PM-KISAN: PM Modi releases 8th instalment worth over Rs 20,000 cr to 9.5 cr farmers | Personal Finance News

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New Delhi: Prime Minister Narendra Modi on Friday released the eighth instalment of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on Friday via video-conferencing.

PM Modi released over Rs 20,000 crore to more than 9.5 crore farmer beneficiaries under PM-KISAN scheme.

PM Modi will also interact with five farmers from states like Uttar Pradesh, Maharashtra, Andhra Pradesh, Meghalaya, Jammu and Kashmir and Andaman and Nicobar on the occasion.

The last or 7th instalment of PM Kisan was paid on Christmas, December 25, which is also the birth anniversary of former PM Atal Bihari Vajpayee.

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme was launched by PM Modi in 2019. The Scheme aims to provide income support to all landholder farmer families across the country with cultivable land, subject to certain exclusions.

Under the Scheme, an amount of Rs 6000 per year is released in three 4-monthly instalments of Rs 2000 each directly into the bank accounts of the beneficiaries. In a financial year, PM Kisan installment is credited thrice through –Period 1 from April-July; Period 2 from August to November; and Period 3 from December to March.

PM-KISAN Scheme for only Small and Marginal Farmers’ families?

ln the beginning when the PM-KISAN Scheme was launched (February, 2019), its benefits were admissible only to Small & marginal Farmers’ families, with combined landholding upto 2 hectare. The Scheme was later on revised in June 2019 and extended to all farmer families irrespective of the size of their landholdings

The Central Government had notified a decision to extend the benefit of Rs 6,000 per year under the Pradhan Mantri Kisan Samman Nidhi scheme to all 14.5 crore farmers in the country, irrespective of the size of their landholding.

Who are excluded from the PM-KISAN Scheme?

Those excluded from the PM-KISAN include institutional land holders, farmer families holding constitutional posts, serving or retired officers and employees of State or Central government as well as Public Sector Undetakings and Government Autonomous bodies. Professionals like doctors, engineers and lawyers as well as retired pensioners with a monthly pension of over Rs 10,000 and those who paid income tax in the last assessment year are also not eligible for the benefits.

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