The Prime Minister also stated that he will distribute over 20,000 crores to more than 10 crore beneficiary farmer families. A financial reward of 6,000 per year is offered to beneficiary farmer families under the PM-KISAN scheme, payable in three equal four-monthly instalments of 2,000.

The funds are deposited immediately to the beneficiaries bank accounts. According to the PMO, a total of 1.6 lakh crore has been transferred under the scheme so far. The Prime Minister released the ninth instalment of the PM-KISAN plan in August of this year, thereby transferring 19,500 crores to over 9.75 lakh farmers.

During the event, PM Modi will also allocate an equity grant of over 14 crores to 351 farmer producer organisations (FPOs), benefiting over 1.24 lakh farmers, according to the PMO.

PM-KISAN is a scheme for farming families. According to the scheme’s guidelines, The yearly payment is sent directly into the bank account of one family member. The government would take back the money if both husband and wife are found to be taking advantage of the arrangement. Those who use their farms for purposes other than farming are ineligible for the scheme’s benefits. People who work on someone else’s farm and aren’t the landowners are also ineligible.

Under the PM Kisan Samman Nidhi Scheme, financial assistance of Rs 6000 is provided in three equal installments by the Central Government to the eligible beneficiary in a year. This is an ambitious plan by PM Modi to double the income of farmers and empower the farmers of the country. So far, farmers have received Rs 12,000 in 6 installments under this scheme. Under the PM Kisan scheme, 11 crores 59 lakh farmers have registered themselves.

State Governments have issued Fund Transfer Order (FTO) to banks to pay the 7th installment of PM Kisan Samma Nidhi Yojana. After the Prime Minister started the fund transfer program, banks have also started sending money to farmers’ accounts.

Today in Video conferencing, The Prime Minister said the farmers are getting a pucca house, toilet, and clean piped drinking water. They have benefited greatly from the free electricity connection, free gas connection, and free treatment up to Rs. 5 lakh under the Ayushman Bharat scheme has reduced the farmer’s burden.

Read full press release here