Ranchi: Vice President Venkaiah Naidu will inaugurate Mukhya Mantri Krishi Ashirwad Yojana, aimed at benefitting over 13.5 lakh farmers, in Harmu Ground of Jharkhand's Ranchi at 11 am on Saturday.
The scheme has been launched by Chief Minister Raghubar Das for welfare and financial upliftment of farmers. Around Rs 442 crore has been allocated to be directly transferred into the bank accounts of beneficiaries in the first phase of the scheme.
Under the scheme, farmers holding land of an acre or less would be eligible for receiving Rs 5,000 and farmers with five acres of land would be eligible to receive Rs 25,000 in two fixed installments.
This is the first scheme initiated by the state in which 100 per cent settlement would be through Direct Benefit Transfer (DBT) medium.
According to an assessment done by the state agriculture department, more than 83 per cent state farmers have less than or equal to two acres of land. Out of this, 65 per cent of farmers has less than one acre of land registered in their names.
The scheme was incorporated in the state budget from the financial year 2019-2020. Taking to Twitter, CM Das said that Rs 3,000 crore will be directly transferred into the accounts of 35 lakh farmers over the year.