PM Kisan Samman Nidhi Yojana: Good News For Farmers. Govt to Release Rs 22,000 Crore in Dec-March For Them | Details Here

PM Kisan Samman Nidhi Yojana: As per reports, the funds will be released in the next phase of installment for the December to March quarter of FY 2022.

PM Kisan Samman Nidhi Yojana Latest News: Good news for lakhs of farmers across India. They are going to receive benefits of the PM Kisan scheme soon. As per a report by News 18, the Centre is all set to release Rs 22,000 crore to the account of farmers as part of the PM Kisan scheme. The report suggested that the funds to be released in the third installment for the December to March quarter of FY 2022. Till now, the Central government has provided a sum amounting around Rs 1.57 lakh crore to farmer families in the scheme.

As per various media reports, the 10th installment of the PM Kisan scheme will be released between December 15 to 25.

The government sources on Tuesday told CNBC TV18 that the Centre has so far spent Rs 43,000 crore for the PM KISAN scheme in financial year 2022 to help farmers.

As the Centre will release the third installment for December to March quarter in 2022, the Rs 65,000 crore budget allocated for this fiscal will be used up.

The sources added that further Rs 500 crore to Rs 1,000 crore may be additionally needed for PM KISAN in FY22 as more and more farmers are registering for the scheme.

He said that the Centre is expecting to add 15 lakh more farmers to the scheme in West Bengal. Then, the total number of beneficiaries will increase up to 50 lakh, up from the current 35 lakh, in the state.

Notably, the Centre is not planning to bring in any change in the current rules regarding the PM KISAN scheme.

It must be noted that the Centre provides an annual financial benefit of Rs 6,000 to eligible farmer families, payable in three equal four-monthly installments of Rs 2,000 each. The Centre had announced scheme in February 2019 during the Union Budget. The fund in every installment is transferred directly to the bank accounts of the beneficiaries.

PM Modi in August this year had directly transferred about Rs 19,500 crore to over 9.75 crore beneficiaries farmers under the PM-KISAN scheme.

In the meantime, the Centre has linked 2.28 crore PM KISAN beneficiaries with Kisan Credit Card scheme, under which they have been able to avail loan up to Rs 2.32 lakh crore. Through Kisan Credit Card and PM KISAN scheme, the eligible farmers receive several benefits from the Centre.

The other central scheme to provide the pensions for farmers include Pradhan Mantri Kisaan Samman Nidhi,  PM Kisan Maandhan Yojana, PM Kisan Credit Card, and PM Kisan ID Cards.