Prime Minister transfers Rs. 16,800 crore towards PM Kisan Samman Nidhi

Source: The post is based on the article “Prime Minister transfers Rs. 16,800 crore towards PM Kisan Samman Nidhi” published in PIB on 28th February 2023

What is the News?

The Prime Minister has transferred the 13th installment of about Rs 16,800 crore under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme through Direct Benefit Transfer (DBT) to the bank accounts of more than 8 crore beneficiary farmers across the country.

What is the Pradhan Mantri Kisan Samman Nidhi(PM-KISAN) Scheme?

Launched in: 2019

Nodal Ministry: Ministry of Agriculture & Farmers Welfare

Aim: To supplement the financial needs of land holding farmers.

Features: Under the scheme financial assistance of Rs.6000 per annum is provided to all landholding farmer families across the country subject to certain exclusion criteria relating to higher income strata.

– The amount is transferred in three four-monthly installments of Rs. 2000 each, directly into the bank accounts of the beneficiary farmers.

– State Government and UT administration are responsible for identifying the farmer families which are eligible for support as per scheme.

Eligibility: The scheme was initially meant for small and marginal farmers having land holding upto two hectares but scope of the scheme has now been extended to cover all landholding farmers.

Self-registration Mechanism: Process of Self-registration of beneficiaries has been made simple and easy through mobile app, PM KISAN portal and walk-ins via Common Service Centers in order to give the maximum benefit to the farmers.

Physical Verification Module: In order to maintain the authenticity and validity of the scheme, a mandatory physical verification of 5% beneficiary every year is being done as per the provisions laid down in the scheme.