Modi to release PM Kisan 16th instalment on Feb 28

February 26, 2024: Prime Minister Narendra Modi will release the 16th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM Kisan) at a public event in Yavatmal, Maharashtra on February 28, 2024. The PM will release an amount of more than Rs 21,000 crore through direct benefits transfer to beneficiaries.

The Prime Minister will also disburse the second and third instalments of the Namo Shetkari Maha Sanman Nidhi, worth about Rs 3,800 crore and benefiting about 88 lakh beneficiary farmers across Maharashtra. The scheme provides an additional amount of Rs 6,000 per year to the beneficiaries of the Pradhan Mantri Kisan Samman Nidhi Yojana in Maharashtra.

With this release, an amount of more than Rs 3 lakh crore has been transferred to more than 11 crore farmers’ families under the PM Kisan, the PMO said in a statement on February 26.  Once Modi makes the transfer, eligible farmers who have completed their e-KYC will receive the Rs 2,000 instalment directly in their bank account when that happens.

Under the PM Kisan scheme, the government credits a total of Rs 6,000 subsidy in the bank accounts of eligible farmers in three equal instalments of Rs 2,000.  Since the start of this direct benefits transfer scheme in 2019, the government has so far released 16 instalments.

PM Kisan instalment release dates

Who can apply for PM Kisan 16th instalment?

The PM Kisan subsidy is transferred to the eligible beneficiaries through a direct benefit transfer mode after validation of the uploaded data. This includes:

1. Aadhaar authentication (PM Kisan e-KYC)
2. Validation of bank account and government employees’/pensioners data by the Public Finance Management System
3. Validation of accounts by the National Payment Corporation of India for Aadhaar-based payments, and
4. Validation of income tax payee status by the income tax department

Eligible farmers are enrolled and deceased/ineligible beneficiaries are being removed from the PM Kisan beneficiary list through verification and validation of the beneficiary’s data by states.

Sunita Mishra

An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.

In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
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