PM Modi Announces New Year Gift for Farmers: Rs. 10,000 Deposited Directly into Accounts

In a significant move to support the agricultural community, Prime Minister Narendra Modi has announced a New Year gift for farmers by facilitating a direct transfer of Rs. 10,000 into their accounts. This decision comes as part of the ongoing efforts by the central government to enhance the welfare of farmers through various initiatives.

Highlights:

• Introduction of additional financial support under PM Kisan Yojana
• New assistance amount aims to bolster farmers' financial stability

The PM Kisan Yojana, launched in 2019, was designed to strengthen the financial foundation of farmers by providing annual crop assistance. Currently, eligible farmers receive Rs. 6,000 per year, disbursed in three installments. The program has garnered considerable acclaim for its impact on rural livelihoods.

The government is exploring the possibility of increasing this annual assistance from Rs. 6,000 to Rs. 10,000, a move widely anticipated to be announced in the upcoming Union Budget on February 1, 2025. Discussions among the public suggest that this increase will further empower farmers as they navigate agricultural challenges.

Under the existing structure of the PM Kisan Yojana, the central government deposits Rs. 2,000 for each installment. These payments occur in the months of April, July, August, November, December, and March, totaling 18 installments disbursed thus far. Farmers are eagerly awaiting the release of the 19th installment, expected in February 2025.

The Modi government remains committed to implementing initiatives that alleviate financial burdens on farmers, ensuring that agricultural communities receive the necessary support to thrive.

As this New Year approaches, the direct deposit into farmers' accounts is seen as a welcome gesture, reflecting the government's resolve to create a financially robust agricultural sector.