Rs 18,700 crore funds transferred under PM KISAN in past 2 months: FM Sitharaman

Image courtesy: twitter.PIB

New Delhi: Union Finance Minister Nirmala Sitharaman on Friday (May 15) announced that the third tranche will focus on agriculture, fisheries, dairy, food processing, and allied activities. Of these 11 measures, 8 are related to infrastructure related to agriculture and allied activities while the rest three are related to governance and administrative reforms.

The Finance Minister said that during lockdown provisions were made to conclude Rabi crop harvest and some states have gone ahead largely with the procurement process while observing social distancing. Agricultural work was supported during the two months of lockdown. 

"India is the largest milk producer, largest jute and pulses producer, 2nd largest in sugar cane, cotton, groundnut, fruits, vegetables and fisheries, 3rd in cereals. The Indian farmer has really endured and made sure that he would give us the highest yield," she said.

The FM said that a new scheme has been launched for interest subvention @ 2% per annum to dairy cooperatives for 2020-21 aimed at unlocking Rs 5000 crores additional liquidity, benefitting 2 crore farmers.

About animal husbandry, she said that additional steps taken during COVID-19 lockdown are: 

- During Lockdown, the demand for Milk reduced by 20-25%. 
- 560 Lakh litre per day(LLPD) procured by cooperatives against the daily sale of 360 LLPD. 
- Total 111 Crore Litres extra procured ensuring payment of Rs 4100 Cr. 
-  A new scheme to provide interest subvention @2% per annum to dairy cooperatives for 20-21. 
-  Additional 2% pa interest subvention on prompt payment/interest servicing. 
- This scheme will unlock 5000 Cr additional liquidity, benefitting 2 crore farmers. 

The Finance Minister said that funds transfer worth Rs 18,700 crores has been done under PM KISAN in the past 2 months and PM Fasal Bima Yojana claims worth Rs 6,400 crores released in past 2 months.

Funds transfer worth Rs 18,700 crores has been done under PM KISAN in past 2 months and PM Fasal Bima Yojana claims worth Rs 6,400 crores released in past 2 months: Union Minister @nsitharaman#AatmaNirbharDesh pic.twitter.com/hQlqbiwlG0

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Additional steps taken for agriculture during COVID-19 lockdown are:

-A number of measures supporting farmers were explained yesterday. 
- Additional measures taken during the last 2 months are below 
-During lockdown period Minimum Support Price (MSP) purchases of amount more than Rs 74,300 crores 
- PM KISAN fund Transfer of Rs 18,700 crores • PM Fasal Bima Yojana claim payment of Rs 6,400 crores