PM Kisan 17th Installment Release Authorized: PM Modi's First Move After Re-election

Key Highlights

• PM Modi's first action post-re-election: authorized 17th PM Kisan installment.
• 9.3 crore farmers to benefit from Rs 20,000 crore distribution.
• PM emphasizes unwavering commitment to farmer welfare.
• Previous installments disbursed, e-KYC mandatory for farmers.
• Budget allocation increased for the Ministry of Agriculture in FY 2024-25.

Prime Minister Narendra Modi, shortly after being sworn in for his third consecutive term, has taken his first official action by authorizing the release of the 17th installment of the PM Kisan Nidhi scheme on June 10, 2024. This significant move is set to benefit a whopping 9.3 crore farmers across the nation, with an approximate disbursement of Rs 20,000 crores.

Commitment to Farmer Welfare

Expressing unwavering commitment to the welfare of farmers, Prime Minister Modi emphasized the government's dedication to the cause. "Ours is a Government fully committed to Kisan Kalyan. It is therefore fitting that the first file signed on taking charge is related to farmer welfare. We want to keep working even more for the farmers and the agriculture sector in the times to come," said PM Modi after authorizing the release.

Previous Installments and Farmer Requirements

The 16th installment, exceeding Rs 21,000 crores, was distributed to over 9 crore farmers in February 2024, following the 15th installment issued on November 15, 2023. To ensure receipt of PM-KISAN installments, farmers are required to complete their e-KYC. This process can be accomplished through OTP-based eKYC on the PM-KISAN Portal or by visiting the nearest Common Service Centre (CSC) for Biometric-based eKYC.

Budget Allocation and Future Projections

For the fiscal year 2024-25, the government has allocated a budget of Rs 1.27 lakh crore for the Ministry of Agriculture, a slight increase from the current fiscal year, as per the Interim Budget documents. The complete budget is anticipated to be announced in July 2024, further underlining the government's steadfast commitment to agricultural development and farmer welfare.

Also Read: Shivraj Singh Chouhan Assigned Agriculture & Rural Development Ministries

CMV360 Says

The authorization of the 17th installment of the PM Kisan Nidhi scheme marks a significant step towards supporting the livelihoods of millions of farmers across India. Prime Minister Modi's swift action underscores the government's unwavering dedication to farmer welfare. With increased budgetary allocations and ongoing initiatives, the future appears promising for the agricultural sector, reaffirming the government's commitment to fostering sustainable growth and prosperity for farmers nationwide.