Release of 'Kisan Nidhi' fund is PM Modi's first decision in 3rd term

Nearly Rs 20,000 crore will benefit around 9.3 crore farmers.

By Newsmeter Network  Published on  11 Jun 2024 12:53 AM GMT
Release of Kisan Nidhi fund is PM Modis first decision in 3rd term

New Delhi: Taking charge as prime minister in his third term, Narendra Modi on Monday signed his first file authorising the release of 17th installment of the 'PM Kisan Nidhi' funds amounting to nearly Rs 20,000 crore, which will benefit around 9.3 crore farmers.

After signing on to the release of funds, Modi said, “Ours is a government fully committed to 'kisan kalyan' (farmers' welfare). It is, therefore, fitting that the first file signed on taking charge is related to it. We want to keep working even more for farmers and the agriculture sector in the times to come."

The decision signifies the government's commitment to farmers' welfare following the ruling National Democratic Alliance's poll win, albeit with some setback, especially in parts of rural India.

Modi was sworn in as prime minister on Sunday for a record-equalling third term, heading a 72-member Union Council of Ministers.

Construction of 3 Cr houses

The Union Cabinet in its first meeting under the chairmanship of Prime Minister Narendra Modi on Monday approved government assistance for the construction of three crore houses under the Pradhan Mantri Awas Yojana (PMAY).

This was the first meeting of the Union Cabinet of Modi 3.0 government held at the Prime Minister's 7, Lok Kalyan Marg residence. The meeting was attended by ministers of all allies of the NDA.

"It has been decided in the Cabinet meeting today to provide assistance to three crore additional rural and urban households for the construction of houses to meet the housing requirements arising out of the increase in the number of eligible families," officials said.

The government of India is implementing the PMAY since 2015-16 to provide assistance to eligible rural and urban households for the construction of houses with basic amenities.

Under PMAY, a total of 4.21 crore houses have been completed for the eligible poor families under the housing schemes in the last 10 years.

All the houses constructed under PMAY are provided basic amenities like household toilets, LPG connection, electricity connection and functional household tap connection through convergence with other schemes of the central and state governments.

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