PM-Kisan: Centre to distribute Rs 12,000 crore to 6 crore farmers

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Giving the much required momentum to the current Center PM-Kisan initiative, Narendra Modi recently announced that he will give Rs 12,000 crore to 6 crore farmers by electronic transfer at an event in Tumkur, Karnataka.

The initiative will help in getting 2,000 rupees each prior to the harvest festivals such as Makar Sankranti, Lohri, Bihu, and Pongal, which are held in January in various parts of India.

The payment will be made straight to the bank accounts of the farmers at one time just like in the launch of the scheme ‘PM-Kisan’ (Pradhan Mantri Kisan Samman Nidhi) in February 24, 2019. Over Rs 2 billion rupees were sent to bank accounts of over 1.01 million farmers at their launch event in Gorakhpur, Uttar Pradesh.

Though the distribution of money on December 2 will not be able to capture the delay of the first two deliveries of the current financial year, it will definitely provide an added boost to the scheme that failed to meet its aim of the first delivery in July and the second delivery in November despite having started really well during the last quarter of 2018-19.

Despite getting a list of nearly 9.2 million beneficiaries verified by crore (eligible landowner farmers), the Ministry of Agriculture could pay the first installment (from Rs 2,000 each) of the current financial year to 7.46 million crore and the second installment to 5.96 million crore as of December 31, 2019.

According to the scheme, almost 14.5 million crore farmers, with a few exclusion, are eligible to receive Rs 6,000 per year in three equal installments of Rs 2,000 each in a financial year. Previously it was deliberated only for marginal and small farmers (with a tenure of up to five acres), but the scheme widened under Modi 2.0 covering all farmers, regardless of the size of their land. This scheme is not intended for landless farmers or sharecroppers ().

The Union Minister of Agriculture, Narendra Singh Tomar, and the Minister of Agriculture, Kailash Choudhary will also attend the event.