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Prime Minister Narendra Modi to launch Rs 75,000 crore farmers scheme in Gorakhpur on Sunday

The scheme, which is seen by many as the gamechanger before the upcoming Lok Sabha poll, was announced by Finance Minister Piyush Goyal in the interim budget 2019-20. 

Prime Minister Narendra Modi to launch Rs 75,000 crore farmers scheme in Gorakhpur on Sunday

NEW DELHI: Prime Minister Narendra Modi will launch Rs 75,000 crore Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) during his visit to Gorakhpur in Uttar Pradesh on Sunday.

The scheme, which is seen by many as the gamechanger before the upcoming Lok Sabha poll, was announced by Finance Minister Piyush Goyal in the interim budget 2019-20. 

The Prime Minister is set to launch the scheme, which is likely to benefit 12 crore farmers across the country, from the Fertilizer Corporation of India ground by pressing a button to transfer the first instalment of Rs 2,000 to selected farmers.

Under the scheme,  small and marginal farmer families having combined land holding/ownership of up to two hectares will receive Rs 6,000 per year from the government in three instalments of Rs 2,000 each. In order to reduce corruption in the disbursal of money, the government has decided to transfer the money directly into the bank accounts of beneficiaries through the direct benefit transfer (DBT) scheme. 

Government sources told IANS that some select farmers will also receive certificates from the Prime Minister under the PM-KISAN scheme. The PM will also interact with some beneficiaries of the scheme through video conferencing.

"The PM-KISAN scheme aims to supplement the financial needs of small and marginal farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income at the end of each crop cycle. This would also protect them from falling in the clutches of moneylenders for meeting such expenses and ensure their continuance in farming activities," said a government statement.

The PM-KISAN scheme, which is funded by the central government, became effective on December 1, 2018 for transfer of benefit to eligible beneficiaries. "The state governments and the UT administration will identify the farmer families, which are eligible for support as per scheme guidelines," it said.