Latest News: Centre Transfers Rs 7,384 crore to Farmers under PM-Kisan Yojana since April 1

According to latest official data, government has transferred Rs 7,384 crore under the ambitious PM-Kisan Yojana since the Coronavirus relief package was announced last month. The target was to distribute April-July PM-Kisan installment of Rs 2,000 each to around 9 crore farmers immediately due to COVID-19 pandemic and lockdown.

Abha Toppo Updated 7 April, 2020 12:28 PM IST

The Centre on 26^th March 2020 had announced a ‘Rs 1.7-lakh-crore’ relief package for the poor & weak sections of society. And one component of the package was quick release of first installment of PM-Kisan for the financial year 2020-21.

Of the total amount that has been disbursed under PM-Kisan scheme since the announcement of the package, more than 65 percent was transferred on 1^st April i.e. on the very first day of the new fiscal. Under Pradhan Mantri Kisan Samman Nidhi Yojana, launched in 2019, each beneficiary farmer is given Rs 6,000 every year in three equal installments.

A government source said that “Over 43 percent of the targeted beneficiaries have received the benefit in only six days while the remaining will get the installment very soon. We have not yet started disbursal to those who got four installments until 31^st March as they are eligible to get the fifth one (April-December period). Around 3.5 crore farmers are eligible to receive the fifth installment & the total outgo would improve substantially after the benefit is transferred to them”.

More than Rs 60,500 crore has been transferred into the bank accounts of 9.14 crore; 8.49 crore; 6.98 crore & 5.67 crore farmers as 1st, 2nd, 3rd and 4th installments of PM-Kisan, respectively as on 6^th April since the yojana was launched in February 2019.

Pushpendra Singh, President of Kisan Shakti Sangh said that many land-owning migrant workers who have returned to the villages after lockdown would also need this PM-Kisan scheme benefit. Hence the government should fix a target & transfer the amount within a week.

He said that “Farmers need the help badly to meet the labour costs so that they start harvesting of rabi crops. When trading in mandis has stopped, there is no hope of selling their produce in near future. Even milk prices have gone down by 30% and many farmers are not able to sell milk. Thus, the government’s financial support is crucial for farmers”.

The budget estimate for PM-Kisan scheme for FY20 was Rs 75,000 crore but the revised estimate is around Rs 54,370 crore.