Centre extends PM-Kisan scheme by five years; farmers to continue receiving Rs 6,000 annually

NEW DELHI: The Union Cabinet has extended the PM-Kisan Samman Nidhi scheme by another five years, providing relief to farmers across the country. The decision was taken at the Cabinet meeting held on Friday. The scheme has been extended till the 2030-31 financial year. Union Information and Broadcasting Minister Ashwini Vaishnaw announced the decision at a press conference.

The government has approved an allocation of Rs 3,15,614 crore for the scheme over the next five years. With the extension, eligible farmers will continue to receive Rs 6,000 every year. The amount will be transferred directly to beneficiaries' bank accounts through the Direct Benefit Transfer (DBT) system.

The PM-Kisan Samman Nidhi scheme was launched on February 24, 2019, to provide financial support to farmers across the country. Under the central government scheme, each eligible farmer family receives Rs 6,000 a year in three equal instalments. The money is credited directly to Aadhaar-linked bank accounts.