PM-KISAN 8th instalment: PM Modi to transfer over Rs 19,000 crores to farmers on May 14

New Delhi: Farmers who have been eagerly waiting for the eighth instalment of the Prime Minister Kisan Samman Nidhi Scheme (PM-KISAN) will get it on the auspicious occasion of Akshaya Tritiya.

PM Modi will release the 8th instalment of financial benefit under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on 14th May at 11 AM via video conferencing. This will enable the transfer of more than Rs. 19,000 crores to more than 9.5 cr beneficiary farmer families, confirmed the PMO.

Akshaya Tritiya is falling on May 14.

The last or 7th instalment of PM Kisan was paid on Christmas, December 25, which is also the birth anniversary of former PM Atal Bihari Vajpayee.

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme was launched by PM Modi in 2019. The Scheme aims to provide income support to all landholder farmer families across the country with cultivable land, subject to certain exclusions.

Under the Scheme, an amount of Rs 6000 per year is released in three 4-monthly instalments of Rs 2000 each directly into the bank accounts of the beneficiaries. In a financial year, PM Kisan installment is credited thrice through --Period 1 from April-July; Period 2 from August to November; and Period 3 from December to March.

PM-KISAN Scheme for only Small and Marginal Farmers' families?

ln the beginning when the PM-KISAN Scheme was launched (February, 2019), its benefits were admissible only to Small & marginal Farmers' families, with combined landholding upto 2 hectare. The Scheme was later on revised in June 2019 and extended to all farmer families irrespective of the size of their landholdings

The Central Government had notified a decision to extend the benefit of Rs 6,000 per year under the Pradhan Mantri Kisan Samman Nidhi scheme to all 14.5 crore farmers in the country, irrespective of the size of their landholding.

Who are excluded from the PM-KISAN Scheme?

Those excluded from the PM-KISAN include institutional land holders, farmer families holding constitutional posts, serving or retired officers and employees of State or Central government as well as Public Sector Undetakings and Government Autonomous bodies. Professionals like doctors, engineers and lawyers as well as retired pensioners with a monthly pension of over Rs 10,000 and those who paid income tax in the last assessment year are also not eligible for the benefits.