PM Modi releases 18th installment of PM Kisan Samman Nidhi, over Rs 20,000 crore credited to farmer accounts

Prime Minister Narendra Modi has credited the 18th installment of funds under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme into the bank accounts of over 9.4 crore farmers. In a move that will help boost the income of India's farmer community, over Rs 20,000 crore has been directly transferred to beneficiaries across the country on Saturday.

PM Modi digitally released the latest tranche from Washim, Maharashtra via video-conferencing. Under the flagship scheme, all small and marginal farmers receive an annual financial benefit of Rs 6,000 distributed in three equal installments of Rs 2,000 every four months. The scheme was launched in 2019 with an aim to provide income support to farmers and shore up their financial condition.

As per official sources, the latest installment has benefitted over 9.45 crore farmers, who will now be able to meet daily needs and farming expenses. With the release of funds, the total amount transferred under PM-KISAN now stands at over Rs 3.45 lakh crore. Eligible farmer families are being identified using land ownership records from state revenue departments.

Speaking at the event, PM Modi said the government is committed to the welfare of farmers and boosting their livelihoods. He credited the scheme for infusing new confidence and ambition among the farming community. The next installment of PM-KISAN will be deposited in the months of January-February 2023.

In simple terms, the PM-KISAN scheme aims at supplementing farmers' income by providing them with minimum income support to lead a dignified life. Timely disbursal of financial help has come as a major relief for farmers battling rising input costs. The massively popular program also fulfills the Modi government's promise of doubling farmers' income by 2022.