On October 5, 2024, Prime Minister Narendra Modi will be releasing the 18th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme, an unprecedented feature of the Modi government, on which it is ensuring direct income support to farmers across India.
What is the PM-Kisan Scheme?
Launched in February 2019, this financial plan under the PM-Kisan scheme will provide direct transfers to the bank account of small and marginal farmers and make their financial condition stronger. The farmers will get тВ╣6,000 every year, which will be divided into three equal instalments. This 18th instalment of тВ╣2,000 will benefit millions of farmers in this regard, helping them undertake agricultural activities.
Expected Impact of the 18th Instalment
More than 10 crore farmers across the country will be benefited by it, while Maharashtra is going to get major benefits, as the fund is going to be released on the eve of Rabi season and help farmers fulfill their input requirements of seeds, fertilizers, etc.
Address of Modi to Farmers:
The prime minister is likely to talk to farmers about his policies to develop the agriculture sector. Modi will talk about the measures taken to make farming modern and better, farmer welfare, and sustainable farming during his speech.
Agriculture Sector Further Developed
The PM-Kisan program finds itself in this larger effort made by the government to strengthen one of the major contributors to the Indian economy, which is the agricultural sector. During the occasion, Modi is likely to stress other efforts, such as crop insurance and irrigation help, to drive home the fact that the government is committed to the holistic development of agriculture.
Boosting Rural Economies
In addition to supporting farmers directly, the PM-Kisan scheme has had a positive ripple effect on rural economies. The funds injected into farming households have boosted consumption, increased investments in agricultural equipment, and improved livelihoods. This latest instalment is expected to further stimulate local markets, driving demand for agricultural products and services, thus contributing to the overall economic growth of rural areas in Maharashtra and across India.
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