Union Cabinet has approved the Pradhan Mantri Kisan Samman Siddhi Scheme. It will cost over Rs.87,000 crore a year to the exchequer. The government has announced its decision to extend the benefit of Rs.6,000 per year under the PM-KISAN scheme to all 14.5 crore farmers in the country, irrespective of the size of their landholding.
Pradhan Mantri Kisan Samman Siddhi:
The scheme was launched on 24th February 2019 in the run-up to the 2019 Parliamentary elections in Gorakhpur, Uttar Pradesh where the first rounds of installments were paid to several farmers.
The government so far distributed the first installment to 3.11 crore beneficiaries and second installment to 2.66 crore beneficiaries into their bank accounts through Direct Benefit Transfer mode.