The Centre will announce the eighth installments of primary installment of Pradhan Mantri Kisan Samman Nidhi Yojana (PMKSNY) scheme on 14 May. This 14 May payouts, are going to be the primary instalment of PM Kisan for the fiscal year 2021-22.
Prime Minister Narendra Modi will announce the advantages at 11 AM via video conferencing on Friday, adding that the PM also will interact with the beneficiaries during the event.
According to the Prime Minister’s Office (PMO), this may enable the transfer of quite ₹19,000 crores to quite 9.5 crores beneficiary farmers families.
The seventh installment under the scheme was released on 25 December 2020.
Under the PM-KISAN scheme, a financial advantage of ₹6000 per annum is provided to the eligible beneficiary farmer families, payable in three equal 4-monthly installments of ₹2,000 each. The fund is transferred on to the bank accounts of the beneficiaries.
“In this scheme, Samman Rashi of over ₹1.15 lakh crores has been transferred to farmer families thus far ,” the PMO added.
The PM Kisan Samman Nidhi Yojana was announced by Union minister Piyush Goyal during the Interim Union Budget for 2019. The scheme has cost the govt ₹75,000 crore once a year after coming into effect from December 2019.