Modi 2.0 Cabinet chaired by PM Narendra Modi in June 2019, has comprehensively extended the scope of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) to all land holding eligible farmer families who will avail benefits under the scheme (but subject to existing exclusion factor).
PM-KISAN revised scheme is believed to cover approx 2 crores more farmers.
Now, it will increase total coverage of PM-KISAN to around 14.5 crore beneficiaries. It also costs Central Government around Rs. 87,217.50 crores for the year 2019-20.
PM-KISAN scheme was announced in interim Budget for the year 2019-2020 and launched on 24th February 2019 in Gorakhpur, Uttar Pradesh where the first rounds of installments were paid to several farmers.
PM-KISAN scheme provides beneficiary farmers income support of Rs. 6000. This amount is released in three-four (quarterly)-monthly installments of Rs.2000 each over the year. It is credited directly into the bank accounts of the beneficiaries held in destination banks through Direct Benefit Transfer mode.
The previsions criteria for small and marginal landholder farmer families to avail this benefit was cultivable land holding upto 2 hectares across the country.
So far, 1st installment to 3.11 crore beneficiaries and 2nd installment to 2.66 crore beneficiaries have been credited directly to the bank accounts of the farmer families.