☀️ Schemes
PM Modi releases ₹18,680 crore as 24th PM-KISAN instalment to 9.34 crore farmer families
In 60 seconds: Prime Minister Narendra Modi on Friday released the 24th instalment of PM-KISAN, sending over ₹18,680 crore through Direct Benefit Transfer to more than 9.34 crore farmer families. He released the money at Bhildi in Gujarat's Banaskantha district. In Gujarat, over 52.33 lakh farmer families received more than ₹1,051 crore. The first 23 instalments had already paid out over ₹4.47 lakh crore.
Why it matters
The money reaches farmers just before the rabi sowing season, when they need cash for seeds and fertiliser. Paying straight into bank accounts cuts out middlemen.
Explain it simply
Instead of handing a tea-leaf farmer cash through three agents, the owner sends it straight to her phone wallet. Nothing gets skimmed on the way.
The 3-minute read
What happened
At the same event, the PM opened the ₹328.77 crore Bharat Bovine Breeding and Research Centre and laid the foundation for two Banas Dairy compressed biogas plants at Tharad and Radhanpur.
Background
He also opened Banas Dairy's expanded potato processing plant and an automated storage system for UHT products. Gujarat held 34 district events and over 2,100 cluster-level events to watch the release.
How it works
Under PM-KISAN, the Centre pays eligible farmer families ₹6,000 a year in three instalments of ₹2,000, sent directly to Aadhaar-linked bank accounts.
What's next
The PM's Gujarat visit continues on 31 October with Rashtriya Ekta Diwas at Ekta Nagar, marking Sardar Vallabhbhai Patel's 151st birth anniversary.
What it means for you
If your family farms, check the 'Know Your Status' option on pmkisan.gov.in and make sure e-KYC and the bank account link are complete.
Key numbers
- ₹18,680 crore: Released in the 24th instalment
- 9.34 crore: Farmer families paid
- ₹4.47 lakh crore: Paid in the first 23 instalments
- ₹328.77 crore: Bharat Bovine Breeding and Research Centre
Both sides
- The government: Direct transfers put money in farmers' hands quickly and without leakage, right when the sowing season needs it.
- Farm experts: ₹6,000 a year helps, but landless tenants are left out and farm incomes also need better prices and irrigation.
Key terms explained
- Direct Benefit Transfer
- A system that sends government money straight into beneficiaries' bank accounts, cutting out middlemen.
- PM-KISAN
- Pradhan Mantri Kisan Samman Nidhi, which gives eligible farmer families ₹6,000 a year as income support.
The story so far
- Feb 2019: PM-KISAN is launched to give small farmer families direct income support. PM-KISAN was announced in the interim Budget of February 2019. It sends money straight into farmers' bank accounts in equal instalments through the year.
- 2019–2026: The first 23 instalments pay over ₹4.47 lakh crore to more than 11 crore farmer families. Before Friday, 23 instalments had sent more than ₹4.47 lakh crore to over 11 crore farmer families. Gujarat's 69.26 lakh beneficiaries received over ₹24,137 crore in this period.
- Today: PM releases 24th PM-KISAN instalment of ₹18,680 crore from Banaskantha
Exam notes (UPSC, SSC, Banking, PSC)
- PM-KISAN is a central sector scheme, fully funded by the Centre, run by the Ministry of Agriculture and Farmers Welfare.
- It pays ₹6,000 a year to eligible landholding farmer families in three equal instalments of ₹2,000.
- Direct Benefit Transfer (DBT) sends subsidies and benefits straight into beneficiaries' bank accounts.
- Rashtriya Ekta Diwas (National Unity Day) is marked on 31 October, Sardar Vallabhbhai Patel's birth anniversary.
Likely exam question: How has Direct Benefit Transfer changed welfare delivery in India? Assess PM-KISAN as an income support scheme for farmers.