Daily Current Affairs Article 24th December 2020: Centre will release the next instalment of financial benefit under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). With the push of a button, the Prime Minister will enable the transfer of more than Rs. 18 thousand crore to more than 9 crores beneficiary farmer families.
Pradhan Mantri Kisan Samman Nidhi Yojana is implemented as a central sector scheme by the Government of India.
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This scheme was introduced to augment the source of income of many small and marginal farmers. The main objectives of the PM-KISAN scheme is to provide income support to all eligible land-holding farmers and their families.
PM-KISAN scheme also aims to supplement the financial needs of the farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income.
The scheme is expected to increase the coverage of PM-KISAN to around 14.5 crore beneficiaries. It aims to cover around 2 crores more farmers with an estimated expenditure of Rs. 87,217.50 crores that will be funded by the Central Government for the year 2019-20.
Under the PM-KISAN Scheme, a financial benefit Rs. 6,000 per year is provided to small and marginal farmers, payable in three equal 4-monthly installments of Rs. 2,000 each.
The fund is transferred directly to the bank accounts of the beneficiaries.
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