Govt to extend advance cash payout for PM-Kisan beneficiaries

- Advertisement -

The Indian government had decided will make a prior payout of its global cash-for-farmers program, PM-KISAN, between April 1, 2 or 3, rather than in June, answering to the coronavirus outbreak, which could affect agriculture, India’s biggest bread-earner.

Under the scheme, the government gives Rs 6000 as a support to farmers annually with a valid enrolment, given in three equal cash transfers of Rs 2000 — one in four months. It was introduced by Narendra Modi on February 24, 2019, when the first installment was paid.

About 80.5 million farmers will be given approx. Rs 16000 crore total, an official shared, further informing that the Centre is all set to pay advances of all federally funded and partially-federally-funded cash and in-kind subsidies, such as old-age pensions and ration.

Also, small agribusiness owners might want access to emergency grants and millions in loans, shared the analysts. The extra fund has to be put aside for the rural unemployed too, they added.

This initiative has been approved by the PM Modi. The finance ministry is all set to give the amount to the agriculture ministry and so are all states to facilitate it, the officials shared.

The cash transfer will be done via the direct benefit transfer or DBT mode. This means all 80.5 million farmers will be paid Rs 2000 each in their bank accounts through electronic release by federal authorities.

The farmers who are eligible will be recognised on the basis of operational land holding data according to the agricultural Census Data 2015-16, which is then extrapolated to 2018-19, an official said. The state governments are required to give the exact data and payments.

The country has 140 million operational landholdings, which refers to the number of land parcels owned by total households. The eligible farmer count shows that registrations of about 59 million farmers are yet to be authenticated.

“This decision is obviously welcome. We also need income lifelines for all vulnerable sections, such as the urban manual workers who have migrated out and also agricultural labourers,” said Manoj Kumar Panda of the Institute of Economic Growth, Delhi University.