Prime Minister Narendra Modi has digitally circulated Rs 17,100 crores of over 8.5 crore farmers’ accounts through the financial entity as part of the PM-KISAN Scheme, which intends to give them additional help of over 6,000 crore annually.
The amount was part of the sixth portion of the system introduced in 2018. The officials believe that they have given more than 10 lakh farmers with a direct profit over Rs. 90,000 crore under their scheme.
“Rs 17,000 crores of PM-Kisan Samman Nidhi have been deposited into bank accounts of 8.5 crore farmers with a single click. No middlemen or commission, it went straight to farmers. I am satisfied because the objective of the scheme is being fulfilled,” PM Modi stated through the launch of a financing facility for farmers.
In a video conference in which crores of farmers, cooperatives and people from the whole of the country participated, the Agriculture Fund — with capital of Rs 1 lakh crore — was announced by the Prime Minister. The Organization seeks to stimulate the growth of post-harvest facilities and community farming similar to colder processing, selling centers, distribution patterns etc. These assets would allow the farmers to raise their demand for their goods, as they can sell and promote at low prices, reduce waste and boost production and added value, according to the legislative branch.
Over 2,280 farmers under the Agriculture Infrastructure Fund have secured the first approval of over Rs 1000 crore at present, according to the Prime Minister’s Office in a press release.
Under the scheme PM-KISAN per farmer earns a minimum income assistance of €6,000 per 12 months and is completely funded by central governments.
The funds would automatically be moved to the checking account of the authenticated Aadhaar beneficiaries to avoid misuse and to make farmers more confident.
The scheme was also important in helping farmers with the Covid-19 pandemic via the discharge of nearly Rs 22,000 Crore, the federal administration announced.
Between December 2018 and November 2019, over 9 crore farmers signed up under the program. The key installment was earned by 7.62 lakh, or 84 percent of farmers.
The cash earned in this second installment was only provided to approximately 6.5 crore farmers and, according to the details gathered in the response of an RTI request, 3.85 crore beneficiaries were provided the sum below the third installment.
The recipient’s awareness is then checked by banks and the recipient is then then released, it states, adding that the website www.pmkisan.gov.in can be accessed for additional data on the organizational tips. The recipients would have to be aware of this material.