On January 1, 2022, Prime Minister Narendra Modi will give the tenth tranche of financial assistance under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme. According to the Prime Minister’s Office (PMO), the event would be held through video conference.
The Prime Minister also stated that he will distribute over 20,000 crore to over 10 crore eligible farmer families.
A financial reward of 6,000 per year is offered to qualifying farmer families under the PM-KISAN scheme, payable in three equal four-monthly instalments of 2,000.
The funds are deposited immediately to the beneficiaries’ bank accounts.
According to the PMO, a total of 1.6 lakh crore has been transferred under the scheme so far.
During the programme, PM Modi will also distribute an equity award of over 14 crore to 351 farmer producer organisations (FPOs), benefiting over 1.24 lakh farmers, according to the PMO.
The Prime Minister released the ninth instalment of the PM-KISAN plan in August of this year, thereby transferring 19,500 crore to over 9.75 lakh farmers.
PM Modi released $19,000 crore as the seventh payment of the plan, which helped 9.5 crore farmers, in May of this year.
PM-KISAN is a programme for farming families. The yearly payment is sent directly into the bank account of one family member, according to the scheme’s guidelines. The government would take back the money if both husband and wife are found to be taking advantage of the arrangement.
Those who use their farms for purposes other than farming are ineligible for the program’s benefits. People who work on someone else’s farm and aren’t the landowners are also ineligible.
Furthermore, even if the land is registered in the name of the person’s father or grandfather, the programme will not be available.
According to media reports, the scheme does not apply to existing or retired government employees, serving or past MPs and MLAs, or ministers who own farmland.