New Delhi: Prime Minister Narendra Modi will release the 18th installment of the Pradhan Mantri Kisan Samman Nidhi (PM Kisan) on 5 October, according to Union Minister for Agriculture & Farmers’ Welfare and Rural Development, Shivraj Singh Chouhan. Union Minister Shivraj Singh Chouhan held a press conference in Bhopal on 4 October, 2024, to discuss the release of the 18th installment of Pradhan Mantri Kisan Samman Nidhi and other agricultural initiatives, a PIB press release stated.
Farmers across the country will receive the funds directly into their accounts. This installment marks a continuation of the government’s ongoing efforts to support farmers, according to Chouhan. He emphasized the government’s six-point strategy, which focuses on increasing production, reducing production costs, ensuring fair prices, providing compensation for natural disaster losses, promoting agricultural diversification and value addition, and encouraging natural farming.
Chouhan also highlighted recent cabinet decisions aimed at ensuring fair prices for farmers. These include increasing import duty on edible oils from 0% to 27.5%, setting a minimum support price for soybean procurement, and abolishing the minimum export duty on Basmati rice. Additionally, the export ban on non-Basmati rice has been lifted, and the export duty on onion has been reduced by 20%.
In a significant move to boost domestic edible oil production, the cabinet approved the National Edible Oil Mission. This mission, with an outlay of Rs 10,103 crore 38 lakh, will provide free breeder seeds, training, and 100% purchase guarantees to farmers. The mission aims to cultivate oilseeds in 10 lakh hectares annually, expanding to 70 lakh hectares over the next seven years.
Furthermore, the cabinet also approved the Pradhan Mantri Rashtriya Krishi Vikas Yojana and Krishi Unnat Yojana, a Rs 1 lakh crore initiative aimed at protecting farmers’ interests and ensuring food security. This scheme focuses on soil health management, rain-fed area development, agro-forestry, traditional agriculture promotion, crop residue management, agricultural mechanization, per-drop more crop, crop diversification, and supporting agricultural startups.