Finance Ministry wants 2 'PM Kisan' instalments paid by month-end -Shishir Sinha
-The Hindu Business Line
The Finance Ministry has asked the Agriculture Ministry to complete the payout of two instalments of Rs.4,000 to farmers under the PM Kisan scheme by September 30. This is to boost rural demand in the coming festival season.
PM Kisan or Pradhan Mantri Kisan Samman Nidhi is an income support scheme. It provides Rs.6,000 in three equal instalments annually. Initially, the coverage was limited to small and marginal farmers (roughly 86 per cent or 12.5 crore farmers with cultivable landholding up to 2 hectares).
However, government, in its first Cabinet decision during second term, decided to expand the coverage to all farmers, which means around 14.5 crore farmers will get the benefit. The government has allocated ?87,217.50 crore for the current year. It became operational on December 1 last year.
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