8.5 Crore Farmers Get Rs 2000 Each As PM Modi Transfers Rs 17,000 Crore Into Bank A/Cs

Prime Minister Narendra Modi of India waves to the crowd as he arrives to give a speech during a reception by the Indian community in honor of his visit to the United States at Madison Square Garden, Sunday, Sept. 28, 2014, in New York. (AP Photo/Jason DeCrow)

Indian Govt has initiated the direct cash transfer to crores of farmers, which will help them deal with the coronavirus pandemic and subsequent slowdown.

8.5 crore farmers received Rs 2000 each, directly into their bank accounts.

PM Modi Transfers Funds Directly Into Farmers’ Accounts

Another successful direct transfer of money into the farmers’ account has been done by PM Modi led BJP Govt.

Under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), 8.5 crore eligible farmers received Rs 2000 each, as Rs 17,000 crore was directly transferred to the farmers’ bank accounts.

An official statement from the Govt said that the PM “released the 6th installment under the PM-KISAN scheme of Rs 17,000 crore to nearly 8.5 crore farmers. The cash benefit was transferred directly to their Aadhaar verified bank accounts with the press of a button,”

No Middle Men, No Corruption

While announcing the successful transfer of money, PM Modu said that this massive transfer of money was done without any middlemen and without any corruption.

PM said, “No middlemen, no commission. The amount was transferred directly to farmers,”

Under the ambitious and massive Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), Rs 6000 is transferred annually to 8.5 crore farmers, via three equal installments of Rs 2000 each.

The scheme was started in December 2018, and Rs 75,000 crore has already been transferred under this program.

During the lockdown days, Rs 22,000 crore was transferred.

Around 10 crore farmers across India will be benefitted from this scheme. Farmers with a specific area of land for farming purpose are eligible for this scheme, and the objective is to provide them cash-relief when they need it.

Besides, a new Agriculture Infrastructure Fund worth Rs 1 lakh crore has also been launched, to help and empower farmers in India.

More details are awaited.

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