ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
  • GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
  • Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
  • Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
  • Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
Read in App
Business News » India News

PM-KISAN scheme to be rolled out Sunday; over 1 cr farmers to get Rs 2,000 each in 1st tranche

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

Prime Minister Narendra Modi on Sunday will launch the Rs 75,000-crore Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme in Gorakhpur, Uttar Pradesh, by transferring the first instalment of Rs 2,000 each to over one crore farmers, a senior agriculture ministry official said.

Another one crore farmers will be covered in the next 2-3 days, the official said.

In the interim Budget 2019-20, the central government had announced the PM-KISAN scheme under which Rs 6,000 per year will be given in three instalments to 12 crore small and marginal farmers holding cultivable land up to two hectares.

The prime minister in a tweet said, "Tomorrow is a historic day! The Pradhan Mantri Kisan Samman Nidhi will be launched from Gorakhpur. This is a scheme that will give wings to the aspirations of crores of hardworking farmers of India who feed our nation." He further said that "tomorrow's launch of PM Kisan Samman Nidhi demonstrates two things: NDA's unwavering commitment to farmer welfare and speedy decision making -- a scheme announced on 1st February has become a reality in such a short span. This is the new work culture of New India".

The scheme has been made effective from this fiscal itself and as a result, farmers would get one instalment before March-end. This programme is part of the government's effort to address farm sector distress, caused by lower sales realisation on bumper production of foodgrains, oilseeds, sugarcane, cotton and horticulture crops.

"To provide an assured income support to the small and marginal farmers, the government is launching the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)," the Union agriculture ministry said in an official statement on Saturday.

The ministry in its statement did not mention the number of farmers who will get their first instalment of Rs 2,000 on Sunday.

However, the senior official said over one crore farmers from 14 states, including UP and Karnataka, will get their first instalment on Sunday and one crore more beneficiaries, spread over 28 states and one UT, would get their instalment in the next 2-3 days.

Explaining the modalities of cash dole, the ministry said this income support will be transferred directly into the bank accounts of beneficiary farmers, in three equal instalments of Rs 2,000 each.

"The Centre will transfer the amount to the bank account of the beneficiaries through State Notional Account. For transfer of benefit, district-wise beneficiaries' list has to be certified and uploaded by the states/UTs on the PM-KISAN portal of the central government," it added.

The funds would be electronically transferred to the beneficiary's bank account by the Centre through State Notional Account on a pattern similar to MGNREGS.

"PM-KISAN would not only provide assured supplemental income to the most vulnerable farmer families, but would also meet their emergent needs especially before the harvest season. PM-KISAN would pave the way for the farmers to earn and live a respectable living," the statement said.

A small and marginal landholder farmer family for the purpose of the calculation of the benefit has been defined as "a family comprising of husband, wife and minor children (up to 18 years of age) who collectively own cultivable land up to 2 hectare as per land records of the concerned State/UT".

The existing land-ownership system in the concerned states/UTs will be used for identification of beneficiaries. Those whose names appear in land records as on February 1, 2019, are eligible for benefit.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Sat, Feb 23, 2019
09:20 pm
PTI
RELATED NEWS
GST council clears proposal to remove tax exemptions on some items GST council clears proposal to remove tax exemptions on some items
15 more firms selected under PLI scheme for white goods 15 more firms selected under PLI scheme for white goods
JP Morgan bullish on global markets in H2; rejects possibility of recession, sees inflation receding in second half JP Morgan bullish on global markets in H2; rejects possibility of recession, sees inflation receding in second half
Punjab Budget 2022-23: AAP government presents its first budget;  for FY 2022-23; at Rs 1,55,860 crore FM proposes 14.2% jump in budget expenditure Punjab Budget 2022-23: AAP government presents its first budget; for FY 2022-23; at Rs 1,55,860 crore FM proposes 14.2% jump in budget expenditure
India suffering from low labor participation rate, rupee depreciating in the world, says RBI Deputy Governor Michael Patra India suffering from low labor participation rate, rupee depreciating in the world, says RBI Deputy Governor Michael Patra

LATEST NEWS

Equitas Small Finance Bank increases FD, RD interest rates - Full Details

Stocks to buy today: Mahindra CIE, Wipro, Shakti Pumps and ICICI Bank among list of 20 stocks for profitable trade on June 29

India to ban single-use plastic from 1 July

Gold rises Rs 52; silver falls Rs 60

Apple iPhone 14 Pro to feature Always-On Display - Check expected launch date, specifications and more

National Insurance Awareness Day 2022: Survey studies awareness levels, purchase triggers of contemporary insurance products - What it found

Wealth Guide: ULIP investments - Advantages explained, myths busted by expert

Wealth Guide: National Insurance Awareness Day 2022: Significance, importance of 'Financial Security' - Expert explains

Rakesh Jhunjhunwala Stock: What makes brokerage bullish on Indian Hotels, 21% upside seen - know reasons here

GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV