NEW DELHI: Prime Minister Narendra Modi transferred Rs 17,000 crore directly to 8.5 crore farmers’ bank accounts under the PM Kisan Samman Nidhi Yojana on Sunday.
He said the scheme was successful in its goal of providing farmers with financial assistance without intermediaries involved.
The Center offers Rs 6,000 per annum for the same three instalments, introduced in December 2018, under the Pradhan Mantri Kisan Samman Nidhi scheme.
The national government is giving beneficiary farmers a cash value of Rs 6,000 in three equal installments a year under PM-KISAN scheme introduced in December 2018.
PM Modi has transferred the sixth installment of Rs 2,000 directly into the accounts of 8,5 crore farmers during a virtual event arranged to open the financial facility of Rs 1 lakh crore under the Agriculture Infrastructure Fund. This money shall only be transferred to the recipients’ verified Aadhar bank accounts.
PM Modi said on the occasion that there was no need for middlemen or fees, as the money went directly to the farmers. He was also pleased that the purpose of the scheme was achieved.
“Rs 17,000 crores of PM-Kisan Samman Nidhi have been deposited into bank accounts of 8.5 crore farmers with a single click. No middlemen or commission, it went straight to farmers. I am satisfied because the objective of the scheme is being fulfilled,” PM Modi said.
The scheme started in February 2019
Under this scheme, farmers have to be given six thousand rupees in three installments. The scheme started in February 2019. In the beginning, 231331 farmers of the district received two thousand rupees. This will be the sixth installment for these farmers. Apart from these, many other farmers have been added later. Therefore, among other farmers, someone will have the second, third, fourth or fifth installment. Farmers who have recently registered themselves. This will be his first installment.
What are the benefits of this scheme?
If the agricultural infrastructure is ready, the farmer will have better storage facilities for keeping fruits, vegetables and other agricultural products. Farmers will be able to keep their crops in cold storage. This will reduce wastage of crops and farmers will be able to sell their crops at a reasonable price at the right time. The establishment of a food processing unit will also benefit the farmers and will provide relief from the losses incurred every year.
What is the motive?
With this help, farmers will get more money for their crops and will help in increasing their income. The government is moving very fast on the promise of doubling farmers’ income. Funds of one lakh crore will be collected with the help of different financing institutions. 11 out of 12 public sector banks have already signed MOUs.
What is Agriculture Infrastructure Fund?
The Agri-Infra Fund is a part of the Rs 20 lakh crore relief package released by the government to reduce the impact of the corona virus crisis. The time period of Agri-Infra Fund is for 2029 i.e. up to 10 years. It aims to provide long-term loan financing for investment in post-harvest management infrastructure and projects for community farming through interest subvention and financial support.
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PM Modi said that this fund will help in creating better storage, modern cold storage chain in villages and many employment opportunities will be created in the village. During this program, PM Modi directly transferred 17 thousand crore rupees to the account of 8.5 crore farmers under PM Kisan Scheme.
PM Modi said that I am happy that what was the goal of our plan is being achieved. PM Modi said that 75 thousand crore rupees have been deposited directly into the bank accounts of farmers through the PM Kisan Samman Nidhi Yojana in the last year and a half. Of this, 22 thousand crore rupees have been passed on to the farmers during the lockdown due to corona.
Now solutions are being sought for all these questions related to farmers and farming under the self-reliant India campaign. The mission of one country, one market, for which the work was going on for the last 7 years, is now being completed. The mission of one country, one market with which work was going on for the last 7 years, is now being completed. Through the first e-NAM, a large technology-based system was created.
Now, by making law, the farmer was exempted from the purview of the mandi and the mandi tax. Now the farmer has many solutions. Now if the farmer wants to deal with his produce in his field, he can. Or directly from the warehouse, the farmers can deal with whoever pays the higher price to the merchants and institutions associated with e-NAM.