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Published: Feb 27, 2023
Updated: Feb 27, 2023

PM Modi to Release 13th Instalment of Rs 16,800 Crore Under PM-KISAN Scheme

Prime Minister Narendra Modi is set to release the 13th instalment of financial benefits worth Rs 16,800 crore to over eight crore eligible farmers under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme. The release of funds is scheduled for Monday, just ahead of Holi and rabi harvesting.

Implemented from December 2018, the PM-KISAN scheme aims to provide eligible farmers with an annual financial benefit of Rs 6,000 in three equal instalments of Rs 2,000 each every four months. The funds are directly transferred to the bank accounts of the beneficiaries.

13th instalment of PM Kisan Scheme to be released

The Prime Minister will be releasing the 13th instalment at an event in Belagavi, Karnataka, where more than one lakh attendees, comprising of PM-KISAN and Jal Jeevan Mission beneficiaries, are expected to take part. Union Agriculture Minister Narendra Singh Tomar and Agriculture Secretary Manoj Ahuja will also be present at the event.

The scheme has already provided significant benefits to farmers across the country, with over Rs 2.25 lakh crore of funds disbursed to more than 11 crore farmer families, primarily small and marginal farmers. The 11th and 12th instalments were released in May and October 2022, respectively.

Notably, during the Covid-19 lockdown, the scheme distributed Rs 1.75 lakh crore in multiple instalments to support needy farmers. It has also benefited over three crore women beneficiaries who have collectively received over Rs 53,600 crores in funds.

The PM-KISAN scheme has spurred rural economic growth, eased credit constraints for farmers and boosted agricultural investments. It has also increased farmers' risk-taking capacity, leading to more productive investments.

Scheme boon for farmers

According to the International Food Research Institute (IFRI), the funds from the PM-KISAN scheme are helping recipients meet their agricultural needs and other expenses like education, medical care, and marriage.

The release of the 13th instalment under the PM-KISAN scheme is expected to further boost the incomes of farmers and contribute to the growth of the agriculture sector in the country. The scheme has proven to be a lifeline for many small and marginal farmers, providing them with the necessary financial support to meet their needs and invest in their farms.