PM Modi to release 10th installment of PM-KISAN financial benefit on January 1

Prime Minister Narendra Modi will release the 10th installment of financial benefit under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on January 1, 2022. The event will be organised via video conferencing, the Prime Minister’s Office (PMO) said.

The Prime Minister will transfer an amount of over ₹20,000 crore to more than 10 crore beneficiary farmer families, the PM further said.
Under the PM-KISAN scheme, a financial benefit of ₹6,000 per year is provided to eligible farmer families, payable in three equal four-monthly installments of ₹2,000.

The fund is transferred directly to the bank accounts of the beneficiaries.
So far, an amount of ₹1.6 lakh crore has been transferred under the scheme, according to the PMO.

During the program, PM Modi will also release an equity grant of more than ₹14 crore to about 351 farmer producer organizations (FPOs), which will benefit more than 1.24 lakh farmers, the PMO added.

The ninth installment of PM-KISAN scheme was released by the Prime Minister in August this year when he virtually transferred ₹19,500 crore to over 9.75 crore farmers.

In May this year, PM Modi released ₹19,000 crore as the eighth installment of the scheme which benefited 9.5 crore farmers.

PM-KISAN is for families involved in farming. According to the rules of the scheme, the yearly amount is deposited directly into the bank account of one family member. If both husband and wife are found availing the benefit of the scheme, the government will take back the amount.

Those who are using their farmlands for some work other than farming are ineligible for benefit under the scheme. Also, people working on the farm of another person and are not owners of the land are ineligible.

Further, the scheme cannot be availed even if the land is registered under the name of the person’s father or grandfather, according to Hindustan Times' sister publication Livehindustan.

The scheme is also not valid for owners of farmlands who are either current or retired government employees, serving or former MPs and MLAs or ministers, according to Livehindustan.

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