Prime Minister Narendra Modi on February 24, will formally unveil the Pradhan Mantri Kisan Samman Nidhi scheme from Gorakhpur.

Under the Pradhan Mantri Kisan Samman Nidhi scheme, on the same day, the central government will make the first installment of Rs. 2000 in the bank accounts of beneficiary farmers. On the same day, over 1 crore farmers will be offered the first installment of Rs. 2000.

It is likely that around 25 million farmers will seek the first installment in the account by March 31.

The centre-led NDA government has written a letter to all state governments, asked for details of farmers, who are falling under the scope of this beneficiary scheme.

States like Maharashtra, Uttar Pradesh, Tamil Nadu, and Gujarat have shown an active interest in sending the list of the farmers.

The first installment will be transferred by the central government by March 31 to bank accounts of all small farmers.

Following the introduction of the first installment soon after its launch, the second installment under the Pradhan Mantri Kisan Samman Nidhi scheme can be transferred after April 1.

The central government during the interim budget had announced this new scheme in the sector of agriculture, which will demand an annual payment of Rs. 6000 annually to each of 12 crore marginal farmers in the nation.

The scheme was titled as “Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)”, which will involve annual expenses of Rs. 75,000 crore.

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