The Central government on Friday credited into the bank accounts of 55.36 lakh farmers, the first installment of money under the PM Kisan scheme in the current financial year.
A sum of Rs 985.61 crore has been credited into the accounts of farmers, Chief Minister B.S. Yediyurappa said. Mr. Yediyurappa, Home Minister Basavaraj Bommai and Bengaluru Central MP P.C. Mohan participated in the virtual meeting presided over by Prime Minister Narendra Modi on the occasion.
Under the scheme, income support of Rs 6,000 per year in three equal installments would be provided by the Centre to small and marginal farmer families having combined land holdings/ownership of up to two hectares. The amount is expected to benefit farmers who had faced severe financial constraints owing to lockdowns.
The scheme with 100% funding from the Central government became operational in 2018-19. A sum of ₹6,936.98 crore had been released to bank accounts of 55.06 lakh farmers in the State from March 2019 to March 2021.
In addition to the Centre’s amount, the Karnataka government released Rs.4,000 each in two installments to the farmers’ accounts and this amounted to Rs.2,891.70 crore. Hence, a farmer gets Rs10,000 each a year.
The Chief Minister thanked the Prime Minister for releasing the amount, which was the first of three installments of this financial year.