Thursday, December 1, 2022

Good news for farmers! Installment of PM Kisan scheme is just about to come 

There is a lot of good news for crores of farmers associated with the PM Kisan Samman Nidhi (PM Kisan scheme). In the account of crores of farmers associated with PM Kisan Yojana, the eighth installment of Rs 2,000 can be transferred in a day or two. 

In fact, the Public Finance Management System has issued a Fund Transfer Order (FTO). Now the central government will start transferring money to the farmers’ account. It can happen nowadays or anytime in a day or two. The installment of April-July of the financial year 2021-22 will come into the account of farmers in the next one or two days. 

It is important to note that usually by the 20th of April, the first installment of PM Kisan Yojana would come for the new financial year. But this time it is too late. 

Why the delay 

According to sources, this time many processes like updating of data from states and signing requests for transfer (RFT) were delayed. Actually, the nodal officers of the states update the data of the eligible farmers and keep them on the portal from time to time. On the basis of this data, the Nodal Officers sign the RFT, in which the total number of beneficiaries is given.

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After this, the Public Finance Management System issues a fund transfer order and on the basis of this, the Ministry of Agriculture, Cooperation, and Farmers Welfare orders the amount to be released. After this, the installment amount reaches the farmers’ bank account.

What is PM Kisan Yojana 

It is worth noting that through PM Kisan Yojana, the Modi government of the Center deposits an installment of Rs. 2 thousand every four months in the accounts of farmers. In a year, a total of 6 thousand rupees are sent to farmers’ accounts. The scheme came into force on 1 December 2018. This money is directly transferred to the bank accounts of the farmers.

Three times a year the central government transfers 2000-2000 rupees to the farmers’ account under this scheme. Under this scheme, the government gives Rs. 6000 in three installments to small farmers every year. The first installment in every financial year comes from 1 April to 31 July, the second installment comes from 1 August to 30 November, and the third installment from 1 December to 31 March. The installment is directly transferred to the farmers’ account. 

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