PM Modi to Release Rs 18,640 Crore to 9.3 Crore Farmers Today

Prime Minister Narendra Modi will release the installment from Guwahati in Assam, transferring more than Rs 18,640 crore directly to the bank accounts of over 9.32 crore farmer families across the country through Direct Benefit Transfer (DBT).

Sharing details of the initiative, Chouhan said the move reflects the government's commitment to farmers and its emphasis on honouring the country's "annadatas".

Since the launch of the scheme in February 2019, the Centre has transferred more than Rs 4.09 lakh crore directly to farmers' bank accounts.

With the release of the 22nd installment, the cumulative disbursement will exceed Rs 4.27 lakh crore.

He said the scheme, introduced under the leadership of Prime Minister Modi, has laid the foundation for a significant and sustained transformation in the agriculture sector by providing direct income support to small and marginal farmers.

Under the programme, eligible farmer families receive Rs 6,000 annually in three equal installments, which are credited directly to their bank accounts.

According to the minister, more than 2.15 crore women farmers will also receive financial assistance under the upcoming installment.

The timely support helps farmers meet agricultural expenses such as seeds, fertilisers, pesticides and other farming inputs.

The assistance also contributes to meeting household needs including education and healthcare.

Chouhan noted that the government is making sustained efforts to economically empower women farmers and strengthen the financial condition of rural households through the scheme.

He added that several independent studies have found that the PM-Kisan initiative has strengthened the rural economy by reducing farmers' dependence on loans and encouraging greater investment in agriculture.

- IANS