PM transfers ₹ 17,100 crore into bank accounts of farmers

Prime Minister Narendra Modi has electronically transferred ₹ 17,100 crores to the bank accounts of over 8.5 crore farmers as part of the PM-KISAN scheme. This aims to provide direct support of ₹ 6,000 per year to them.

The amount was part of the sixth instalment of the scheme launched in 2018. The government claims to have provided a direct cash benefit of over ₹ 90,000 crore to more than 10 crore farmers as part of the scheme.

“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 during the launch of a financing facility for farmers.

The Agriculture Infrastructure Fund was launched by the Prime Minister through a video conference which was attended by farmers, cooperatives, and citizens. Under this fund farmers will get support to get greater value for their produce, as they will be able to store and sell at higher prices, reduce wastage, and increase processing and value addition.

The first sanction of over ₹ 1000 crore was made to over 2,280 farmers under the Agriculture Infrastructure Fund today, the Prime Minister’s Office said in a statement.

The scheme has helped support farmers during the Covid-19 pandemic, claims the government.Over 9 crore farmers have registered themselves under the scheme between December 2018 and November 2019.

Watch in Sign Language