Only Aadhaar-Linked Accounts To Get Funds Under PM Kisan Scheme Hereon
NEW DELHI : After releasing three instalments of the PM Kisan income support scheme to farmers without insisting on linkage of bank accounts with Aadhaar, the Narendra Modi-led government now seems to be particular that the fourth tranche be transferred to beneficiaries whose bank accounts are linked with Aadhaar.
This will be the first time that the government is insisting on mandatory condition of Aadhaar seeding, a report on the Economic Times said Monday.
Mint could not immediately verify this report. Officials in India’s rural development ministry did not confirm the report.
The release of funds is expected to inject ₹10,000 crore into the economy at a time when economic growth is depressed and the government is looking for ways to revive the sector especially the rural economy. This will be the largest disbursal of money under the scheme, the ET report said.
“From the fourth instalment onwards payment will be made only to farmers whose Aadhaar numbers have been authenticated with their bank accounts,” the report quoting an unidentified agriculture ministry official said. The department has so far authenticated more than 50 million bank accounts, the official said.
Under the Pradhan Mantri Kisan Samman Nidhi Yojana — launched last year — the government provides income support of ₹6,000 per year to all farmer families in the country in instalments paid four times a year. The instalment due between December 2019 and March 2020 is to be transferred to Aadhaar authenticated accounts.
“The date and venue have not been decided yet,” the official quoted by the report said. “But we are prepared to disburse over ₹10,000 crore to farmers in one day. This may boost the rural economy at a time when GDP growth has hit ten bottom,” the official added.
Using UPI app? What to do if lose your mobile phoneUsing UPI app? What to do if lose your mobile phone
Unified Payments Interface (UPI) allows users to transfer money any time, on a real-time basis,Read More
Income Tax calculation for AY 2020-21: CBDT’s PAN, Aadhaar rules for employees explainedIncome Tax calculation for AY 2020-21: CBDT’s PAN, Aadhaar rules for employees explained
PAN/Aadhaar rules for AY 2020: Employees may end up paying a lot in tax if theyRead More