17100 Crores in Farmers Accounts. Modi magic works again as 8.5 crore farmers all over India got a financial support of a whopping 17100 Crores in Farmers Accounts. The direct fund transfer to the bank account is expected to give a boost to the economy and will also facilitate financial support to the deprived farmers. The project PM Kissan Nidhi was started in 2018 to support the farmers of the nation by offering an annual financial aid of 6000 rupees. This time in a single deposit, the project deposited 17100 Crores in Farmers Accounts.
The biggest advantage of the project is that there are no middle man or exploiters in the project and the government fund directly reaches the hands of farmers. The Union government sources stated that almost 9.9 crores farmers have benefited out of the programme. About 75,000 crore rupees has been directly transferred to the bank accounts already.
This time the 17100 crore rupees has been credited to 8.5 crore accounts by a single click. This resulted in 17100 Crores in Farmers Accounts all over India. This is truly considered by political analysts as an example that Modi magic works again. PM Narendra Modi said that he was happy to initiate this project as this does not involve mediators or middle man who normally exploits the poor farmers when they are offered a financial aid.
After announcing about the direct fund transfer initiative for farmers, PM Modi has also launched a project named Agricultural Infrastructure fund for promoting agriculture all over India. The project will work on a capital of around one lakh crore rupees.
The new project Agricultural Infrastructure fund will facilitate infrastructure development of agriculture including harvesting, cold storage facilities, harvest collection points, produce processing units, agricultural equipment etc. The newly proposed project will help farmers to get more value for their agricultural produce. Narendra Modi government has taken several steps to support the farmers in India during their first term as well. The initial step to support farmers started with the opening of zero-balance, Jan Dhan bank accounts. Earlier intervention by local politicians and other middlemen used to loot farmers and ear commission for various government aids. After Narendra Modi initiated the direct fund transfer of rupees 17100 Crores in Farmers Accounts through PM Kissan Nidhi project, even the opposition is forced to accept that the Modi Magic works again.