is PM Kisan scheme?

The scheme was launched in 2019 with the aim to cater to the financial needs of all land-holding farmers. Benefits of ₹6,000 per year in three equal installments, every four months, are transferred into the bank accounts of farmers' families across the country through Direct Benefit Transfer (DBT) mode. The scheme has disbursed ₹3.04 lakh crores till now to more than 11 crore farmers across the nation.

Union Agriculture Minister Shivraj Singh Chouhan said, “This financial assistance will support farmers in meeting their agricultural and other incidental needs. A farmer-centric digital infrastructure has ensured the benefits of the scheme reach all the farmers across the country without any involvement of middlemen."

He added, "Maintaining absolute transparency in registering and verifying beneficiaries, the Government of India has disbursed over ₹3.04 lakh crore to more than 11 crore farmers across the nation. With this release, the total amount transferred to the beneficiaries since the inception of the scheme will cross well over ₹3.24 lakh crore.”