New Delhi: The 19th instalment of the PM-Kisan Samman Nidhi Yojana will be released during Prime Minister Narendra Modi’s visit to Bhagalpur, Bihar. Ahead of the event, he announced that the scheme has transferred nearly Rs 3.5 lakh crore to farmers’ bank accounts since its launch.

Modi said the scheme has strengthened small farmers by improving their market access, reducing costs, and increasing their income. He described it as a major step in supporting the agriculture sector, which has seen rapid development under the government.

This instalment will disburse Rs 22,000 crore to 9.8 crore farmers, according to Union Agriculture Minister Shivraj Singh Chauhan. The number of beneficiaries has increased from 9.4 crore in the previous year. In Assam, 20.87 lakh farmers will receive Rs 475 crore, 10 per cent more than the last instalment, Chief Minister Himanta Biswa Sarma confirmed. Modi will also visit Assam after inaugurating the Global Investment Summit in Bhopal as part of his three-state tour.

Since the scheme's launch in 2019, the number of beneficiaries has grown from 1 crore farmers in the first instalment. However, between June 2023 and May 2024, around 1.16 lakh farmers withdrew from the scheme, with Bihar recording the highest number at 29,176.

PM-Kisan, introduced in the 2019 Union Budget, provides Rs 6,000 annually to eligible farmers in three instalments of Rs 2,000 every four months. In January, the government made it mandatory for new applicants to obtain a farmer ID for enrolment and set a target of generating 6 crore farmer IDs by March.

BI Bureau