In what could be a Diwali bonanza for millions of farmers, PM Modi will release Rs 16,000 crore under the 12th installment of the PM Kisan Samman Nidhi (PM-KISAN) scheme on Monday through direct benefit transfer, which is expected to benefit 10 crore farmers.
The installment amount will be released by PM Modi on Monday during the inauguration of the "PM Kisan Samman Sammelan 2022" at the Indian Agricultural Research Institute here.
IANS had reported on October 13 that the government could release the 12th installment amount within a week.
Prime Minister's Office (PMO)
PM Modi also tweeted about this on his Twitter handle late on Sunday evening.
Till now the government has disbursed 11 installments to farmers under the scheme.
Farmers however have often complained that the amount doesn't reach them due to several technical glitches related to the online transfer of installments.
To ensure that the amount reaches them, the farmers have to complete e-KYC formalities.
The installments are transferred to Aadhar linked bank accounts of farmers.
Meanwhile, during the event, the Prime Minister will launch 'Pradhan Mantri Bhartiya Jan Urvarak Pariyojana - One Nation One Fertilizer' scheme. Under the scheme, he will also launch Bharat Urea Bags, Bharat Urea Bags, which will help companies market fertilizers under the single brand name "Bharat". (KB/IANS)