As per the reports, the 17th installment of the PM-Kisan scheme is expected to be disbursed in the last week of May. Prime Minister Narendra Modi distributed the 16th installment in February 2024.
The 16th instalment amount of more than Rs 21,000 crores under the PM-KISAN was released by PM Modi at the public program in Yavatmal, Maharashtra through direct benefits transfer to beneficiaries. With this release, an amount of more than 3 lakh crore, has been transferred to more than 11 crore farmers’ families.
Considering the need for positive supplementary income support for the farmer families in the country and to promote a productive, competitive, diversified, inclusive and sustainable agriculture sector, the Central government launched an ambitious scheme for farmers’ welfare – the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) on February 2, 2019.
Under the scheme, the eligible farmer families are provided a benefit of Rs 6,000 per year in three equal instalments of Rs 2000 each, every four months. The benefit is transferred directly to the bank accounts of eligible beneficiaries through Direct Benefit Transfer mode, using modern digital technology.
The scheme was initially announced in the Interim Budget 2019 by then Finance Minister Piyush Goyal and was subsequently launched by Prime Minister Narendra Modi.
To receive the installments, farmers need to complete their e-KYC (Know Your Customer). According to the PM Kisan official website, ” eKYC is mandatorily required to receive the PM Kisan fund. OTP-based eKYC is available on the PMKISAN Portal, or the nearest CSC centres may be contacted for Biometric-based eKYC.”
