On August 9, 2020, Prime Minister Narendra Modi released the 6th instalment under the PM KISAN scheme of Rs 17,000 crore to nearly 85 million farmers. This cash benefit was transferred directly to the Aadhaar verified bank accounts of farmers at a function organised via video conference to launch a financial facility of Rs 1 trillion under the Agriculture Infrastructure Fund.
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The PM-KISAN scheme was launched in December 2018 to provide income support by way of a cash benefit to all landholding farmers (subject to certain exclusion criteria) to enable them to fulfil their agricultural requirements and support their families without the involvement of any middlemen. The Centre provides Rs 6,000 per year in three equal instalments under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.
Rs 75,000 crore has been transferred to farmers’ accounts under the scheme in the last one-and-a-half years, of which Rs 22,000 crore was remitted during the lockdown period. With the recent transfer, the scheme has now provided over Rs 90,000 crore in the hands of more than 100 million farmers since its launch.
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