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PM Kisan 16th Installment Release Date 2024

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme provides financial assistance of Rs 6000 per year to small and marginal farmers across India. This amount is disbursed in three equal installments of Rs 2000 every four months. The government recently released the 15th installment under this scheme on November 15, 2023. The 16th installment is now due and is expected to be credited into the beneficiaries' bank accounts in March 2024.

PM Kisan 16th Installment Release Date 2024

Key Details

Scheme Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)
Beneficiaries Small and marginal farmers
Assistance Rs 6000 per year in 3 installments of Rs 2000 every 4 months
Last installment date November 15, 2023 (15th installment)
Next installment March 2024 (Expected) (16th installment)


About PM-KISAN Scheme

The PM-KISAN scheme was launched in February 2019 with the aim of providing financial support to small and marginal farmers in India. Under this scheme, the government provides income support of Rs 6000 every year to eligible farmer families across the country. The amount is transferred directly into the bank accounts of the beneficiaries in three equal installments of Rs 2000 every four months.

The scheme covers landholding farmer families who own cultivable land up to 2 hectares. The fund transfer is done electronically and the entire amount is directly transferred into the bank accounts of the beneficiaries. Over 11 crore farmers have benefitted under the scheme so far.


PM Kisan 16th Installment Date

The 15th installment under PM-KISAN was released on November 15, 2023 into the bank accounts of over 10 crore beneficiaries. As per the scheme guidelines, the next installment of Rs 2000 is due after a gap of 4 months from the date of last installment released.

Therefore, the 16th installment under the scheme is expected to be released sometime during the second or third week of March 2024. The government is yet to officially announce the exact date for the disbursal of 16th installment funds. But going by the set frequency, farmers can expect to receive it in their bank accounts in March 2024.


PM Kisan Installment Benefits

The PM-KISAN scheme has benefited millions of small and marginal farmers across India. Some key benefits include:

  • Additional source of income to meet farming requirements
  • Timely availability of funds as amount is directly transferred into bank accounts
  • Reduced burden of interest on loans taken for agricultural purposes
  • Financial aid to buy seeds, fertilizers, equipment etc. to improve productivity
  • Empowerment of farmers through direct benefit transfer

The PM-KISAN installments have helped farmers to sustain their livelihoods and enhance production through timely availability of financial resources.


Eligibility Criteria

To be eligible for receiving funds under PM-KISAN, the farmer family should meet the following criteria:

  • Should own cultivable land up to 2 hectares
  • Land should be in the name of the farmer
  • Farmer's family should not hold any constitutional posts
  • Should not be serving or retired government employees
  • Income should be below income tax liability limit

Farmers have to get their details verified on the PM-KISAN portal for smooth processing of installments. eKYC is mandatory to continue getting benefits.


Registration Process

Farmers have to register themselves on the official PM-KISAN portal to start receiving funds under the scheme. The key steps are:

  • Visit pmkisan.gov.in website
  • Click on 'Farmer's Corner' and select 'New Farmer Registration'
  • Enter personal details, bank account details, landholding details etc.
  • Upload scanned documents as per guidelines
  • Submit form and generate registration slip
  • Track application status and verification on the portal

On successful verification, beneficiaries will start receiving PM-KISAN installments in their bank account as per schedule.

Click Here: pmkisan.gov.in/

Conclusion

The Pradhan Mantri Kisan Samman Nidhi scheme has provided much needed financial support to crores of farmers across India. The direct benefit transfer of Rs 6000 per year in three installments has helped farmers to sustain their livelihoods and improve agricultural productivity. With the 16th installment expected in March 2024, farmers look forward to timely receipt of PM-KISAN funds.


FAQ


Q1: When will the 16th installment under PM-KISAN be released?


A1: The 16th installment under PM-KISAN is expected to be released in March 2024 as per the schedule of disbursal every 4 months from the date of previous installment.


Q2: How much amount will be transferred in the 16th installment?


A2: The amount to be transferred in the 16th installment will be Rs 2000 as per the standard installment amount set under the PM-KISAN scheme.


Q3: How many installments are pending for the year 2023-24?


A3: Two installments are pending for the year 2023-24 - the 16th installment due in March 2024 and the 17th installment due in July 2024.


Q4: What is the total annual assistance provided under PM-KISAN?


A4: Under PM-KISAN, an annual financial assistance of Rs 6000 is provided to eligible farmers through transfer of 3 equal installments of Rs 2000 every 4 months.


Q5: Who are eligible beneficiaries under the scheme?


A5: Landholding farmer families owning cultivable land up to 2 hectares are eligible for PM-KISAN benefits.


Q6: How can farmers register themselves for the scheme?


A6: Farmers can visit the official website pmkisan.gov.in and register by submitting the required details under the New Farmer Registration section.


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