Farmers to receive Rs 6000 per year under Pradhan Mantri Kisan Samman Nidhi: Piyush Goyal

New Delhi | Finance Minister Piyush Goyal today during the interim budget announced that farmers with less than 2 hectares landholding will receive 6000 rupees annually under the Pradhan Mantri Kisan Samman Nidhi.

Piyush Goyal announced that the money will be directly transferred in the bank accounts of the farmers in three installments. Goyal further announced that the estimated cost of the scheme is 75000 crores and the entire cost will be borne by the government. The initiative will benefit 12 crore small and marginal farmers claimed Goyal.

Informing the Lok Sabha on Famer issues, the Finance minister informed that for the welfare of farmers and for doubling their income, historic decision was taken to increase MSP by 1.5 times the production cost for all 22 crops. He further announced that to provide assured income support for small and marginal farmers, Pradhan Mantri Kisan Samman Nidhi scheme has been approved.

Goyal further announced that instead of rescheduling of crop loans, the farmers severely affected by natural calamities will get 2% interest subvention and additional 3% interest subvention upon timely repayment. Govt spent Rs 1.7 lakh crore to supply food grains at cheaper price to poor in 2018-19 as against Rs 92,000 crore cheaper price to poor in 2018-19 as against Rs 92,000 crore in 2013-14,” informed Goyal.



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