20th installment of Pradhan Mantri Kisan Samman Nidhi Yojana released

Why in news ?

• Prime Minister Narendra Modi released the 20th installment of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojana from Varanasi.
• In this installment, an amount of ₹20,500 crore was given to more than 9.7 crore farmers.

Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojana

• Pradhan Mantri Kisan Samman Nidhi Yojana is a central sector scheme launched by the Government of India.
• The scheme was announced in the interim budget on 1 February 2019.
• It was formally launched by Prime Minister Narendra Modi from Gorakhpur (Uttar Pradesh) on 24 February 2019.
• Main objectives
  • To provide financial assistance to all landholding farmers of the country.
  • To assist in agricultural costs and reduce dependence on loans.
  • To increase the income of farmers and strengthen the rural economy.
•  Every eligible farmer is given ₹6000 per year.
• This amount is given in three equal installments (₹2000 per installment) at an interval of four months.
• This assistance amount goes directly to the beneficiary's bank account through Direct Benefit Transfer (DBT).
• A total of ₹3.90 lakh crore has been distributed under the scheme so far.