PM-KISAN Scheme: Centre releases 13th installment of ₹16,800 Cr

About eight crore eligible farmers will now get the 13th installment of Prime Minister Modi's flagship PM-KISAN programme, worth Rs. 16,800 crore, effective on Monday. Prior to Holi and rabi harvesting, the national government announced that the payment will be released for direct transfer into the bank accounts of the beneficiaries. The 11th and 12th instalments of the PM-KISAN plan were issued in May and October 2022. Each eligible beneficiary receives ₹6,000 yearly in three equal instalments of ₹2,000 under the Pradhan Mantri Kisan Samman Nidhi Program.

“Hon'ble Prime Minister will release the 13th instalment of the PM KISAN scheme on 27th Feb. 2023 at 03:00 PM,” stated PM Kisan portal. Though the event was conducted today, farmers and transfer of benefits to farmers under PM Kisan Samman Nidhi (PM-KISAN) scheme through direct bank transfer has been commenced today by Hon’ble PM. The event was held today in conjunction with the Indian Railways and the Jal Jeevan Mission, and took place at Belagavi, Karnataka. The Union Minister of Agriculture & Farmers Welfare, Shri Narendra Singh Tomar and the Secretary, Ministry of Agriculture and Farmers Welfare, Shri Manoj Ahuja handled the event jointly.

More than 11 crore farmer families, mostly the small and marginal, have received more than 2.25 lakh crores in assistance till date according to a release published by the Ministry of Agriculture & Farmers Welfare. Interestingly, multiple installments totalling Rs. 1.75 lakh crores were given out during the Covid shutdown to help these struggling farmers. Almost three crore female beneficiaries of the scheme have received approximately Rs. 53,600 crores in financing as a result.

Mr Pankaj K Dwivedi, Head of Business Development & Partnerships, nurture.farm said "Farmers play a significant role in our economy, and the Indian government should be applauded for taking this initiative. Many Indian farmers will benefit from Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). This scheme is crucial in allowing agriculture to contribute to the country's economic growth and help farmers deal with issues like market volatility, climate change, and growing input costs. Under the scheme, the government will offer financial benefits worth ₹16,800 crore to over eight crore eligible farmers. The economic benefit is ₹6,000 annually in three equal instalments of ₹2,000 every four months. The government will be directly transferring the funds into the beneficiaries' bank accounts. The registration process is simple, and minimal paperwork is needed, making it very accessible. Initiatives like these help farmers become financially resilient. We sincerely appreciate this action and hope that more financial assistance for farmers will follow. "

Mr. Amit SInha, Founder, Unnati Agri said “The PM-KISAN scheme is a commendable initiative by the Indian government to support and uplift the farming community of the country. The release of the 13th installment of Rs. 16,800 crore by Prime Minister Modi on Monday reaffirms the government's commitment towards the welfare of farmers. This scheme has not only provided financial assistance to millions of farmers across the nation, but has also brought about a sense of security and stability in their lives. Due to this farmers are able to spend on quality inputs for their farms and improve their productivity. It is heartening to see the government take proactive measures to address the concerns of the farming community and ensure their well-being."

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme was launched by Prime Minister Shri Narendra Modi in 2019. Subject to certain restrictions, the scheme attempts to offer financial assistance to all landholder farmer families with cultivable land across the nation. According to IFPRI, PM-KISAN funds are helping recipients meet their agricultural needs and other expenses like education, medical care and marriage, said theMinistry of Agriculture & Farmers Welfare.